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: Bitget against Bybit−0.170%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$910.913% of the position

Long on Bybit Short on Bitget

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+0.086%+$9 · spread now −0.170%, 7d avg −0.028%

Together, before fees+0.132%+$13 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: Bitget is 0.142% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0608	0.0100	pay 0.0100% / 8h	2h 55m	$3.2M	$3.6M	75x
Short	Bitget AXSUSDT	1.0590	0.0100	get 0.0050% / 4h	2h 55m	$3.1M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.170%Rate

Funding earned: $0
Price spread: −0.170% → −0.028%: −$14.18
Slippage, 4 orders: −$68.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$105.52
Costs to cover: 0.913%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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 Bybit live order book, 2 min ago	2.36 bp	23.2 bp −$23	92.5 bp −$925	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	4.72 bp	20.1 bp −$20	58.6 bp −$586	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	−0.0339%	1h	1.0607	−0.014%	$138K	$328K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+1.056%	$5	$47K	5.5x	as long as short
SoDEX AXS-USD	+0.0071%	1h	1.0597	−0.104%	$724	$3K	5x	as long as short
Orderly PERP_AXS_USDC	+0.0077%	4h	1.0610	+0.019%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0094%	4h	1.0598	−0.094%	$272K	$30K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0635	+0.255%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0602	−0.057%	$261K	$295K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0610	+0.022%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0611	+0.028%	$5.9M	$9.4M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0608	long leg	$3.2M	$3.6M	75x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0608	0.000%	$1.4M	$2.7M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0608	0.000%	$956K	$1.0M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0596	−0.113%	$11.1M	$760K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0600	−0.075%	$572K	$294K	50x	as long as short
Bitget AXSUSDTshort	+0.0100%	4h	1.0590	−0.170%	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0599	−0.085%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0617	+0.082%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0610	+0.019%	$752K	$927K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0599	−0.085%	$1K	$1.3M	20x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0598	−0.096%	$7K	$156K	10x	as long as short