Settings8H · net · $10k
Funding arb · Price arb /

AXS

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h 0.000%
Price spread now: SoDEX against Lighter−0.204%7-day average · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)no history yet
Price spread, last 7 daysno price history on both exchanges yet
Together, before fees+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.204% cheaper against Lighter than usual: you would sell low and buy high, −$20 on $10k if it goes back to zero (this spread has no 7-day history yet).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter AXS1.07600.0096pay 0.0012% / 1h0m 50s$37K$42K5x
ShortSoDEX AXS-USD1.07380.0100get 0.0013% / 1h0m 50s$789$3K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX against Lighter. 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

Funding earned
$0.84
Price spread: −0.204% → 0.000%
−$20.45
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee SoDEX: 4 bp × 2 orders
−$8
Net
−$27.61
Costs to cover
0.080%
Break-even
237.1 days
Slippage unknown: Lighter: no order-book sample; SoDEX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter no order-book sample
Sell SoDEX no order-book sample
Lighter and SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AXS on 20 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective AXS/USDC PERP+0.0033%1h1.0580−1.673%$1K$48K5.5xas long as short
Orderly PERP_AXS_USDC+0.0094%4h1.0740−0.186%$3K10xas long as short
Lighter AXSlong+0.0096%1h1.0760long leg$37K$42K5x
Hyperliquid AXS+0.0100%1h1.0738−0.204%$256K$702K5xas long as short
Aster AXSUSDT+0.0100%4h1.0739−0.195%$73K$15K10xas long as short
Binance AXSUSDT+0.0100%4h1.0735−0.229%$6.0M$10.6M75xas long as short
Bybit AXSUSDT+0.0100%8h1.0737−0.214%$3.7M$4.2M75xas long as short
OKX AXS-USDT-SWAP+0.0100%4h1.0736−0.223%$1.5M$3.0M20xas long as short
Gate AXS_USDT+0.0100%8h1.0738−0.204%$848K$525K50xas long as short
MEXC AXS_USDT+0.0100%4h1.0732−0.260%$11.6M$717K50xas long as short
Show all 20 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin AXSUSDTM+0.0100%4h1.0740−0.186%$592K$268K50xas long as short
Bitget AXSUSDT+0.0100%4h1.0730−0.279%$3.1M$1.2M50xas long as short
BingX AXS-USDT+0.0100%4h1.0736−0.223%$2.6Mas long as short
Variational Omni AXS+0.0100%8h1.0736−0.228%$37K$840as long as short
GRVT AXS_USDT_Perp+0.0100%4h1.0734−0.244%$769K$857K10xas long as short
SunX AXS-USDT+0.0100%4h1.0735−0.232%$2K$1.4M20xas long as short
SoDEX AXS-USDshort+0.0100%1h1.0738−0.204%$789$3K5x
Extended AXS-USD+0.0104%1h1.0731−0.273%$7K$249K10xas long as short
BloFin AXS-USDT+0.0106%4h1.0736−0.223%$281K$29K75xas long as short
Kraken Futures PF_AXSUSD+0.0462%1h1.0751−0.086%$146K$332K20xas long as short