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: MEXC against BingX+0.038%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$430.425% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days−0.059%−$6 · spread now +0.038%, 7d avg −0.024%

Together, before fees−0.109%−$11 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: MEXC is 0.061% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0637	0.0100	pay 0.0050% / 4h	48m 48s	—	$2.6M	—
Short	MEXC AXS_USDT	1.0641	0.0100	get 0.0050% / 4h	48m 48s	$11.3M	$667K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → −0.024%: $6.12
Slippage, 4 orders: −$28.53
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$36.41
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; MEXC: 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 BingX live order book, 1 min ago	4.23 bp	14.9 bp −$15	38.4 bp −$384	354.6 bp −$35.5K	513.0 bp −$256.5K
Sell MEXC live order book, 4 min ago	0.94 bp	4.8 bp −$5	31.8 bp −$318	51.8 bp −$5,181	85.3 bp −$42.7K

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	+0.780%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0071%	4h	1.0658	+0.197%	$276K	$24K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0640	+0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0668	+0.291%	$32K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0651	+0.132%	$257K	$311K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0645	+0.076%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0633	−0.038%	$6.0M	$10.1M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0651	+0.132%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0639	+0.019%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0642	+0.047%	$848K	$897K	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_USDTshort	+0.0100%	4h	1.0641	+0.038%	$11.3M	$667K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0650	+0.122%	$597K	$300K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0640	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0637	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0667	+0.283%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0688	+0.478%	$760K	$876K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0643	+0.056%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0638	+0.009%	$743	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0634	−0.028%	$7K	$243K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0441%	1h	1.0649	+0.110%	$138K	$348K	20x	as long as short