Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Binance−0.019%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$720.717% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.019%, 7d avg +0.003%

Together, before fees−0.117%−$12 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: OKX is 0.022% cheaper against Binance than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AXSUSDT	1.0690	0.0100	pay 0.0050% / 4h	1h 37m	$6.1M	$10.0M	75x
Short	OKX AXS-USDT-SWAP	1.0688	0.0100	get 0.0050% / 4h	1h 37m	$1.4M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.003%: −$2.16
Slippage, 4 orders: −$51.74
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$73.9
Costs to cover: 0.717%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; OKX: 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, 2 min ago	0.93 bp	16.9 bp −$17	43.6 bp −$436	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.34 bp	17.8 bp −$18	doesn't fit	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
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.281%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0051%	4h	1.0702	+0.112%	$275K	$23K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0089%	4h	1.0690	0.000%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0721	+0.290%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0693	+0.028%	$258K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0702	+0.108%	$73K	$14K	10x	as long as short
Binance AXSUSDTlong	+0.0100%	4h	1.0690	long leg	$6.1M	$10.0M	75x
Bybit AXSUSDT	+0.0100%	8h	1.0696	+0.056%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0688	−0.019%	$1.4M	$2.9M	20x
Gate AXS_USDT	+0.0100%	8h	1.0694	+0.037%	$852K	$953K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0687	−0.028%	$11.3M	$706K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0690	0.000%	$599K	$301K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0690	0.000%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0696	+0.056%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0713	+0.219%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0720	+0.281%	$758K	$883K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0687	−0.028%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0690	0.000%	$733	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0689	−0.009%	$7K	$245K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0362%	1h	1.0700	+0.090%	$145K	$335K	20x	as long as short