Funding arb · Price arb /

AXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Binance−0.038%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1251.250% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.546%+$55 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.038%, 7d avg −0.003%

Together, before fees+0.676%+$68 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: Bitget is 0.035% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AXLUSDT	0.05210	0.0100	pay 0.0050% / 4h	2h 12m	$1.8M	$3.3M	50x
Short	Bitget AXLUSDT	0.05208	0.0100	get 0.0050% / 4h	2h 12m	$567K	$296K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.003%: −$3.52
Slippage, 4 orders: −$102.96
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$128.47
Costs to cover: 1.250%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Bitget: live order book, 32 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 Binance live order book, 8 min ago	1.93 bp	24.0 bp −$24	124.3 bp −$1,243	doesn't fit	doesn't fit
Sell Bitget live order book, 32 min ago	3.83 bp	34.9 bp −$35	212.3 bp −$2,123	doesn't fit	doesn't fit

AXL on 9 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
BloFin AXL-USDT	+0.0067%	4h	0.05196	−0.269%	$117K	$10K	50x	as long as short
BingX AXL-USDT	+0.0070%	4h	0.05207	−0.058%	—	$2.3M	—	as long as short
Aster AXLUSDT	+0.0100%	4h	0.05197	−0.248%	$34K	$7K	5x	as long as short
Binance AXLUSDTlong	+0.0100%	4h	0.05210	long leg	$1.8M	$3.3M	50x
Bybit AXLUSDT	+0.0100%	4h	0.05212	+0.038%	$1.5M	$1.4M	25x	as long as short
MEXC AXL_USDT	+0.0100%	4h	0.05213	+0.058%	$323K	$164K	50x	as long as short
KuCoin AXLUSDTM	+0.0100%	4h	0.05202	−0.154%	$436K	$82K	30x	as long as short
Bitget AXLUSDTshort	+0.0100%	4h	0.05208	−0.038%	$567K	$296K	50x
Variational Omni AXL	+0.0100%	4h	0.05186	−0.467%	$6K	$23K	—	as long as short