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 +0.005%

Price spread now: BingX against OKX−0.019%7-day average +0.009% · 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−$79as in the Price arb table

costs, in and out, $10k−$760.762% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.192%+$19 on $10k

Price spread, last 7 days+0.042%+$4 · spread now −0.019%, 7d avg +0.009%

Together, before fees+0.234%+$23 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 0.028% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0667	0.0100	pay 0.0050% / 4h	2h 20m	$1.4M	$3.0M	20x
Short	BingX AXS-USDT	1.0665	0.0100	get 0.0050% / 4h	2h 20m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.009%: −$2.78
Slippage, 4 orders: −$56.21
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$79
Costs to cover: 0.762%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; BingX: 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 OKX live order book, 2 min ago	1.88 bp	18.4 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	4.71 bp	21.8 bp −$22	43.0 bp −$430	291.3 bp −$29.1K	412.0 bp −$206.0K

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	−0.816%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0094%	4h	1.0631	−0.337%	$278K	$30K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0686	+0.178%	$36K	$39K	5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0640	−0.253%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0662	−0.047%	$421K	$499K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0667	−0.001%	$72K	$15K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0669	+0.019%	$6.0M	$10.7M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0672	+0.047%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0667	long leg	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0651	−0.150%	$843K	$829K	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_USDT	+0.0100%	4h	1.0663	−0.037%	$11.4M	$673K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0650	−0.159%	$583K	$288K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0670	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0665	−0.019%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0638	−0.275%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0590	−0.722%	$760K	$896K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0650	−0.159%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0635	−0.300%	$751	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0664	−0.028%	$10K	$228K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0416%	1h	1.0642	−0.239%	$141K	$351K	20x	as long as short