AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0530%/8h= −58.1% APRnext payment −$0.66 per $10,000 · paid last 24h −0.073%

Price spread now: Lighter against Hyperliquid−0.168%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.168%, 7d avg −0.082%

Together, before fees−0.034%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Lighter is 0.086% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.082%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.161% in total (about -8.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.66 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	11.296	0.0626	pay 0.0078% / 1h	19m 27s	$43.7M	$56.8M	10x
Short	Lighter AVAX	11.277	0.0096	get 0.0012% / 1h	19m 27s	$1.3M	$3.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$111.39
Price spread: −0.168% → −0.082%: −$8.64
Slippage, 4 orders: −$9.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$138.2
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Lighter: live order book, 3 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	0.88 bp	5.6 bp −$6	13.5 bp −$135	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.39 bp	3.4 bp −$3	13.0 bp −$130	90.7 bp −$9,069	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	−0.0570%	1h	11.250	−0.407%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0105%	1h	11.270	−0.230%	$5.4M	$9.2M	25x	as long as short
Nado AVAX-PERP	−0.0038%	1h	11.277	−0.164%	$297K	$895K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.279	−0.148%	$104K	$112K	10x	as long as short
Variational Omni AVAX	+0.0001%	8h	11.275	−0.185%	$3.0M	$2.4M	—	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.279	−0.152%	$16K	—	150x	as long as short
Lighter AVAXshort	+0.0096%	1h	11.277	−0.168%	$1.3M	$3.3M	10x
Popdex AVAXUSDT	+0.0096%	1h	11.277	−0.168%	$17K	$688K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.272	−0.212%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.280	−0.146%	$2.3M	$1.8M	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	11.278	−0.157%	$300K	$120K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.278	−0.157%	$120.6M	$525.5M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.275	−0.186%	$89.3M	$157.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.273	−0.204%	$20.3M	$146.6M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.278	−0.159%	$12.4M	$40.5M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.278	−0.159%	$52.2M	$100.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.279	−0.150%	$16.1M	$24.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.274	−0.195%	$34.2M	$60.1M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.280	−0.142%	—	$89.2M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.280	−0.142%	$361K	$570K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.279	−0.151%	$360K	$877K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.290	−0.053%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.282	−0.124%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.281	−0.133%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.308	+0.104%	$12K	$732K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.277	−0.168%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.281	−0.128%	$365K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.277	−0.168%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.269	−0.241%	$672K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.273	−0.203%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.295	−0.009%	$912K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.288	−0.071%	$5.1M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.278	−0.163%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0407% / S −0.0253%	1h	11.278	−0.156%	$238K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0626%	1h	11.296	long leg	$43.7M	$56.8M	10x
Kraken Futures PF_AVAXUSD	+0.0627%	1h	11.284	−0.108%	$4.6M	$13.5M	50x	as long as short