Funding arb · Price arb /

AXS

all AXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Gate against BingX−0.047%7-day average +0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2112.113% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 4 days (all we have)+0.095%+$9 · spread now −0.047%, 7d avg +0.032%

Together, before fees+0.060%+$6 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: Gate is 0.079% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0634	0.0100	pay 0.0050% / 4h	2h 55m	—	$2.6M	—
Short	Gate AXS_USDT	1.0629	0.0100	get 0.0100% / 8h	6h 55m	$848K	$991K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → +0.032%: −$7.91
Slippage, 4 orders: −$186.31
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$219.21
Costs to cover: 2.113%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Gate: live order book, 7 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, 8 min ago	4.17 bp	17.5 bp −$17	38.5 bp −$385	337.8 bp −$33.8K	473.4 bp −$236.7K
Sell Gate live order book, 7 min ago	7.46 bp	88.0 bp −$88	366.9 bp −$3,669	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	+0.809%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0076%	4h	1.0630	−0.038%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0089%	4h	1.0694	+0.564%	$276K	$17K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0647	+0.122%	$28K	$36K	5x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0636	+0.019%	$708	$3K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0628	−0.056%	$258K	$314K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0633	−0.006%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0633	−0.005%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0642	+0.075%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0631	−0.028%	$1.4M	$2.9M	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_USDTshort	+0.0100%	8h	1.0629	−0.047%	$848K	$991K	50x
MEXC AXS_USDT	+0.0100%	4h	1.0636	+0.019%	$11.3M	$724K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0640	+0.056%	$600K	$313K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0630	−0.038%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0634	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0641	+0.069%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0693	+0.558%	$759K	$893K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0638	+0.038%	$1K	$1.3M	20x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0632	−0.021%	$7K	$241K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0359%	1h	1.0654	+0.188%	$145K	$332K	20x	as long as short