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 0.000%

Price spread now: MEXC against Gate+0.028%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1771.773% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.028%, 7d avg −0.056%

Together, before fees−0.113%−$11 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 0.084% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0627	0.0100	pay 0.0100% / 8h	2h 33m	$958K	$1.0M	50x
Short	MEXC AXS_USDT	1.0630	0.0100	get 0.0050% / 4h	2h 33m	$11.1M	$763K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.056%: $8.43
Slippage, 4 orders: −$158.32
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$168.9
Costs to cover: 1.773%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; MEXC: live order book, 4 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	13.65 bp	81.6 bp −$82	129.0 bp −$1,290	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.47 bp	2.5 bp −$2	37.0 bp −$370	62.9 bp −$6,290	106.2 bp −$53.1K

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	−0.0338%	1h	1.0637	+0.092%	$139K	$324K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.875%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0077%	4h	1.0630	+0.028%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0082%	4h	1.0632	+0.047%	$271K	$31K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0654	+0.254%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0634	+0.066%	$261K	$294K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0640	+0.121%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0631	+0.039%	$5.9M	$9.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0630	+0.028%	$3.2M	$3.6M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0637	+0.094%	$1.4M	$2.7M	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_USDTlong	+0.0100%	8h	1.0627	long leg	$958K	$1.0M	50x
MEXC AXS_USDTshort	+0.0100%	4h	1.0630	+0.028%	$11.1M	$763K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0640	+0.122%	$574K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0630	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0635	+0.075%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0617	−0.098%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0611	−0.147%	$757K	$914K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0636	+0.085%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0631	+0.038%	$705	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0633	+0.060%	$7K	$156K	10x	as long as short