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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against SunX−0.194%7-day average −0.027% · you buy dearer than you sell

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

Long on SunX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 3 days (all we have)+0.110%+$11 · spread now −0.194%, 7d avg −0.027%

Together, before fees+0.095%+$10 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 0.167% cheaper against SunX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AXS-USDT	1.0845	0.0100	pay 0.0050% / 4h	0m 01s	$1K	$1.3M	20x
Short	MEXC AXS_USDT	1.0824	0.0100	get 0.0050% / 4h	0m 01s	$11.5M	$753K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.194%Rate

Funding earned: $0
Price spread: −0.194% → −0.027%: −$16.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$28.68
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 4 min ago; MEXC: live order book, 3 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 SunX live order book, 4 min ago	500.79 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.92 bp	4.0 bp −$4	31.7 bp −$317	60.1 bp −$6,014	108.5 bp −$54.2K

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	1.0844	−0.008%	$142K	$315K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−1.153%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0850	+0.046%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0864	+0.175%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0842	−0.028%	$267K	$297K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0844	−0.014%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0833	−0.107%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0849	+0.037%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0837	−0.074%	$1.5M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0849	+0.037%	$977K	$1.0M	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	1.0824	−0.194%	$11.5M	$753K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0840	−0.046%	$615K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0840	−0.046%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0846	+0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0838	−0.069%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0775	−0.644%	$764K	$906K	10x	as long as short
SunX AXS-USDTlong	+0.0100%	4h	1.0845	long leg	$1K	$1.3M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0838	−0.065%	$726	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0839	−0.058%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0122%	4h	1.0831	−0.129%	$274K	$18K	75x	as long as short