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: Gate against KuCoin−0.066%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$316as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3163.163% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.165%+$17 · spread now −0.066%, 7d avg +0.035%

Together, before fees+0.165%+$17 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: Gate is 0.101% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AXSUSDTM	1.0650	0.0100	pay 0.0050% / 4h	1h 33m	$582K	$295K	50x
Short	Gate AXS_USDT	1.0643	0.0100	get 0.0100% / 8h	1h 33m	$958K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → +0.035%: −$10.12
Slippage, 4 orders: −$289.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$326.47
Costs to cover: 3.163%
Break-even: never at this rate

Slippage from KuCoin: live order book, 40 min ago; Gate: 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 KuCoin live order book, 40 min ago	9.42 bp	73.4 bp −$73	369.8 bp −$3,698	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	4.69 bp	76.1 bp −$76	267.2 bp −$2,672	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	−0.0476%	1h	1.0648	−0.019%	$139K	$305K	20x	as long as short
OKX AXS-USDT-SWAP	+0.0030%	4h	1.0636	−0.131%	$1.4M	$2.7M	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.657%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0069%	4h	1.0640	−0.094%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0660	+0.094%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0641	−0.085%	$261K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0646	−0.036%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0639	−0.099%	$5.9M	$9.2M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0638	−0.113%	$3.2M	$3.6M	75x	as long as short
Gate AXS_USDTshort	+0.0100%	8h	1.0643	−0.066%	$958K	$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	1.0639	−0.103%	$11.1M	$725K	50x	as long as short
KuCoin AXSUSDTMlong	+0.0100%	4h	1.0650	long leg	$582K	$295K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0640	−0.094%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0638	−0.113%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0637	−0.119%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0639	−0.107%	$759K	$870K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0639	−0.103%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0638	−0.113%	$681	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0640	−0.093%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0124%	4h	1.0638	−0.113%	$271K	$17K	75x	as long as short