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 +0.010%

Price spread now: BingX against Gate+0.055%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2212.208% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.055%, 7d avg −0.033%

Together, before fees−0.073%−$7 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: BingX is 0.088% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0811	0.0100	pay 0.0100% / 8h	33m 39s	$973K	$1.0M	50x
Short	BingX AXS-USDT	1.0817	0.0100	get 0.0050% / 4h	33m 39s	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.055%Rate

Funding earned: $0
Price spread: +0.055% → −0.033%: $8.8
Slippage, 4 orders: −$195.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$212.03
Costs to cover: 2.208%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; BingX: 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 Gate live order book, 3 min ago	7.86 bp	98.5 bp −$99	263.5 bp −$2,635	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	4.16 bp	16.8 bp −$17	39.4 bp −$394	314.8 bp −$31.5K	449.1 bp −$224.6K

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	−0.0239%	1h	1.0811	−0.002%	$141K	$312K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.842%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0800	−0.102%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0829	+0.166%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0809	−0.018%	$265K	$298K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0803	−0.078%	$75K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0804	−0.065%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0822	+0.102%	$3.7M	$4.0M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0815	+0.037%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTlong	+0.0100%	8h	1.0811	long leg	$973K	$1.0M	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0807	−0.037%	$11.5M	$745K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0810	−0.009%	$613K	$306K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0820	+0.083%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0817	+0.055%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0816	+0.049%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0800	−0.101%	$772K	$892K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0806	−0.046%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0803	−0.074%	$710	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0806	−0.044%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0135%	4h	1.0795	−0.148%	$276K	$17K	75x	as long as short