AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0421%/8h= −46.0% APRnext payment −$0.53 per $10,000 · paid last 24h −0.104%

Price spread now: dYdX against Hyperliquid−0.123%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$305as in the Funding arb table

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2852.850% of the position

Long on Hyperliquid Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.123%, 7d avg −0.064%

Together, before fees−0.100%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and dYdX is 0.059% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.064%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.201% in total (about -10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.53 per $10,000. 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	Hyperliquid AVAX	11.114	0.0421	pay 0.0053% / 1h	46m 46s	$43.3M	$48.0M	10x
Short	dYdX AVAX-USD	11.100	0	get 0.0000% / 1h	46m 46s	$102K	$105K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$88.31
Price spread: −0.123% → −0.064%: −$5.9
Slippage, 4 orders: −$266.01
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$379.22
Costs to cover: 2.850%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; dYdX: live order book, 22 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, 7 min ago	0.45 bp	7.4 bp −$7	16.0 bp −$160	doesn't fit	doesn't fit
Sell dYdX live order book, 22 min ago	130.74 bp	135.7 bp −$136	136.5 bp −$1,365	140.4 bp −$14.0K	162.5 bp −$81.2K

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	−0.1423%	1h	11.050	−0.576%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0110%	1h	11.095	−0.171%	$5.2M	$8.3M	25x	as long as short
Nado AVAX-PERP	−0.0018%	1h	11.105	−0.076%	$288K	$525K	10x	as long as short
dYdX AVAX-USDshort	0.0000%	1h	11.100	−0.123%	$102K	$105K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.106	−0.070%	$13K	—	150x	as long as short
Gate AVAX_USDT	+0.0078%	8h	11.098	−0.144%	$12.1M	$36.4M	75x	as long as short
Lighter AVAX	+0.0096%	1h	11.096	−0.163%	$1.2M	$3.0M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.109	−0.045%	$18K	$601K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.095	−0.169%	$13K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.100	−0.125%	$2.3M	$1.4M	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	11.099	−0.133%	$295K	$107K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.095	−0.166%	$118.1M	$471.3M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.092	−0.198%	$88.3M	$146.1M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.095	−0.171%	$19.8M	$127.1M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.095	−0.171%	$48.5M	$82.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.096	−0.162%	$15.4M	$22.9M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.092	−0.198%	$33.4M	$52.5M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.095	−0.171%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.105	−0.081%	$355K	$548K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.107	−0.065%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.127	+0.117%	$353K	$807K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.129	+0.135%	$179K	$682K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.110	−0.036%	$130K	$369K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.111	−0.027%	$195K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.139	+0.224%	$12K	$721K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.102	−0.108%	$18K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.096	−0.161%	$361K	$939K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.105	−0.081%	$29.7M	$5.4M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.091	−0.210%	$668K	$2.0M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.093	−0.192%	$255K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.117	+0.027%	$5.0M	$6.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.105	−0.083%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0255%	1h	11.105	−0.083%	$4.3M	$12.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0288%	1h	11.108	−0.054%	$910K	$6.1M	50x	as long as short
Hyperliquid AVAXlong	+0.0421%	1h	11.114	long leg	$43.3M	$48.0M	10x
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	11.106	−0.072%	$236K	—	120x	as long as short