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% APRpaid last 24h 0.000%

Price spread now: Binance against Bybit−0.049%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$830.833% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.049%, 7d avg −0.025%

Together, before fees+0.067%+$7 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: Binance is 0.024% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0692	0.0100	pay 0.0100% / 8h	6h 05m	$3.7M	$4.2M	75x
Short	Binance AXSUSDT	1.0687	0.0100	get 0.0050% / 4h	2h 05m	$6.0M	$10.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.025%: −$2.36
Slippage, 4 orders: −$62.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$85.64
Costs to cover: 0.833%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Binance: 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 Bybit live order book, 2 min ago	2.34 bp	26.8 bp −$27	107.1 bp −$1,071	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.94 bp	14.8 bp −$15	43.2 bp −$432	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	+0.262%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0084%	4h	1.0690	−0.019%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0714	+0.206%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0694	+0.019%	$258K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0696	+0.036%	$73K	$14K	10x	as long as short
Binance AXSUSDTshort	+0.0100%	4h	1.0687	−0.049%	$6.0M	$10.0M	75x
Bybit AXSUSDTlong	+0.0100%	8h	1.0692	long leg	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0683	−0.084%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0685	−0.065%	$851K	$997K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0688	−0.037%	$11.3M	$732K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0690	−0.019%	$599K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0690	−0.019%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0693	+0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0694	+0.020%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0671	−0.193%	$762K	$906K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0695	+0.028%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0693	+0.009%	$731	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0689	−0.027%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0358%	1h	1.0706	+0.129%	$145K	$338K	20x	as long as short