Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC−0.015%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.019%+$2 · spread now −0.015%, 7d avg +0.011%

Together, before fees+0.019%+$2 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: Binance is 0.026% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0714	0.0100	pay 0.0050% / 4h	40m 58s	$11.6M	$693K	50x
Short	Binance AXSUSDT	1.0712	0.0100	get 0.0050% / 4h	40m 58s	$6.0M	$10.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → +0.011%: −$2.58
Slippage, 4 orders: −$25.53
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$42.11
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Binance: live order book, 14 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 MEXC live order book, 2 min ago	0.93 bp	4.5 bp −$4	32.1 bp −$321	54.9 bp −$5,487	98.9 bp −$49.5K
Sell Binance live order book, 14 min ago	1.40 bp	18.2 bp −$18	48.3 bp −$483	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
Injective AXS/USDC PERP	+0.0033%	1h	1.0580	−1.251%	$1K	$48K	5.5x	as long as short
Lighter AXS	+0.0096%	1h	1.0738	+0.224%	$37K	$43K	5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0710	−0.037%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0717	+0.028%	$258K	$705K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0719	+0.048%	$73K	$17K	10x	as long as short
Binance AXSUSDTshort	+0.0100%	4h	1.0712	−0.015%	$6.0M	$10.9M	75x
Bybit AXSUSDT	+0.0100%	8h	1.0720	+0.056%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0709	−0.047%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0722	+0.075%	$848K	$535K	50x	as long as short
MEXC AXS_USDTlong	+0.0100%	4h	1.0714	long leg	$11.6M	$693K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0720	+0.056%	$588K	$289K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0720	+0.056%	$3.1M	$1.2M	50x	as long as short
Variational Omni AXS	+0.0100%	8h	1.0718	+0.036%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0710	−0.039%	$763K	$886K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0717	+0.028%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0715	+0.009%	$763	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0711	−0.025%	$9K	$249K	10x	as long as short
BingX AXS-USDT	+0.0120%	4h	1.0713	−0.009%	—	$2.6M	—	as long as short
BloFin AXS-USDT	+0.0143%	4h	1.0712	−0.019%	$279K	$30K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0645%	1h	1.0726	+0.111%	$145K	$350K	20x	as long as short