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 +0.005%

Price spread now: BingX against MEXC+0.187%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days−0.167%−$17 · spread now +0.187%, 7d avg +0.023%

Together, before fees−0.117%−$12 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: BingX is 0.164% dearer against MEXC than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0693	0.0100	pay 0.0050% / 4h	1h 39m	$11.4M	$706K	50x
Short	BingX AXS-USDT	1.0713	0.0100	get 0.0050% / 4h	1h 39m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.187%Rate

Funding earned: $0
Price spread: +0.187% → +0.023%: $16.38
Slippage, 4 orders: −$37.19
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$34.81
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from MEXC: live order book, 9 min ago; BingX: live order book, 10 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, 9 min ago	0.47 bp	4.7 bp −$5	31.4 bp −$314	60.1 bp −$6,011	106.5 bp −$53.2K
Sell BingX live order book, 10 min ago	4.68 bp	23.1 bp −$23	47.5 bp −$475	318.7 bp −$31.9K	459.8 bp −$229.9K

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	1.0720	+0.253%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0051%	4h	1.0702	+0.084%	$275K	$23K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0087%	4h	1.0690	−0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0723	+0.281%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0702	+0.084%	$258K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0704	+0.106%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0694	+0.011%	$6.1M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0705	+0.112%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0689	−0.037%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0701	+0.075%	$852K	$953K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDTlong	+0.0100%	4h	1.0693	long leg	$11.4M	$706K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0700	+0.065%	$600K	$301K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0700	+0.065%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0713	+0.187%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0713	+0.191%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0720	+0.252%	$758K	$883K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0703	+0.094%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0693	0.000%	$732	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0697	+0.039%	$7K	$245K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0362%	1h	1.0697	+0.040%	$145K	$335K	20x	as long as short