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: Bybit against MEXC+0.148%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days−0.158%−$16 · spread now +0.148%, 7d avg +0.033%

Together, before fees−0.190%−$19 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: Bybit is 0.114% dearer against MEXC than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0829	0.0100	pay 0.0050% / 4h	52m 39s	$11.5M	$744K	50x
Short	Bybit AXSUSDT	1.0845	0.0100	get 0.0100% / 8h	52m 39s	$3.7M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.148%Rate

Funding earned: $0
Price spread: +0.148% → +0.033%: $11.43
Slippage, 4 orders: −$50.79
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$54.36
Costs to cover: 0.658%
Break-even: never at this rate

Slippage from MEXC: live order book, 11 min ago; Bybit: live order book, 5 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, 11 min ago	0.93 bp	4.7 bp −$5	33.6 bp −$336	59.8 bp −$5,979	103.9 bp −$52.0K
Sell Bybit live order book, 5 min ago	0.46 bp	28.8 bp −$29	86.4 bp −$864	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	−0.0238%	1h	1.0852	+0.208%	$142K	$310K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−1.007%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0076%	4h	1.0840	+0.102%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0854	+0.231%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0839	+0.092%	$266K	$297K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0850	+0.197%	$75K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0832	+0.029%	$6.1M	$9.5M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0845	+0.148%	$3.7M	$4.0M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0828	−0.009%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0854	+0.231%	$977K	$1.0M	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	1.0829	long leg	$11.5M	$744K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0840	+0.102%	$615K	$306K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0840	+0.102%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0848	+0.175%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0849	+0.180%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0856	+0.253%	$771K	$867K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0847	+0.166%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0843	+0.129%	$708	$3K	5x	as long as short
BloFin AXS-USDT	+0.0102%	4h	1.0835	+0.055%	$276K	$17K	75x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0843	+0.127%	$7K	$156K	10x	as long as short