Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against OKX−0.037%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 7 days+0.030%+$3 · spread now −0.037%, 7d avg −0.014%

Together, before fees+0.151%+$15 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: MEXC is 0.023% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0683	0.0100	pay 0.0050% / 4h	3h 51m	$1.4M	$3.0M	20x
Short	MEXC AXS_USDT	1.0679	0.0100	get 0.0050% / 4h	3h 51m	$11.6M	$703K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → −0.014%: −$2.34
Slippage, 4 orders: −$32.02
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$48.36
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; MEXC: live order book, 2 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, 6 min ago	1.40 bp	19.0 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.47 bp	5.4 bp −$5	37.2 bp −$372	58.3 bp −$5,826	109.5 bp −$54.7K

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	−0.964%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0065%	4h	1.0670	−0.122%	$283K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0660	−0.215%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0696	+0.122%	$36K	$42K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0687	+0.037%	$256K	$705K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0672	−0.101%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0674	−0.089%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0678	−0.047%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0683	long leg	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0669	−0.131%	$843K	$524K	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_USDTshort	+0.0100%	4h	1.0679	−0.037%	$11.6M	$703K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0670	−0.122%	$589K	$278K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0670	−0.122%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0670	−0.122%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0671	−0.115%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0660	−0.216%	$763K	$873K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0667	−0.150%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0662	−0.197%	$774	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0665	−0.165%	$7K	$250K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0466%	1h	1.0671	−0.110%	$146K	$348K	20x	as long as short