Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.266%

Price spread now: Injective against HTX−1.162%65s7-day average −0.210% · you buy dearer than you sell

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1621.619% of the position

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.512%−$51 on $10k

Price spread, last 4 days (all we have)+2.105%+$211 · spread now −1.162%, 7d avg −0.210%

Together, before fees+1.593%+$159 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.952% cheaper against HTX than usual: you would sell low and buy high (−$95 if the spread goes back to its 7-day average of −0.210%). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX AVAX-USDT	10.886	0.0100	pay 0.0100% / 8h	5h 54m	$326K	$948K	75x
Short	Injective AVAX/USDC PERP	10.760	0.0033	get 0.0004% / 1h	54m 04s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.162%Rate

Funding earned: −$14
Price spread: −1.162% → −0.210%: −$95.18
Slippage, 4 orders: −$149.92
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$271.12
Costs to cover: 1.619%
Break-even: never at this rate

Slippage from HTX: live order book, 57 min ago; Injective: live order book, 57 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, 57 min ago	20.53 bp	42.8 bp −$43	92.9 bp −$929	doesn't fit	doesn't fit
Sell Injective live order book, 57 min ago	32.42 bp	32.4 bp −$32	doesn't fit	doesn't fit	doesn't fit

AVAX on 36 exchanges

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
Variational Omni AVAX	−0.0140%	8h	10.876	−0.099%	$3.1M	$2.1M	—	as long as short
Gate AVAX_USDT	−0.0102%	8h	10.886	−0.005%	$14.5M	$26.6M	75x	as long as short
SoDEX AVAX-USD	−0.0086%	1h	10.885	−0.014%	$19K	$68K	10x	as long as short
Kraken Futures PF_AVAXUSD	−0.0056%	1h	10.891	+0.040%	$3.8M	$10.9M	50x	as long as short
Phemex AVAXUSDT	−0.0044%	8h	10.883	−0.032%	$29.0M	$5.6M	50x	as long as short
Bybit AVAXUSDT	−0.0044%	8h	10.882	−0.041%	$84.9M	$132.1M	75x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0025%	1h	10.889	+0.023%	$5.0M	$6.6M	25x	as long as short
Nado AVAX-PERP	−0.0018%	1h	10.886	−0.005%	$277K	$300K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.893	+0.062%	$93K	$100K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0002%	1h	10.890	+0.032%	$23K	—	150x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AVAX/USDC PERPshort	+0.0033%	1h	10.760	−1.162%	$17K	$151K	12x
OKX AVAX-USDT-SWAP	+0.0095%	8h	10.882	−0.041%	$19.4M	$102.7M	50x	as long as short
Lighter AVAX	+0.0096%	1h	10.887	+0.009%	$1.2M	$1.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.889	+0.023%	$23K	$438K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	10.888	+0.010%	$12K	$62	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.888	+0.014%	$2.2M	$1.3M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.891	+0.041%	$274K	$122K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.886	−0.005%	$114.9M	$373.3M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.884	−0.023%	$52.9M	$69.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.889	+0.023%	$14.3M	$18.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.886	−0.005%	$33.1M	$43.3M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.885	−0.014%	—	$52.4M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.890	+0.032%	$440K	$522K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.890	+0.032%	$342K	$1.5M	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.913	+0.243%	$175K	$660K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.890	+0.032%	$137K	$247K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.893	+0.060%	$236K	$217K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.921	+0.314%	$12K	$772K	20x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	10.886	long leg	$326K	$948K	75x
Extended AVAX-USD	+0.0104%	1h	10.879	−0.065%	$618K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.880	−0.060%	$250K	—	3x	as long as short
Hyperliquid AVAX	+0.0116%	1h	10.901	+0.133%	$36.2M	$37.4M	10x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0208%	1h	10.924	+0.344%	$863K	$5.1M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	10.892	+0.051%	$4.8M	$5.2M	100x	as long as short
Reya AVAXRUSDPERP	+0.0245%	1h	10.885	−0.015%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0444% / S −0.0294%	1h	10.888	+0.018%	$230K	—	120x	as long as short