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 +0.005%

Price spread now: BingX against Bybit+0.103%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$850.851% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.101%−$10 · spread now +0.103%, 7d avg −0.013%

Together, before fees−0.022%−$2 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: BingX is 0.116% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0675	0.0100	pay 0.0100% / 8h	4h 52m	$3.7M	$4.2M	75x
Short	BingX AXS-USDT	1.0686	0.0100	get 0.0050% / 4h	52m 21s	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → −0.013%: $11.63
Slippage, 4 orders: −$64.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$73.51
Costs to cover: 0.851%
Break-even: never at this rate

Slippage from Bybit: live order book, just now; BingX: live order book, 12 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, just now	3.28 bp	24.6 bp −$25	105.6 bp −$1,056	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	4.22 bp	20.1 bp −$20	45.4 bp −$454	324.8 bp −$32.5K	452.0 bp −$226.0K

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	+0.422%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0660	−0.141%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0700	+0.234%	$32K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0679	+0.037%	$257K	$309K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0683	+0.072%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0668	−0.061%	$6.1M	$10.1M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0675	long leg	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0668	−0.066%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0681	+0.056%	$851K	$897K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0675	0.000%	$11.4M	$666K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0670	−0.047%	$598K	$300K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0670	−0.047%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0686	+0.103%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0721	+0.433%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0676	+0.009%	$759K	$875K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0685	+0.094%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0695	+0.187%	$745	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0670	−0.046%	$7K	$243K	10x	as long as short
BloFin AXS-USDT	+0.0143%	4h	1.0692	+0.159%	$278K	$24K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0439%	1h	1.0705	+0.282%	$139K	$346K	20x	as long as short