Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against MEXC−0.037%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.037%, 7d avg +0.014%

Together, before fees−0.080%−$8 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: OKX is 0.051% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0685	0.0100	pay 0.0050% / 4h	3h 45m	$11.6M	$704K	50x
Short	OKX AXS-USDT-SWAP	1.0681	0.0100	get 0.0050% / 4h	3h 45m	$1.4M	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → +0.014%: −$5.15
Slippage, 4 orders: −$31.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$50.25
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; OKX: live order book, 2 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, 3 min ago	0.47 bp	4.0 bp −$4	20.5 bp −$205	53.8 bp −$5,376	101.0 bp −$50.5K
Sell OKX live order book, 2 min ago	1.40 bp	17.9 bp −$18	doesn't fit	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	−0.983%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0690	+0.047%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0707	+0.206%	$36K	$42K	5x	as long as short
BloFin AXS-USDT	+0.0097%	4h	1.0690	+0.047%	$280K	$29K	75x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0686	+0.009%	$256K	$706K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0689	+0.035%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0685	−0.004%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0689	+0.037%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0681	−0.037%	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0683	−0.019%	$844K	$524K	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	1.0685	long leg	$11.6M	$704K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0680	−0.047%	$589K	$278K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0680	−0.047%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0686	+0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0684	−0.007%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0678	−0.069%	$765K	$865K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0686	+0.009%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0684	−0.009%	$783	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0683	−0.019%	$7K	$246K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0465%	1h	1.0697	+0.110%	$146K	$346K	20x	as long as short