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: Bybit against MEXC−0.038%7-day average +0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1101.102% of the position

Long on MEXC Short on Bybit

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)+0.067%+$7 · spread now −0.038%, 7d avg +0.092%

Together, before fees+0.443%+$44 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: Bybit is 0.130% cheaper against MEXC than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXL_USDT	0.05245	0.0100	pay 0.0050% / 4h	3h 11m	$326K	$168K	50x
Short	Bybit AXLUSDT	0.05243	0.0100	get 0.0050% / 4h	3h 11m	$1.5M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.092%: −$12.98
Slippage, 4 orders: −$95.15
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.13
Costs to cover: 1.102%
Break-even: never at this rate

Slippage from MEXC: live order book, 24 min ago; Bybit: live order book, 5 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 MEXC live order book, 24 min ago	2.87 bp	14.5 bp −$14	57.3 bp −$573	117.8 bp −$11.8K	doesn't fit
Sell Bybit live order book, 5 min ago	4.77 bp	39.8 bp −$40	182.2 bp −$1,822	doesn't fit	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	0.05242	−0.057%	—	$2.3M	—	as long as short
BloFin AXL-USDT	+0.0073%	4h	0.05247	+0.038%	$120K	$10K	50x	as long as short
Aster AXLUSDT	+0.0100%	4h	0.05244	−0.028%	$34K	$7K	5x	as long as short
Binance AXLUSDT	+0.0100%	4h	0.05243	−0.038%	$1.8M	$3.5M	50x	as long as short
Bybit AXLUSDTshort	+0.0100%	4h	0.05243	−0.038%	$1.5M	$1.6M	25x
MEXC AXL_USDTlong	+0.0100%	4h	0.05245	long leg	$326K	$168K	50x
KuCoin AXLUSDTM	+0.0100%	4h	0.05243	−0.038%	$438K	$84K	30x	as long as short
Bitget AXLUSDT	+0.0100%	4h	0.05241	−0.076%	$576K	$274K	50x	as long as short
Variational Omni AXL	+0.0100%	4h	0.05241	−0.084%	$6K	$23K	—	as long as short