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: Bybit against Gate+0.074%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$208as in the Price arb table

costs, in and out, $10k−$2162.155% of the position

Long on Gate Short on Bybit

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)−0.244%−$24 · spread now +0.074%, 7d avg −0.004%

Together, before fees−0.288%−$29 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: Bybit is 0.079% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0761	0.0100	pay 0.0100% / 8h	5h 17m	$857K	$954K	50x
Short	Bybit AXSUSDT	1.0769	0.0100	get 0.0100% / 8h	5h 17m	$3.8M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → −0.004%: $7.85
Slippage, 4 orders: −$189.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$207.66
Costs to cover: 2.155%
Break-even: never at this rate

Slippage from Gate: live order book, 29 min ago; Bybit: live order book, 5 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, 29 min ago	7.02 bp	74.3 bp −$74	248.3 bp −$2,483	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.71 bp	25.0 bp −$25	115.9 bp −$1,159	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	1.0720	−0.381%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0088%	4h	1.0784	+0.214%	$278K	$23K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0091%	4h	1.0760	−0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0786	+0.232%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0768	+0.065%	$259K	$309K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0764	+0.027%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0764	+0.027%	$6.1M	$10.0M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0769	+0.074%	$3.8M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0762	+0.009%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTlong	+0.0100%	8h	1.0761	long leg	$857K	$954K	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	1.0761	0.000%	$11.4M	$711K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0770	+0.084%	$604K	$301K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0760	−0.009%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0765	+0.037%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0786	+0.232%	$37K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0760	−0.010%	$773K	$872K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0770	+0.084%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0752	−0.084%	$748	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0760	−0.009%	$7K	$245K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0360%	1h	1.0766	+0.045%	$145K	$336K	20x	as long as short