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: Bybit against MEXC+0.058%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1051.052% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.376%+$38 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.058%, 7d avg +0.089%

Together, before fees+0.428%+$43 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: Bybit is 0.032% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXL_USDT	0.05202	0.0100	pay 0.0050% / 4h	16m 50s	$319K	$149K	50x
Short	Bybit AXLUSDT	0.05205	0.0100	get 0.0050% / 4h	16m 50s	$1.5M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → +0.089%: −$3.18
Slippage, 4 orders: −$90.25
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$108.43
Costs to cover: 1.052%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Bybit: live order book, 4 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 MEXC live order book, 3 min ago	1.93 bp	11.5 bp −$11	56.5 bp −$565	101.7 bp −$10.2K	doesn't fit
Sell Bybit live order book, 4 min ago	4.82 bp	38.1 bp −$38	193.4 bp −$1,934	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	+0.0056%	4h	0.05205	+0.058%	$116K	$10K	50x	as long as short
BingX AXL-USDT	+0.0070%	4h	0.05205	+0.058%	—	$2.3M	—	as long as short
Aster AXLUSDT	+0.0100%	4h	0.05202	−0.007%	$34K	$6K	5x	as long as short
Binance AXLUSDT	+0.0100%	4h	0.05203	+0.021%	$1.8M	$2.9M	50x	as long as short
Bybit AXLUSDTshort	+0.0100%	4h	0.05205	+0.058%	$1.5M	$1.2M	25x
MEXC AXL_USDTlong	+0.0100%	4h	0.05202	long leg	$319K	$149K	50x
KuCoin AXLUSDTM	+0.0100%	4h	0.05208	+0.115%	$437K	$71K	30x	as long as short
Bitget AXLUSDT	+0.0100%	4h	0.05202	0.000%	$560K	$286K	50x	as long as short
Variational Omni AXL	+0.0100%	4h	0.05179	−0.450%	$6K	$23K	—	as long as short