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 0.000%

Price spread now: KuCoin against OKX+0.122%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1811.808% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 4 days (all we have)−0.070%−$7 · spread now +0.122%, 7d avg +0.013%

Together, before fees+0.087%+$9 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: KuCoin is 0.109% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0697	0.0100	pay 0.0050% / 4h	1h 04m	$1.4M	$3.0M	20x
Short	KuCoin AXSUSDTM	1.0710	0.0100	get 0.0050% / 4h	1h 04m	$587K	$288K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.122%Rate

Funding earned: $0
Price spread: +0.122% → +0.013%: $10.88
Slippage, 4 orders: −$158.8
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$169.92
Costs to cover: 1.808%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; KuCoin: live order book, 40 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	1.86 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 40 min ago	9.35 bp	62.9 bp −$63	275.7 bp −$2,757	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	−0.1014%	1h	1.0580	−1.094%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0710	+0.122%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0699	+0.019%	$259K	$703K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0709	+0.110%	$73K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0701	+0.037%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0708	+0.103%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0697	long leg	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0704	+0.065%	$847K	$631K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0699	+0.019%	$11.5M	$696K	50x	as long as short
KuCoin AXSUSDTMshort	+0.0100%	4h	1.0710	+0.122%	$587K	$288K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AXSUSDT	+0.0100%	4h	1.0700	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0697	0.000%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0727	+0.282%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0730	+0.308%	$769K	$875K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0716	+0.178%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0700	+0.028%	$763	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0698	+0.008%	$10K	$232K	10x	as long as short
BloFin AXS-USDT	+0.0121%	4h	1.0700	+0.028%	$279K	$30K	75x	as long as short
Lighter AXS	+0.0192%	1h	1.0732	+0.327%	$37K	$43K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0379%	1h	1.0712	+0.139%	$145K	$345K	20x	as long as short