Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against SunX+0.233%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.233% dearer against SunX than usual: you sell high and buy low, +$23 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AXS-USDT	1.0742	0.0100	pay 0.0050% / 4h	2h 27m	$2K	$1.3M	20x
Short	Lighter AXS	1.0767	0.0096	get 0.0012% / 1h	27m 05s	$33K	$41K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.233%Rate

Funding earned: −$0.84
Price spread: +0.233% → 0.000%: $23.27
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $14.43
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 7 min ago; Lighter: no order-book sample. 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 SunX live order book, 7 min ago	500.77 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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 19 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	−0.205%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0740	−0.019%	$3K	—	10x	as long as short
Lighter AXSshort	+0.0096%	1h	1.0767	+0.233%	$33K	$41K	5x
Hyperliquid AXS	+0.0100%	1h	1.0748	+0.056%	$260K	$314K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0751	+0.083%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0743	+0.013%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0750	+0.074%	$3.8M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0744	+0.019%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0744	+0.019%	$856K	$994K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0741	−0.009%	$11.4M	$726K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0750	+0.074%	$603K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0750	+0.074%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0748	+0.056%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0732	−0.095%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0720	−0.205%	$763K	$912K	10x	as long as short
SunX AXS-USDTlong	+0.0100%	4h	1.0742	long leg	$2K	$1.3M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0743	+0.009%	$715	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0740	−0.016%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0356%	1h	1.0754	+0.115%	$145K	$333K	20x	as long as short