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: KuCoin against BingX+0.028%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2182.178% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.028%, 7d avg −0.003%

Together, before fees−0.085%−$8 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: KuCoin is 0.031% dearer against BingX than usual: you sell high and buy low, +$3 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	BingX AXS-USDT	1.0747	0.0100	pay 0.0050% / 4h	2h 22m	—	$2.6M	—
Short	KuCoin AXSUSDTM	1.0750	0.0100	get 0.0050% / 4h	2h 22m	$603K	$304K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.003%: $3.06
Slippage, 4 orders: −$195.76
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$214.7
Costs to cover: 2.178%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; KuCoin: live order book, 16 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, 7 min ago	4.20 bp	16.7 bp −$17	43.3 bp −$433	365.8 bp −$36.6K	495.1 bp −$247.5K
Sell KuCoin live order book, 16 min ago	4.69 bp	105.2 bp −$105	279.5 bp −$2,795	doesn't fit	doesn't fit

AXS on 19 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	−0.251%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0750	+0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0777	+0.279%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0755	+0.074%	$260K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0756	+0.084%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0750	+0.025%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0758	+0.102%	$3.8M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0747	0.000%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0746	−0.009%	$856K	$995K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0750	+0.028%	$11.4M	$728K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTMshort	+0.0100%	4h	1.0750	+0.028%	$603K	$304K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0760	+0.121%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0747	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0755	+0.077%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0747	+0.001%	$762K	$920K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0738	−0.084%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0740	−0.065%	$716	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0747	+0.001%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0356%	1h	1.0754	+0.064%	$145K	$332K	20x	as long as short