Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Bybit+0.037%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.037% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0816	0.0100	pay 0.0100% / 8h	7h 06m	$3.7M	$4.1M	75x
Short	SoDEX AXS-USD	1.0820	0.0100	get 0.0013% / 1h	6m 51s	$715	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → 0.000%: $3.7
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$15.3
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; SoDEX: no order-book sample. Net counts fees only.

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	0.92 bp	19.1 bp −$19	85.7 bp −$857	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0259%	1h	1.0835	+0.174%	$147K	$330K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.888%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0057%	4h	1.0827	+0.102%	$279K	$17K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0820	+0.037%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0846	+0.277%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0825	+0.083%	$266K	$307K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0834	+0.166%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0810	−0.055%	$6.1M	$9.8M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0816	long leg	$3.7M	$4.1M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0812	−0.037%	$1.5M	$2.9M	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_USDT	+0.0100%	8h	1.0813	−0.028%	$864K	$1.1M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0802	−0.129%	$11.5M	$745K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0820	+0.037%	$611K	$313K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0810	−0.055%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0824	+0.074%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0796	−0.183%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0812	−0.041%	$771K	$902K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0820	+0.037%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USDshort	+0.0100%	1h	1.0820	+0.037%	$715	$3K	5x
Extended AXS-USD	+0.0104%	1h	1.0819	+0.028%	$7K	$241K	10x	as long as short