Funding arb · Price arb /

AXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit−0.039%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1141.141% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now −0.039%, 7d avg −0.090%

Together, before fees−0.414%−$41 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.052% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXLUSDT	0.05191	0.0100	pay 0.0050% / 4h	2h 36m	$1.5M	$1.5M	25x
Short	MEXC AXL_USDT	0.05189	0.0100	get 0.0050% / 4h	2h 36m	$322K	$163K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.090%: $5.16
Slippage, 4 orders: −$99.08
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$108.92
Costs to cover: 1.141%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; MEXC: live order book, 58 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 Bybit live order book, 4 min ago	2.89 bp	41.5 bp −$42	218.7 bp −$2,187	doesn't fit	doesn't fit
Sell MEXC live order book, 58 min ago	2.87 bp	16.5 bp −$16	67.6 bp −$676	120.6 bp −$12.1K	doesn't fit

AXL on 9 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
BingX AXL-USDT	+0.0070%	4h	0.05190	−0.019%	—	$2.3M	—	as long as short
Aster AXLUSDT	+0.0100%	4h	0.05190	−0.019%	$34K	$7K	5x	as long as short
Binance AXLUSDT	+0.0100%	4h	0.05190	−0.019%	$1.8M	$3.4M	50x	as long as short
Bybit AXLUSDTlong	+0.0100%	4h	0.05191	long leg	$1.5M	$1.5M	25x
MEXC AXL_USDTshort	+0.0100%	4h	0.05189	−0.039%	$322K	$163K	50x
KuCoin AXLUSDTM	+0.0100%	4h	0.05196	+0.096%	$436K	$83K	30x	as long as short
Bitget AXLUSDT	+0.0100%	4h	0.05188	−0.058%	$568K	$280K	50x	as long as short
Variational Omni AXL	+0.0100%	4h	0.05187	−0.084%	$6K	$23K	—	as long as short
BloFin AXL-USDT	+0.0130%	4h	0.05186	−0.096%	$119K	$10K	50x	as long as short