Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit−0.019%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2152.146% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now −0.019%, 7d avg +0.009%

Together, before fees+0.114%+$11 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 0.028% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0794	0.0100	pay 0.0100% / 8h	7h 41m	$3.7M	$4.1M	75x
Short	Gate AXS_USDT	1.0792	0.0100	get 0.0100% / 8h	7h 41m	$972K	$904K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.009%: −$2.75
Slippage, 4 orders: −$188.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$217.38
Costs to cover: 2.146%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Gate: live order book, 15 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, 1 min ago	3.24 bp	25.8 bp −$26	76.9 bp −$769	doesn't fit	doesn't fit
Sell Gate live order book, 15 min ago	7.40 bp	85.7 bp −$86	253.8 bp −$2,538	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	−0.0260%	1h	1.0812	+0.168%	$145K	$323K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.686%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0081%	4h	1.0790	−0.037%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0810	+0.148%	$29K	$36K	5x	as long as short
BloFin AXS-USDT	+0.0098%	4h	1.0788	−0.056%	$277K	$18K	75x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0793	−0.009%	$270K	$305K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0797	+0.032%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0786	−0.073%	$6.1M	$9.7M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0794	long leg	$3.7M	$4.1M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0784	−0.093%	$1.4M	$3.0M	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	1.0792	−0.019%	$972K	$904K	50x
MEXC AXS_USDT	+0.0100%	4h	1.0787	−0.065%	$11.5M	$742K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0800	+0.056%	$625K	$308K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0790	−0.037%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0796	+0.019%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0769	−0.233%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0780	−0.130%	$770K	$900K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0810	+0.148%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0800	+0.056%	$714	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0786	−0.070%	$7K	$196K	10x	as long as short