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: Gate against OKX−0.046%7-day average +0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$211as in the Funding arb table

Net, price: spread back to 7d avg − costs−$237as in the Price arb table

costs, in and out, $10k−$2272.271% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.046%, 7d avg +0.052%

Together, before fees+0.338%+$34 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: Gate is 0.099% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0832	0.0100	pay 0.0050% / 4h	57m 02s	$1.4M	$2.9M	20x
Short	Gate AXS_USDT	1.0827	0.0100	get 0.0100% / 8h	57m 02s	$975K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.052%: −$9.85
Slippage, 4 orders: −$202.11
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$236.96
Costs to cover: 2.271%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Gate: 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 OKX live order book, 5 min ago	1.86 bp	22.0 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	10.69 bp	100.7 bp −$101	263.5 bp −$2,635	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	1.0828	−0.040%	$142K	$310K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−1.034%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0073%	4h	1.0820	−0.111%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0080%	4h	1.0818	−0.129%	$276K	$17K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0844	+0.111%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0828	−0.037%	$266K	$297K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0824	−0.072%	$75K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0835	+0.026%	$6.1M	$9.5M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0848	+0.148%	$3.7M	$4.0M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0832	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_USDTshort	+0.0100%	8h	1.0827	−0.046%	$975K	$1.0M	50x
MEXC AXS_USDT	+0.0100%	4h	1.0817	−0.138%	$11.5M	$741K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0820	−0.111%	$614K	$306K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0820	−0.111%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0839	+0.065%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0769	−0.581%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0760	−0.661%	$765K	$866K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0828	−0.037%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0818	−0.129%	$702	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0819	−0.122%	$7K	$156K	10x	as long as short