Funding arb · Price arb /

AXS

all AXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Bybit0.000%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$222as in the Price arb table

costs, in and out, $10k−$2252.254% of the position

Long on Bybit Short on KuCoin

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)−0.022%−$2 · spread now 0.000%, 7d avg −0.031%

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: KuCoin is 0.031% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0720	0.0100	pay 0.0100% / 8h	2h 13m	$3.7M	$4.3M	75x
Short	KuCoin AXSUSDTM	1.0720	0.0100	get 0.0050% / 4h	2h 13m	$582K	$289K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.031%: $3.08
Slippage, 4 orders: −$202.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$222.3
Costs to cover: 2.254%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; KuCoin: live order book, 46 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, 5 min ago	2.80 bp	23.5 bp −$23	125.5 bp −$1,255	doesn't fit	doesn't fit
Sell KuCoin live order book, 46 min ago	4.68 bp	80.2 bp −$80	269.2 bp −$2,692	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
Injective AXS/USDC PERP	+0.0033%	1h	1.0580	−1.306%	$1K	$48K	5.5x	as long as short
Lighter AXS	+0.0096%	1h	1.0744	+0.224%	$37K	$39K	5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0720	0.000%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0734	+0.131%	$263K	$680K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0722	+0.019%	$73K	$15K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0720	0.000%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0720	long leg	$3.7M	$4.3M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0710	−0.093%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0732	+0.112%	$850K	$831K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0708	−0.112%	$11.5M	$674K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTMshort	+0.0100%	4h	1.0720	0.000%	$582K	$289K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0720	0.000%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0721	+0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0707	−0.119%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0710	−0.093%	$762K	$910K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0723	+0.028%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0717	−0.028%	$763	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0725	+0.046%	$10K	$228K	10x	as long as short
BloFin AXS-USDT	+0.0149%	4h	1.0721	+0.009%	$277K	$30K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0413%	1h	1.0724	+0.041%	$142K	$352K	20x	as long as short