Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0363%/8h= +39.8% APRpaid last 24h +0.076%

Price spread now: Hyperliquid against HTX+0.076%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.373%+$37 · spread now +0.076%, 7d avg +0.081%

Together, before fees+0.368%+ Points / potential airdropHyperliquid: Season 2 · farm board+$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.081%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AVAX-USDT	11.143	0.0100	pay 0.0100% / 8h	5h 35m	$365K	$871K	75x
Short	Hyperliquid AVAX	11.151	0.0463	get 0.0058% / 1h	35m 57s	$43.4M	$43.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HTXbpFee HyperliquidbpOrdersPrice spread, now +0.076%Rate

Funding earned: $76.25
Price spread: +0.076% → +0.081%: −$0.47
Slippage, 4 orders: −$73.87
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$19.09
Costs to cover: 0.949%
Break-even: 8.8 days

Slippage from HTX: live order book, 33 min ago; Hyperliquid: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy HTX live order book, 33 min ago	34.99 bp	41.1 bp −$41	110.2 bp −$1,102	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.90 bp	7.2 bp −$7	11.3 bp −$113	doesn't fit	doesn't fit

AVAX on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERP	−0.1374%	1h	11.100	−0.381%	$17K	$151K	12x	as long as short
Nado AVAX-PERP	−0.0068%	1h	11.135	−0.067%	$286K	$448K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.136	−0.055%	$102K	$87K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.142	−0.004%	$5.2M	$7.9M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.141	−0.014%	$13K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0045%	1h	11.146	+0.034%	$4.3M	$11.5M	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.146	+0.030%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.134	−0.076%	$16K	$564K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.134	−0.080%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.134	−0.075%	$2.3M	$1.2M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica AVAX	+0.0100%	1h	11.138	−0.043%	$290K	$112K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.136	−0.061%	$118.9M	$434.1M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.132	−0.094%	$88.4M	$138.0M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.130	−0.112%	$20.1M	$117.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.136	−0.058%	$12.1M	$34.9M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.136	−0.058%	$47.9M	$79.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.139	−0.031%	$15.6M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.134	−0.076%	$33.4M	$48.6M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.134	−0.076%	—	$81.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.139	−0.031%	$356K	$498K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.138	−0.037%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.112	−0.274%	$356K	$801K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.119	−0.211%	$179K	$677K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.139	−0.031%	$130K	$349K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.148	+0.049%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.164	+0.197%	$12K	$700K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.144	+0.013%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.143	long leg	$365K	$871K	75x
Phemex AVAXUSDT	+0.0100%	8h	11.145	+0.022%	$29.8M	$5.6M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.131	−0.099%	$671K	$1.5M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.136	−0.057%	$256K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.120	−0.202%	$5.1M	$5.5M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.135	−0.067%	$899K	$5.5M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.129	−0.120%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.138	−0.041%	$236K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0463%	1h	11.151	+0.076%	$43.4M	$43.0M	10x