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 −0.005%

Price spread now: Bitget against BingX+0.037%7-day average −0.015% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$940.938% of the position

Long on BingX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.037%, 7d avg −0.015%

Together, before fees−0.048%−$5 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: Bitget is 0.052% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0706	0.0100	pay 0.0050% / 4h	1h 44m	—	$2.6M	—
Short	Bitget AXSUSDT	1.0710	0.0100	get 0.0050% / 4h	1h 44m	$3.1M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against BingX. 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 BingXbpFee BitgetbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → −0.015%: $5.25
Slippage, 4 orders: −$71.85
Fee BingX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$88.6
Costs to cover: 0.938%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Bitget: live order book, 3 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 BingX live order book, 4 min ago	4.68 bp	19.7 bp −$20	41.3 bp −$413	368.6 bp −$36.9K	520.4 bp −$260.2K
Sell Bitget live order book, 3 min ago	4.68 bp	26.4 bp −$26	53.8 bp −$538	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	+0.131%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0087%	4h	1.0710	+0.037%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0730	+0.224%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0711	+0.047%	$258K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0707	+0.010%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0707	+0.006%	$6.1M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0711	+0.047%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0700	−0.056%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0701	−0.047%	$852K	$952K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0709	+0.028%	$11.4M	$706K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0710	+0.037%	$600K	$303K	50x	as long as short
Bitget AXSUSDTshort	+0.0100%	4h	1.0710	+0.037%	$3.1M	$1.2M	50x
BingX AXS-USDTlong	+0.0100%	4h	1.0706	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0700	−0.055%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0683	−0.211%	$756K	$883K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0693	−0.121%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0709	+0.028%	$733	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0704	−0.017%	$7K	$245K	10x	as long as short
BloFin AXS-USDT	+0.0118%	4h	1.0702	−0.037%	—	$23K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0361%	1h	1.0727	+0.193%	$145K	$339K	20x	as long as short