Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h +0.020%

Price spread now: Gate against Orderly−0.018%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AXS_USDC	1.0820	0.0078	pay 0.0039% / 4h	29m 49s	$3K	—	10x
Short	Gate AXS_USDT	1.0818	0.0100	get 0.0100% / 8h	29m 49s	$974K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Orderly. 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 OrderlybpFee GatebpOrdersPrice spread, now −0.018%Rate

Funding earned: $4.52
Price spread: −0.018% → 0.000%: −$1.85
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$18.33
Costs to cover: 0.210%
Break-even: 35.4 days

Slippage unknown: Orderly: no order-book sample; Gate: live order book, 2 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	4.16 bp	79.4 bp −$79	287.8 bp −$2,878	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.0818	−0.018%	$141K	$312K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.924%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0063%	4h	1.0808	−0.111%	$274K	$17K	75x	as long as short
Orderly PERP_AXS_USDClong	+0.0078%	4h	1.0820	long leg	$3K	—	10x
Lighter AXS	+0.0096%	1h	1.0834	+0.129%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0816	−0.037%	$266K	$300K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0813	−0.069%	$75K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0809	−0.102%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0823	+0.028%	$3.7M	$4.0M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0816	−0.037%	$1.4M	$2.9M	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDTshort	+0.0100%	8h	1.0818	−0.018%	$974K	$1.0M	50x
MEXC AXS_USDT	+0.0100%	4h	1.0806	−0.129%	$11.5M	$749K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0800	−0.185%	$612K	$306K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0810	−0.092%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0817	−0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0821	+0.012%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0814	−0.052%	$773K	$892K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0813	−0.065%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0807	−0.120%	$707	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0805	−0.140%	$7K	$156K	10x	as long as short