Funding arb · Price arb /

AVAX

all AVAX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1463%/8h= −160.2% APRpaid last 24h −0.170%

Price spread now: Injective against HTX−0.319%65s7-day average −0.223% · you buy dearer than you sell

Net, funding: paid 7d − costs−$207as 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−$1671.675% of the position

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.398%−$40 on $10k

Price spread, last 3 days (all we have)+1.406%+$141 · spread now −0.319%, 7d avg −0.223%

Together, before fees+1.008%+$101 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Injective is 0.096% cheaper against HTX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.223%). Swap the legs. The two prices were read 65 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 -0.398% in total (about -20.8% 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	HTX AVAX-USDT	11.136	0.0100	pay 0.0100% / 8h	7h 35m	$361K	$955K	75x
Short	Injective AVAX/USDC PERP	11.100	−0.1363	pay 0.0170% / 1h	35m 37s	$17K	$151K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against HTX. 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 HTXbpFee InjectivebpOrdersPrice spread, now −0.319%Rate

Funding earned: −$307.2
Price spread: −0.319% → −0.223%: −$9.6
Slippage, 4 orders: −$155.43
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$484.25
Costs to cover: 1.675%
Break-even: never at this rate

Slippage from HTX: live order book, 23 min ago; Injective: live order book, 38 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 HTX live order book, 23 min ago	27.31 bp	44.9 bp −$45	119.1 bp −$1,191	doesn't fit	doesn't fit
Sell Injective live order book, 38 min ago	35.68 bp	35.7 bp −$36	doesn't fit	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 PERPshort	−0.1363%	1h	11.100	−0.319%	$17K	$151K	12x
Deribit AVAX_USDC-PERPETUAL	−0.0199%	1h	11.132	−0.031%	$5.3M	$8.6M	25x	as long as short
Nado AVAX-PERP	−0.0052%	1h	11.120	−0.139%	$292K	$831K	10x	as long as short
dYdX AVAX-USD	0.0000%	1h	11.128	−0.064%	$102K	$105K	10x	as long as short
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.137	+0.012%	$13K	—	150x	as long as short
Lighter AVAX	+0.0096%	1h	11.129	−0.058%	$1.2M	$3.1M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.121	−0.130%	$18K	$633K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.127	−0.072%	$13K	$514	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.133	−0.026%	$2.3M	$1.6M	75x	as long as short
Pacifica AVAX	+0.0100%	1h	11.132	−0.036%	$296K	$106K	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	11.123	−0.110%	$118.3M	$488.9M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.124	−0.103%	$88.5M	$149.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.119	−0.148%	$19.9M	$134.5M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.128	−0.067%	$12.2M	$38.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.128	−0.067%	$49.1M	$88.4M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.133	−0.022%	$15.4M	$23.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.125	−0.094%	$33.7M	$55.2M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.127	−0.076%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.135	−0.004%	$356K	$558K	15x	as long as short
Variational Omni AVAX	+0.0100%	8h	11.134	−0.015%	$2.9M	$2.3M	—	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.133	−0.024%	$359K	$851K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.135	−0.004%	$179K	$688K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.123	−0.112%	$131K	$376K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.143	+0.067%	$196K	$313K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.169	+0.303%	$12K	$726K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.136	+0.004%	$19K	$72K	10x	as long as short
HTX AVAX-USDTlong	+0.0100%	8h	11.136	long leg	$361K	$955K	75x
Phemex AVAXUSDT	+0.0100%	8h	11.139	+0.031%	$30.0M	$4.9M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.124	−0.102%	$667K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.133	−0.018%	$256K	—	3x	as long as short
Kraken Futures PF_AVAXUSD	+0.0216%	1h	11.140	+0.039%	$4.3M	$12.8M	50x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.131	−0.040%	$5.0M	$6.5M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.120	−0.141%	$1K	—	20x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0304%	1h	11.134	−0.013%	$904K	$7.0M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0436% / S −0.0260%	1h	11.136	+0.001%	$249K	—	120x	as long as short
Hyperliquid AVAX	+0.0664%	1h	11.150	+0.130%	$43.5M	$51.0M	10x	as long as short