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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against OKX+0.028%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$810.810% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$17 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.028%, 7d avg −0.006%

Together, before fees+0.124%+$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: Bitget is 0.034% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0817	0.0100	pay 0.0050% / 4h	28m 58s	$1.4M	$2.9M	20x
Short	Bitget AXSUSDT	1.0820	0.0100	get 0.0050% / 4h	28m 58s	$3.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.006%: $3.37
Slippage, 4 orders: −$59
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$77.64
Costs to cover: 0.810%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bitget: live order book, 4 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, 3 min ago	2.78 bp	21.6 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	4.62 bp	21.8 bp −$22	54.4 bp −$544	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	1.0820	+0.025%	$141K	$312K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.897%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0810	−0.065%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0082%	4h	1.0803	−0.129%	$274K	$17K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0835	+0.166%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0817	0.000%	$266K	$300K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0813	−0.041%	$75K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0815	−0.016%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0830	+0.120%	$3.7M	$4.0M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0817	long leg	$1.4M	$2.9M	20x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDT	+0.0100%	8h	1.0818	+0.009%	$974K	$1.0M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0813	−0.037%	$11.5M	$749K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0810	−0.065%	$613K	$306K	50x	as long as short
Bitget AXSUSDTshort	+0.0100%	4h	1.0820	+0.028%	$3.2M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0817	0.000%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0821	+0.039%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0804	−0.116%	$772K	$892K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0815	−0.018%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0813	−0.037%	$710	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0813	−0.035%	$7K	$156K	10x	as long as short