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% APRpaid last 24h −0.020%

Price spread now: GRVT against Variational Omni+0.170%74s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · GRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.170% dearer against Variational Omni than usual: you sell high and buy low, +$17 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni AXS	1.0602	0.0100	pay 0.0100% / 8h	2h 52m	$36K	$4K	—
Short	GRVT AXS_USDT_Perp	1.0620	0.0100	get 0.0050% / 4h	2h 52m	$752K	$927K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee GRVTbpOrdersPrice spread, now +0.170%Rate

Funding earned: $0
Price spread: +0.170% → 0.000%: $17.02
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $8.02
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; GRVT: live order book, 35 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 Variational Omni no order-book sample	—	—	—	—	—
Sell GRVT live order book, 35 min ago	9.39 bp	17.2 bp −$17	166.3 bp −$1,663	doesn't fit	doesn't fit

Variational Omni: 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	−0.0339%	1h	1.0613	+0.100%	$139K	$325K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+1.114%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0075%	4h	1.0610	+0.076%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0628	+0.246%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0610	+0.076%	$261K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0611	+0.088%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0608	+0.057%	$5.9M	$9.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0610	+0.076%	$3.2M	$3.6M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0608	+0.057%	$1.4M	$2.7M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0605	+0.029%	$956K	$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_USDT	+0.0100%	4h	1.0604	+0.019%	$11.1M	$760K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0610	+0.076%	$572K	$295K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0610	+0.076%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0604	+0.019%	—	$2.6M	—	as long as short
Variational Omni AXSlong	+0.0100%	8h	1.0602	long leg	$36K	$4K	—
GRVT AXS_USDT_Perpshort	+0.0100%	4h	1.0620	+0.170%	$752K	$927K	10x
SunX AXS-USDT	+0.0100%	4h	1.0611	+0.085%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0609	+0.067%	$718	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0607	+0.047%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0107%	4h	1.0618	+0.151%	$272K	$30K	75x	as long as short