Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Binance−0.019%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$940.937% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days−0.006%−$1 · spread now −0.019%, 7d avg +0.022%

Together, before fees−0.038%−$4 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 0.041% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AXSUSDT	1.0608	0.0100	pay 0.0050% / 4h	2h 38m	$5.9M	$9.4M	75x
Short	Bybit AXSUSDT	1.0606	0.0100	get 0.0100% / 8h	2h 38m	$3.2M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.022%: −$4.12
Slippage, 4 orders: −$72.69
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$97.81
Costs to cover: 0.937%
Break-even: never at this rate

Slippage from Binance: live order book, 1 min ago; Bybit: live order book, 4 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 Binance live order book, 1 min ago	0.47 bp	15.1 bp −$15	41.8 bp −$418	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.94 bp	28.7 bp −$29	88.7 bp −$887	doesn't fit	doesn't fit

AXS on 20 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
Kraken Futures PF_AXSUSD	−0.0339%	1h	1.0610	+0.016%	$138K	$324K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+1.056%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0074%	4h	1.0606	−0.019%	$270K	$30K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0610	+0.019%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0633	+0.236%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0611	+0.026%	$261K	$294K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0622	+0.128%	$72K	$11K	10x	as long as short
Binance AXSUSDTlong	+0.0100%	4h	1.0608	long leg	$5.9M	$9.4M	75x
Bybit AXSUSDTshort	+0.0100%	8h	1.0606	−0.019%	$3.2M	$3.6M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0610	+0.019%	$1.4M	$2.7M	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDT	+0.0100%	8h	1.0616	+0.075%	$957K	$1.0M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0605	−0.028%	$11.1M	$762K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0620	+0.113%	$573K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0610	+0.019%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0621	+0.123%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0616	+0.076%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0613	+0.047%	$757K	$914K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0612	+0.038%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0606	−0.019%	$712	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0605	−0.032%	$7K	$156K	10x	as long as short