AVAX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0856%/8h= −93.8% APRnext payment −$1.07 per $10,000 · paid last 24h −0.099%

Price spread now: dYdX against Hyperliquid−0.173%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$310as in the Funding arb table

Net, price: spread back to 7d avg − costs−$303as in the Price arb table

costs, in and out, $10k−$2922.920% of the position

Long on Hyperliquid Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.173%, 7d avg −0.062%

Together, before fees−0.035%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and dYdX is 0.111% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.062%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.185% in total (about -9.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.07 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	11.266	0.0856	pay 0.0107% / 1h	42m 38s	$43.7M	$55.3M	10x
Short	dYdX AVAX-USD	11.247	0	get 0.0000% / 1h	42m 38s	$103K	$111K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$179.83
Price spread: −0.173% → −0.062%: −$11.06
Slippage, 4 orders: −$273
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$482.9
Costs to cover: 2.920%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; dYdX: live order book, 36 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, 11 min ago	0.44 bp	7.2 bp −$7	14.1 bp −$141	doesn't fit	doesn't fit
Sell dYdX live order book, 36 min ago	133.65 bp	138.7 bp −$139	139.4 bp −$1,394	140.2 bp −$14.0K	181.0 bp −$90.5K

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	−0.1451%	1h	11.200	−0.586%	$17K	$151K	12x	as long as short
Deribit AVAX_USDC-PERPETUAL	−0.0195%	1h	11.237	−0.257%	$5.3M	$8.9M	25x	as long as short
Nado AVAX-PERP	−0.0090%	1h	11.246	−0.178%	$297K	$885K	10x	as long as short
dYdX AVAX-USDshort	0.0000%	1h	11.247	−0.173%	$103K	$111K	10x
gTrade (Gains Network) AVAX/USD	L +0.0002% / S −0.0003%	1h	11.244	−0.195%	$13K	—	150x	as long as short
Variational Omni AVAX	+0.0062%	8h	11.258	−0.070%	$3.0M	$2.4M	—	as long as short
Lighter AVAX	+0.0096%	1h	11.247	−0.172%	$1.2M	$3.3M	10x	as long as short
Popdex AVAXUSDT	+0.0096%	1h	11.239	−0.240%	$18K	$676K	50x	as long as short
Paradex AVAX-USD-PERP	+0.0100%	8h	11.241	−0.220%	$13K	$766	20x	as long as short
Aster AVAXUSDT	+0.0100%	8h	11.249	−0.151%	$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	11.250	−0.138%	$299K	$118K	10x	as long as short
Binance AVAXUSDT	+0.0100%	8h	11.245	−0.183%	$120.3M	$517.8M	75x	as long as short
Bybit AVAXUSDT	+0.0100%	8h	11.243	−0.204%	$89.4M	$155.8M	75x	as long as short
OKX AVAX-USDT-SWAP	+0.0100%	8h	11.242	−0.213%	$20.2M	$144.8M	50x	as long as short
Gate AVAX_USDT	+0.0100%	8h	11.246	−0.178%	$12.2M	$40.1M	75x	as long as short
MEXC AVAX_USDT	+0.0100%	8h	11.243	−0.204%	$52.2M	$93.1M	200x	as long as short
KuCoin AVAXUSDTM	+0.0100%	8h	11.255	−0.098%	$15.8M	$24.3M	75x	as long as short
Bitget AVAXUSDT	+0.0100%	8h	11.242	−0.213%	$34.3M	$59.0M	75x	as long as short
BingX AVAX-USDC	+0.0100%	8h	11.243	−0.204%	—	$6.5M	—	as long as short
Backpack AVAX_USDC_PERP	+0.0100%	1h	11.248	−0.160%	$360K	$564K	15x	as long as short
GRVT AVAX_USDT_Perp	+0.0100%	8h	11.246	−0.178%	$352K	$862K	10x	as long as short
ApeX Omni AVAXUSDT	+0.0100%	1h	11.250	−0.142%	$181K	$684K	50x	as long as short
Polymarket Perps AVAX-USD	+0.0100%	1h	11.246	−0.178%	$132K	$440K	10x	as long as short
Orderly PERP_AVAX_USDC	+0.0100%	8h	11.251	−0.133%	$204K	$303K	20x	as long as short
SunX AVAX-USDT	+0.0100%	8h	11.274	+0.071%	$12K	$733K	20x	as long as short
SoDEX AVAX-USD	+0.0100%	1h	11.239	−0.240%	$19K	$72K	10x	as long as short
HTX AVAX-USDT	+0.0100%	8h	11.246	−0.173%	$363K	$1.0M	75x	as long as short
Phemex AVAXUSDT	+0.0100%	8h	11.247	−0.169%	$30.2M	$5.0M	50x	as long as short
Extended AVAX-USD	+0.0104%	1h	11.239	−0.239%	$672K	$2.1M	25x	as long as short
Aevo AVAX-PERP	+0.0104%	1h	11.238	−0.247%	$258K	—	3x	as long as short
BloFin AVAX-USDT	+0.0220%	8h	11.248	−0.160%	$5.0M	$7.7M	100x	as long as short
Reya AVAXRUSDPERP	+0.0244%	1h	11.242	−0.212%	$1K	—	20x	as long as short
Kraken Futures PF_AVAXUSD	+0.0270%	1h	11.251	−0.133%	$4.6M	$13.2M	50x	as long as short
Coinbase International AVAX-PERP-INTX	+0.0280%	1h	11.254	−0.107%	$917K	$8.0M	50x	as long as short
GMX AVAX/USD [AVAX-USDC]	L +0.0420% / S −0.0272%	1h	11.243	−0.202%	$237K	—	120x	as long as short
Hyperliquid AVAXlong	+0.0856%	1h	11.266	long leg	$43.7M	$55.3M	10x