Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.093%

Price spread now: BingX against Hyperliquid−0.121%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 7 days+0.121%+$12 · spread now −0.121%, 7d avg −0.051%

Together, before fees+0.068%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BingX is 0.070% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AVAX	10.778	0.0184	pay 0.0023% / 1h	2m 47s	$40.5M	$40.1M	10x
Short	BingX AVAX-USDT	10.765	0.0100	get 0.0100% / 8h	3h 02m	—	$54.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$17.66
Price spread: −0.121% → −0.051%: −$7
Slippage, 4 orders: −$4.96
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$48.62
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; BingX: live order book, 6 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 Hyperliquid live order book, 11 min ago	0.92 bp	6.1 bp −$6	12.4 bp −$124	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	0.46 bp	5.5 bp −$5	6.5 bp −$65	12.8 bp −$1,275	31.1 bp −$15.5K

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	−0.1421%	1h	10.800	+0.204%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0027%	1h	10.831	+0.492%	$4.9M	$7.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.838	+0.554%	$95K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.835	+0.524%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.832	+0.503%	$4.2M	$10.9M	50x	as long as short
Nado AVAX-PERP	+0.0038%	1h	10.833	+0.513%	$281K	$308K	10x	as long as short
Gate AVAX_USDT	+0.0039%	8h	10.767	−0.102%	$12.2M	$32.7M	75x	as long as short
Variational Omni AVAX	+0.0081%	8h	10.844	+0.609%	$2.8M	$2.2M	—	as long as short
Lighter AVAX	+0.0096%	1h	10.773	−0.046%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.832	+0.501%	$7K	$436K	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex AVAX-USD-PERP	+0.0097%	8h	10.833	+0.508%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.802	+0.219%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.839	+0.568%	$273K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.770	−0.072%	$113.0M	$415.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.761	−0.158%	$81.3M	$140.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.764	−0.130%	$19.5M	$108.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.825	+0.436%	$44.4M	$79.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.817	+0.362%	$14.8M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.769	−0.084%	$32.1M	$47.8M	75x	as long as short
BingX AVAX-USDTshort	+0.0100%	8h	10.765	−0.121%	—	$54.7M	—
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.828	+0.464%	$369K	$525K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.847	+0.639%	$341K	$942K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.856	+0.724%	$174K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.831	+0.492%	$127K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.838	+0.557%	$190K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	10.860	+0.758%	$12K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.831	+0.492%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.832	+0.506%	$356K	$766K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.833	+0.510%	$28.9M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.821	+0.396%	$667K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.828	+0.461%	$249K	—	3x	as long as short
Hyperliquid AVAXlong	+0.0184%	1h	10.778	long leg	$40.5M	$40.1M	10x
BloFin AVAX-USDT	+0.0220%	8h	10.831	+0.492%	$4.8M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.842	+0.594%	$883K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.828	+0.466%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0445% / S −0.0276%	1h	10.833	+0.512%	$236K	—	120x	as long as short