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: OKX against Gate+0.056%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1931.928% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.056%, 7d avg −0.052%

Together, before fees−0.333%−$33 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: OKX is 0.107% dearer against Gate than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0787	0.0100	pay 0.0100% / 8h	5m 15s	$971K	$1.0M	50x
Short	OKX AXS-USDT-SWAP	1.0793	0.0100	get 0.0050% / 4h	5m 15s	$1.4M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → −0.052%: $10.75
Slippage, 4 orders: −$167.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$182.03
Costs to cover: 1.928%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	6.49 bp	78.8 bp −$79	269.7 bp −$2,697	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.93 bp	15.2 bp −$15	doesn't fit	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
Kraken Futures PF_AXSUSD	−0.0239%	1h	1.0811	+0.218%	$141K	$315K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.621%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0068%	4h	1.0785	−0.019%	$274K	$17K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0800	+0.121%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0822	+0.324%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0788	+0.009%	$266K	$297K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0783	−0.039%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0787	−0.004%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0794	+0.065%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0793	+0.056%	$1.4M	$2.9M	20x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDTlong	+0.0100%	8h	1.0787	long leg	$971K	$1.0M	50x
MEXC AXS_USDT	+0.0100%	4h	1.0778	−0.083%	$11.4M	$752K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0780	−0.065%	$611K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0800	+0.121%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0788	+0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0786	−0.009%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0780	−0.065%	$770K	$893K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0789	+0.019%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0795	+0.074%	$719	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0784	−0.024%	$7K	$156K	10x	as long as short