Funding you earn now, next payment 00:00 UTC−0.0715%/8h= −78.3% APRpaid last 24h −0.117%
Price spread now: Orderly against Hyperliquid−0.104%7-day average −0.019% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.043%−$4 on $10k
+Price spread, last 3 days (all we have)+0.028%+$3 · spread now −0.104%, 7d avg −0.019%
=Together, before fees−0.015%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Orderly is 0.085% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.019%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.3% 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 | Hyperliquid AVAX | 11.268 | 0.0815 | pay 0.0102% / 1h | 49m 49s | $43.6M | $55.2M | 10x |
| Short | Orderly PERP_AVAX_USDC | 11.256 | 0.0100 | get 0.0100% / 8h | 49m 49s | $205K | $303K | 20x |
Hyperliquid AVAX
Orderly PERP_AVAX_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$150.21
- Price spread: −0.104% → −0.019%
- −$8.48
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$173.7
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hyperliquid: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.
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, 4 min ago | 0.44 bp | 7.2 bp −$7 | 14.1 bp −$141 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.601% | $17K | $151K | 12x | as long as short |
| Deribit AVAX_USDC-PERPETUAL | −0.0106% | 1h | 11.245 | −0.201% | $5.3M | $9.0M | 25x | as long as short |
| Nado AVAX-PERP | −0.0096% | 1h | 11.255 | −0.113% | $297K | $885K | 10x | as long as short |
| dYdX AVAX-USD | 0.0000% | 1h | 11.274 | +0.058% | $104K | $111K | 10x | as long as short |
| gTrade (Gains Network) AVAX/USD | L +0.0002% / S −0.0003% | 1h | 11.248 | −0.175% | $13K | — | 150x | as long as short |
| Variational Omni AVAX | +0.0051% | 8h | 11.270 | +0.021% | $3.0M | $2.4M | — | as long as short |
| Lighter AVAX | +0.0096% | 1h | 11.248 | −0.171% | $1.2M | $3.3M | 10x | as long as short |
| Popdex AVAXUSDT | +0.0096% | 1h | 11.252 | −0.139% | $18K | $677K | 50x | as long as short |
| Paradex AVAX-USD-PERP | +0.0100% | 8h | 11.275 | +0.063% | $13K | $766 | 20x | as long as short |
| Aster AVAXUSDT | +0.0100% | 8h | 11.251 | −0.145% | $2.3M | $1.8M | 75x | as long as short |
Injective AVAX/USDC PERP
Deribit AVAX_USDC-PERPETUAL
Nado AVAX-PERP
dYdX AVAX-USD
gTrade (Gains Network) AVAX/USD
Variational Omni AVAX
Lighter AVAX
Popdex AVAXUSDT
Paradex AVAX-USD-PERP
Aster AVAXUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica AVAX | +0.0100% | 1h | 11.279 | +0.103% | $300K | $120K | 10x | as long as short |
| Binance AVAXUSDT | +0.0100% | 8h | 11.249 | −0.163% | $120.5M | $519.6M | 75x | as long as short |
| Bybit AVAXUSDT | +0.0100% | 8h | 11.247 | −0.184% | $89.5M | $156.2M | 75x | as long as short |
| OKX AVAX-USDT-SWAP | +0.0100% | 8h | 11.247 | −0.184% | $20.2M | $145.2M | 50x | as long as short |
| Gate AVAX_USDT | +0.0100% | 8h | 11.249 | −0.166% | $12.3M | $40.1M | 75x | as long as short |
| MEXC AVAX_USDT | +0.0100% | 8h | 11.250 | −0.157% | $51.3M | $93.0M | 200x | as long as short |
| KuCoin AVAXUSDTM | +0.0100% | 8h | 11.256 | −0.104% | $15.8M | $24.4M | 75x | as long as short |
| Bitget AVAXUSDT | +0.0100% | 8h | 11.250 | −0.157% | $34.3M | $59.4M | 75x | as long as short |
| BingX AVAX-USDC | +0.0100% | 8h | 11.248 | −0.175% | — | $6.5M | — | as long as short |
| Backpack AVAX_USDC_PERP | +0.0100% | 1h | 11.247 | −0.184% | $360K | $569K | 15x | as long as short |
| GRVT AVAX_USDT_Perp | +0.0100% | 8h | 11.253 | −0.132% | $359K | $877K | 10x | as long as short |
| ApeX Omni AVAXUSDT | +0.0100% | 1h | 11.266 | −0.015% | $181K | $685K | 50x | as long as short |
| Polymarket Perps AVAX-USD | +0.0100% | 1h | 11.254 | −0.122% | $134K | $439K | 10x | as long as short |
| Orderly PERP_AVAX_USDCshort | +0.0100% | 8h | 11.256 | −0.104% | $205K | $303K | 20x | |
| SunX AVAX-USDT | +0.0100% | 8h | 11.307 | +0.349% | $12K | $733K | 20x | as long as short |
| SoDEX AVAX-USD | +0.0100% | 1h | 11.245 | −0.201% | $19K | $72K | 10x | as long as short |
| HTX AVAX-USDT | +0.0100% | 8h | 11.246 | −0.188% | $363K | $1.0M | 75x | as long as short |
| Phemex AVAXUSDT | +0.0100% | 8h | 11.248 | −0.175% | $30.2M | $5.0M | 50x | as long as short |
| Extended AVAX-USD | +0.0104% | 1h | 11.247 | −0.185% | $672K | $2.1M | 25x | as long as short |
| Aevo AVAX-PERP | +0.0104% | 1h | 11.244 | −0.212% | $258K | — | 3x | as long as short |
| BloFin AVAX-USDT | +0.0220% | 8h | 11.269 | +0.012% | $5.0M | $7.8M | 100x | as long as short |
| Reya AVAXRUSDPERP | +0.0244% | 1h | 11.250 | −0.161% | $1K | — | 20x | as long as short |
| Kraken Futures PF_AVAXUSD | +0.0270% | 1h | 11.248 | −0.179% | $4.6M | $13.3M | 50x | as long as short |
| Coinbase International AVAX-PERP-INTX | +0.0280% | 1h | 11.272 | +0.038% | $918K | $8.1M | 50x | as long as short |
| GMX AVAX/USD [AVAX-USDC] | L +0.0417% / S −0.0269% | 1h | 11.247 | −0.183% | $237K | — | 120x | as long as short |
| Hyperliquid AVAXlong | +0.0815% | 1h | 11.268 | long leg | $43.6M | $55.2M | 10x |
Pacifica AVAX
Binance AVAXUSDT
Bybit AVAXUSDT
OKX AVAX-USDT-SWAP
Gate AVAX_USDT
MEXC AVAX_USDT
KuCoin AVAXUSDTM
Bitget AVAXUSDT
BingX AVAX-USDC
Backpack AVAX_USDC_PERP
GRVT AVAX_USDT_Perp
ApeX Omni AVAXUSDT
Polymarket Perps AVAX-USD
SunX AVAX-USDT
SoDEX AVAX-USD
HTX AVAX-USDT
Phemex AVAXUSDT
Extended AVAX-USD
Aevo AVAX-PERP
BloFin AVAX-USDT
Reya AVAXRUSDPERP
Kraken Futures PF_AVAXUSD
Coinbase International AVAX-PERP-INTX
GMX AVAX/USD [AVAX-USDC]