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 +0.083%

Price spread now: Hyperliquid against SunX−0.752%7-day average −0.205% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$1711.712% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.678%+$68 · spread now −0.752%, 7d avg −0.205%

Together, before fees+0.686%+ Points / potential airdropHyperliquid: Season 2 · farm board+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.547% cheaper against SunX than usual: you would sell low and buy high (spread −0.752% now, against its 7-day average of −0.205%). If the spread goes back, that is −$55 on $10k: about 22 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.009% in total) that is about 15 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AVAX-USDT	10.860	0.0100	pay 0.0100% / 8h	3h 02m	$12K	$720K	20x
Short	Hyperliquid AVAX	10.778	0.0184	get 0.0023% / 1h	2m 49s	$40.5M	$40.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now −0.752%Rate

Funding earned: $17.66
Price spread: −0.752% → −0.205%: −$54.71
Slippage, 4 orders: −$154.21
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$208.27
Costs to cover: 1.712%
Break-even: 89.6 days

Slippage from SunX: live order book, 9 min ago; Hyperliquid: live order book, 10 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 SunX live order book, 9 min ago	41.87 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.92 bp	6.9 bp −$7	11.6 bp −$116	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	10.800	−0.550%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0027%	1h	10.831	−0.264%	$4.9M	$7.4M	25x	as long as short
dYdX AVAX-USD	0.0000%	1h	10.838	−0.203%	$95K	$96K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	10.835	−0.232%	$12K	—	150x	as long as short
Kraken Futures PF_AVAXUSD	+0.0020%	1h	10.832	−0.253%	$4.2M	$10.9M	50x	as long as short
Nado AVAX-PERP	+0.0038%	1h	10.833	−0.244%	$281K	$308K	10x	as long as short
Gate AVAX_USDT	+0.0039%	8h	10.767	−0.854%	$12.2M	$32.7M	75x	as long as short
Variational Omni AVAX	+0.0081%	8h	10.844	−0.148%	$2.8M	$2.2M	—	as long as short
Lighter AVAX	+0.0096%	1h	10.773	−0.798%	$1.2M	$2.7M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	10.832	−0.255%	$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	−0.248%	$12K	$212	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	10.802	−0.535%	$2.2M	$1.0M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	10.839	−0.189%	$273K	$130K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	10.770	−0.824%	$113.0M	$415.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	10.761	−0.909%	$81.3M	$140.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	10.764	−0.881%	$19.5M	$108.9M	50x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	10.825	−0.320%	$44.4M	$79.3M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	10.817	−0.393%	$14.8M	$21.8M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	10.769	−0.835%	$32.1M	$47.8M	75x	as long as short
BingX AVAX-USDT	+0.0100%	8h	10.765	−0.872%	—	$54.7M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	10.828	−0.292%	$369K	$525K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	10.847	−0.119%	$341K	$942K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	10.856	−0.034%	$174K	$663K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	10.831	−0.264%	$127K	$343K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	10.838	−0.200%	$190K	$310K	20x	as long as short
SunX AVAX-USDTlong	+0.0100%	8h	10.860	long leg	$12K	$720K	20x
SoDEX AVAX-USD	+0.0100%	1h	10.831	−0.264%	$18K	$71K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	10.832	−0.250%	$356K	$766K	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	10.833	−0.246%	$28.9M	$5.7M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	10.821	−0.359%	$667K	$1.3M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	10.828	−0.295%	$249K	—	3x	as long as short
Hyperliquid AVAXshort	+0.0184%	1h	10.778	−0.752%	$40.5M	$40.1M	10x
BloFin AVAX-USDT	+0.0220%	8h	10.831	−0.264%	$4.8M	$5.3M	100x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0232%	1h	10.842	−0.163%	$883K	$4.7M	50x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	10.828	−0.289%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0445% / S −0.0276%	1h	10.833	−0.244%	$236K	—	120x	as long as short