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: MEXC against Bybit−0.094%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$620.624% of the position

Long on Bybit Short on MEXC

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+0.074%+$7 · spread now −0.094%, 7d avg −0.037%

Together, before fees+0.103%+$10 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: MEXC is 0.057% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0666	0.0100	pay 0.0100% / 8h	4h 46m	$3.7M	$4.2M	75x
Short	MEXC AXS_USDT	1.0656	0.0100	get 0.0050% / 4h	46m 44s	$11.3M	$667K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.037%: −$5.66
Slippage, 4 orders: −$47.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$68.11
Costs to cover: 0.624%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; MEXC: live order book, 1 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	2.34 bp	24.7 bp −$25	104.3 bp −$1,043	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.94 bp	5.2 bp −$5	22.3 bp −$223	58.5 bp −$5,854	106.0 bp −$53.0K

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	+0.506%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0062%	4h	1.0655	−0.103%	$276K	$24K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0660	−0.056%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0682	+0.150%	$32K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0661	−0.047%	$257K	$311K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0659	−0.069%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0658	−0.071%	$6.0M	$10.2M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0666	long leg	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0655	−0.103%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0646	−0.188%	$848K	$898K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDTshort	+0.0100%	4h	1.0656	−0.094%	$11.3M	$667K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0660	−0.056%	$598K	$300K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0650	−0.150%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0659	−0.066%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0667	+0.011%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0650	−0.149%	$756K	$876K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0663	−0.028%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0657	−0.084%	$743	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0656	−0.097%	$7K	$243K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0441%	1h	1.0662	−0.039%	$138K	$349K	20x	as long as short