AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1637%/8h= +179.2% APRnext payment +$2.05 per $10,000 · paid last 24h +0.237%

Price spread now: Kraken Futures against Injective−0.033%63s7-day average +0.295% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as 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−$1231.227% of the position

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.343%+$34 on $10k

Price spread, last 4 days (all we have)−0.902%−$90 · spread now −0.033%, 7d avg +0.295%

Together, before fees−0.559%−$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.328% cheaper against Injective than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.295%). If the spread goes back, that is −$33 on $10k: about 16 hours of funding at the current rate (+$49 a day). At the pace of the last 7 days (+0.343% in total) that is about 6.7 days. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.343% in total (about 17.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.05 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	Injective AVAX/USDC PERP	10.990	−0.1423	get 0.0178% / 1h	13m 53s	$17K	$151K	12x
Short	Kraken Futures PF_AVAXUSD	10.986	0.0214	get 0.0027% / 1h	13m 53s	$4.2M	$11.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Injective. 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 InjectivebpFee Kraken FuturesbpOrdersPrice spread, now −0.033%Rate

Funding earned: $343.74
Price spread: −0.033% → +0.295%: −$32.79
Slippage, 4 orders: −$112.71
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $188.21
Costs to cover: 1.227%
Break-even: 3.2 days

Slippage from Injective: live order book, 45 min ago; Kraken Futures: 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 Injective live order book, 45 min ago	44.92 bp	53.9 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	1.36 bp	12.7 bp −$13	21.2 bp −$212	58.6 bp −$5,856	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 PERPlong	−0.1423%	1h	10.990	long leg	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0023%	1h	10.984	−0.055%	$5.1M	$7.9M	25x	as long as short
Nado AVAX-PERP	−0.0013%	1h	10.978	−0.105%	$286K	$371K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.982	−0.075%	$96K	$97K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.981	−0.081%	$12K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.011	+0.188%	$1.2M	$2.9M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.980	−0.091%	$15K	$550K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	10.979	−0.096%	$12K	$434	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.992	+0.016%	$2.2M	$1.1M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.985	−0.049%	$286K	$114K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AVAXUSDT	+0.0100%	8h	11.012	+0.204%	$116.0M	$430.6M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.012	+0.200%	$85.3M	$139.7M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.019	+0.264%	$20.2M	$115.1M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	10.998	+0.073%	$12.1M	$34.5M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.007	+0.155%	$46.3M	$78.6M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.009	+0.173%	$15.5M	$21.7M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.015	+0.227%	$33.0M	$48.0M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	11.010	+0.182%	—	$78.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.988	−0.018%	$330K	$525K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	10.963	−0.249%	$2.9M	$2.2M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.041	+0.462%	$352K	$874K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.040	+0.455%	$178K	$671K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.980	−0.091%	$129K	$345K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.990	0.000%	$193K	$310K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.010	+0.182%	$12K	$715K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	10.986	−0.036%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.986	−0.041%	$366K	$812K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.987	−0.027%	$29.3M	$5.8M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.004	+0.132%	$678K	$1.4M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.979	−0.100%	$252K	—	3x	as long as short
Kraken Futures PF_AVAXUSDshort	+0.0214%	1h	10.986	−0.033%	$4.2M	$11.3M	50x
BloFin AVAX-USDT	+0.0220%	8h	10.991	+0.009%	$5.0M	$5.4M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.994	+0.036%	$890K	$5.2M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.975	−0.139%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0295%	1h	10.981	−0.084%	$233K	—	120x	as long as short
Hyperliquid AVAX	+0.0512%	1h	11.030	+0.364%	$42.8M	$42.1M	10x	as long as short