Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Bitget+0.121%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$1021.015% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 7 days−0.115%−$12 · spread now +0.121%, 7d avg +0.027%

Together, before fees−0.162%−$16 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: Bybit is 0.094% dearer against Bitget than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AXSUSDT	1.0780	0.0100	pay 0.0050% / 4h	10m 43s	$3.1M	$1.2M	50x
Short	Bybit AXSUSDT	1.0793	0.0100	get 0.0100% / 8h	10m 43s	$3.7M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.027%: $9.38
Slippage, 4 orders: −$78.53
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$92.15
Costs to cover: 1.015%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Bybit: live order book, 2 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 Bitget live order book, 2 min ago	4.64 bp	30.5 bp −$30	55.8 bp −$558	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.46 bp	20.8 bp −$21	70.1 bp −$701	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
Kraken Futures PF_AXSUSD	−0.0239%	1h	1.0787	+0.069%	$141K	$315K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.557%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0780	0.000%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0814	+0.315%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0788	+0.074%	$266K	$301K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0782	+0.020%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0783	+0.028%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0793	+0.121%	$3.7M	$4.0M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0783	+0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0785	+0.046%	$971K	$1.0M	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	1.0780	0.000%	$11.4M	$750K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0780	0.000%	$611K	$305K	50x	as long as short
Bitget AXSUSDTlong	+0.0100%	4h	1.0780	long leg	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0788	+0.074%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0789	+0.088%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0782	+0.020%	$770K	$893K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0785	+0.046%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0778	−0.019%	$714	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0781	+0.008%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0126%	4h	1.0776	−0.037%	$273K	$17K	75x	as long as short