Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0500%/8h= +54.8% APRpaid last 24h +0.079%

Price spread now: Hyperliquid against Binance+0.053%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 7 days−0.053%−$5 · spread now +0.053%, 7d avg +0.025%

Together, before fees−0.017%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.028% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.025%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.036% in total (about 1.9% a year). A funding rate is set anew for every payment. 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	Binance AVAXUSDT	11.281	0.0100	pay 0.0100% / 8h	1h 33m	$120.6M	$526.7M	75x
Short	Hyperliquid AVAX	11.287	0.0600	get 0.0075% / 1h	33m 58s	$43.7M	$57.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.053%Rate

Funding earned: $105.06
Price spread: +0.053% → +0.025%: $2.77
Slippage, 4 orders: −$5.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $82.96
Costs to cover: 0.249%
Break-even: 1.5 days

Slippage from Binance: live order book, 10 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 Binance live order book, 10 min ago	0.44 bp	6.8 bp −$7	11.7 bp −$117	39.1 bp −$3,906	123.8 bp −$61.9K
Sell Hyperliquid live order book, 10 min ago	0.89 bp	6.7 bp −$7	9.9 bp −$99	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	−0.0570%	1h	11.220	−0.541%	$17K	$151K	12x	as long as short
Variational Omni AVAX	−0.0025%	8h	11.253	−0.246%	$3.0M	$2.4M	—	as long as short
Nado AVAX-PERP	−0.0001%	1h	11.265	−0.142%	$297K	$896K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.268	−0.113%	$99K	$107K	10x	as long as short
Deribit AVAX_USDC-PERPETUAL	0.0000%	1h	11.281	0.000%	$5.4M	$9.2M	25x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0004%	1h	11.276	−0.041%	$16K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.272	−0.081%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.264	−0.151%	$16K	$694K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0099%	8h	11.276	−0.042%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.276	−0.044%	$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	11.271	−0.092%	$299K	$120K	10x	as long as short
Binance AVAXUSDTlong	+0.0100%	8h	11.281	long leg	$120.6M	$526.7M	75x
Bybit AVAXUSDT	+0.0100%	8h	11.278	−0.027%	$88.4M	$157.2M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.281	0.000%	$20.3M	$146.9M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.275	−0.053%	$12.6M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.280	−0.009%	$52.2M	$100.0M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.282	+0.009%	$16.7M	$24.5M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.281	0.000%	$34.3M	$60.4M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.282	+0.009%	—	$6.6M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.271	−0.089%	$360K	$571K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.255	−0.233%	$360K	$898K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.258	−0.204%	$181K	$686K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.268	−0.115%	$134K	$459K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.285	+0.035%	$203K	$301K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.293	+0.111%	$12K	$729K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.279	−0.018%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.278	−0.022%	$363K	$1.1M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.267	−0.124%	$30.3M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.280	−0.009%	$673K	$2.2M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.282	+0.011%	$259K	—	3x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0192%	1h	11.283	+0.018%	$910K	$8.3M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.268	−0.115%	$5.0M	$8.0M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.262	−0.166%	$1K	—	20x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0402% / S −0.0245%	1h	11.274	−0.059%	$237K	—	120x	as long as short
Hyperliquid AVAXshort	+0.0600%	1h	11.287	+0.053%	$43.7M	$57.1M	10x
Kraken Futures PF_AVAXUSD	+0.0627%	1h	11.286	+0.047%	$4.6M	$13.5M	50x	as long as short