AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0414%/8h= −45.3% APRnext payment −$0.52 per $10,000 · paid last 24h −0.219%

Price spread now: Deribit against Hyperliquid−0.191%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.669%−$67 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.191%, 7d avg −0.090%

Together, before fees−0.675%+ Points / potential airdropHyperliquid: Season 2 · farm board−$68 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.101% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.090%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AVAX	11.015	0.0391	pay 0.0049% / 1h	49m 33s	$42.7M	$41.6M	10x
Short	Deribit AVAX_USDC-PERPETUAL	10.994	−0.0023	pay 0.0003% / 1h	49m 33s	$5.1M	$7.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.191%Rate

Funding earned: −$86.96
Price spread: −0.191% → −0.090%: −$10.09
Slippage, 4 orders: −$14.93
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$127.99
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Deribit: live order book, 5 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, 4 min ago	1.81 bp	7.9 bp −$8	12.9 bp −$129	doesn't fit	doesn't fit
Sell Deribit live order book, 5 min ago	3.18 bp	6.7 bp −$7	217.7 bp −$2,177	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	−0.1421%	1h	10.960	−0.499%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUALshort	−0.0023%	1h	10.994	−0.191%	$5.1M	$7.9M	25x
Nado AVAX-PERP	−0.0018%	1h	10.996	−0.172%	$285K	$319K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.005	−0.095%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.995	−0.182%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.997	−0.159%	$4.3M	$11.3M	50x	as long as short
ApeX Omni AVAXUSDT	+0.0084%	1h	11.008	−0.064%	$177K	$671K	50x	as long as short
Lighter AVAX	+0.0096%	1h	11.006	−0.082%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.000	−0.136%	$15K	$458K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.003	−0.113%	$12K	$212	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AVAXUSDT	+0.0100%	8h	11.002	−0.121%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.007	−0.073%	$277K	$131K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.000	−0.134%	$116.1M	$428.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.997	−0.163%	$84.1M	$140.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.002	−0.118%	$20.2M	$114.0M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.002	−0.118%	$12.1M	$32.2M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.005	−0.091%	$45.9M	$78.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.004	−0.100%	$15.5M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.999	−0.145%	$33.1M	$47.7M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.001	−0.127%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.000	−0.136%	$370K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.001	−0.131%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.010	−0.047%	$345K	$891K	10x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.993	−0.200%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.002	−0.118%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.024	+0.081%	$12K	$720K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.995	−0.182%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.993	−0.195%	$366K	$791K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.001	−0.127%	$29.4M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.996	−0.168%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.993	−0.195%	$253K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.000	−0.136%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	11.005	−0.091%	$896K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.984	−0.279%	$1K	—	20x	as long as short
Hyperliquid AVAXlong	+0.0391%	1h	11.015	long leg	$42.7M	$41.6M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.997	−0.164%	$233K	—	120x	as long as short