Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Bitget against GRVT+0.093%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1081.081% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−1.087%−$109 · spread now +0.093%, 7d avg +0.012%

Together, before fees−1.061%+ Points / potential airdropGRVT: Active · farm board−$106 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: Bitget is 0.082% dearer against GRVT than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT AXS_USDT_Perp	1.0710	0.0100	pay 0.0050% / 4h	2h 31m	$762K	$919K	10x
Short	Bitget AXSUSDT	1.0720	0.0100	get 0.0050% / 4h	2h 31m	$3.1M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GRVT. 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 GRVTbpFee BitgetbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → +0.012%: $8.16
Slippage, 4 orders: −$87.12
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.95
Costs to cover: 1.081%
Break-even: never at this rate

Slippage from GRVT: live order book, 36 min ago; Bitget: 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 GRVT live order book, 36 min ago	9.24 bp	26.1 bp −$26	87.9 bp −$879	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	4.65 bp	30.9 bp −$31	80.5 bp −$805	doesn't fit	doesn't fit

AXS on 19 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	+0.093%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0740	+0.280%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0754	+0.411%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0732	+0.201%	$259K	$314K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0743	+0.313%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0727	+0.158%	$6.0M	$10.1M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0735	+0.233%	$3.8M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0727	+0.159%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0732	+0.205%	$856K	$993K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0726	+0.149%	$11.4M	$726K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0730	+0.187%	$602K	$303K	50x	as long as short
Bitget AXSUSDTshort	+0.0100%	4h	1.0720	+0.093%	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0738	+0.261%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0721	+0.106%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perplong	+0.0100%	4h	1.0710	long leg	$762K	$919K	10x
SunX AXS-USDT	+0.0100%	4h	1.0738	+0.261%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0735	+0.233%	$717	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0731	+0.200%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0356%	1h	1.0744	+0.317%	$146K	$333K	20x	as long as short