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% APRpaid last 24h 0.000%

Price spread now: Bybit against OKX+0.074%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$870.873% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.074%, 7d avg +0.023%

Together, before fees+0.053%+$5 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 0.051% dearer against OKX than usual: you sell high and buy low, +$5 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	OKX AXS-USDT-SWAP	1.0752	0.0100	pay 0.0050% / 4h	1m 58s	$1.4M	$2.9M	20x
Short	Bybit AXSUSDT	1.0760	0.0100	get 0.0100% / 8h	4h 01m	$3.7M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.023%: $5.12
Slippage, 4 orders: −$66.26
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$82.15
Costs to cover: 0.873%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bybit: live order book, 1 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, 5 min ago	1.40 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.86 bp	25.5 bp −$25	99.0 bp −$990	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	1.0720	−0.298%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0750	−0.019%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0780	+0.260%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0758	+0.056%	$260K	$310K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0754	+0.017%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0755	+0.028%	$6.1M	$10.4M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0760	+0.074%	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0752	long leg	$1.4M	$2.9M	20x
Gate AXS_USDT	+0.0100%	8h	1.0748	−0.037%	$855K	$903K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0751	−0.009%	$11.5M	$686K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0750	−0.019%	$602K	$298K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0750	−0.019%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0752	0.000%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0745	−0.064%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0748	−0.033%	$768K	$901K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0753	+0.009%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0755	+0.028%	$764	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0752	−0.001%	$10K	$242K	10x	as long as short
BloFin AXS-USDT	+0.0132%	4h	1.0755	+0.028%	$277K	$25K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0436%	1h	1.0771	+0.174%	$140K	$341K	20x	as long as short