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: Gate against Bitget+0.122%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$228as in the Funding arb table

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

costs, in and out, $10k−$2282.279% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.122%, 7d avg +0.037%

Together, before fees+0.027%+$3 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 0.085% dearer against Bitget than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AXSUSDT	1.0650	0.0100	pay 0.0050% / 4h	2h 17m	$3.1M	$1.2M	50x
Short	Gate AXS_USDT	1.0663	0.0100	get 0.0100% / 8h	2h 17m	$962K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.122%Rate

Funding earned: $0
Price spread: +0.122% → +0.037%: $8.49
Slippage, 4 orders: −$200.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$219.44
Costs to cover: 2.279%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	9.38 bp	22.4 bp −$22	47.1 bp −$471	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	10.78 bp	92.8 bp −$93	307.8 bp −$3,078	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	−0.0337%	1h	1.0674	+0.223%	$140K	$323K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.657%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0660	+0.094%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0087%	4h	1.0656	+0.056%	$272K	$30K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0668	+0.169%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0651	+0.009%	$262K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0665	+0.137%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0645	−0.047%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0651	+0.009%	$3.2M	$3.6M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0649	−0.009%	$1.4M	$2.7M	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	1.0663	+0.122%	$962K	$1.0M	50x
MEXC AXS_USDT	+0.0100%	4h	1.0652	+0.019%	$11.1M	$764K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0660	+0.094%	$575K	$294K	50x	as long as short
Bitget AXSUSDTlong	+0.0100%	4h	1.0650	long leg	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0663	+0.122%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0656	+0.056%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0657	+0.062%	$761K	$907K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0661	+0.103%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0663	+0.122%	$701	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0646	−0.040%	$7K	$156K	10x	as long as short