Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Binance−0.054%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$850.851% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 7 days+0.050%+$5 · spread now −0.054%, 7d avg +0.027%

Together, before fees+0.022%+$2 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 0.081% cheaper against Binance than usual: you would sell low and buy high, −$8 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	Binance AXSUSDT	1.0638	0.0100	pay 0.0050% / 4h	2h 54m	$5.9M	$10.5M	75x
Short	Bybit AXSUSDT	1.0632	0.0100	get 0.0100% / 8h	6h 54m	$3.6M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → +0.027%: −$8.07
Slippage, 4 orders: −$64.15
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.22
Costs to cover: 0.851%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Bybit: live order book, 3 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, 15 min ago	1.40 bp	16.8 bp −$17	44.2 bp −$442	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.87 bp	26.3 bp −$26	92.9 bp −$929	doesn't fit	doesn't fit

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
Injective AXS/USDC PERP	+0.0033%	1h	1.0580	−0.543%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0053%	4h	1.0702	+0.604%	$283K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0650	+0.115%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0649	+0.106%	$36K	$42K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0641	+0.031%	$255K	$699K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0636	−0.018%	$72K	$15K	10x	as long as short
Binance AXSUSDTlong	+0.0100%	4h	1.0638	long leg	$5.9M	$10.5M	75x
Bybit AXSUSDTshort	+0.0100%	8h	1.0632	−0.054%	$3.6M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0636	−0.016%	$1.5M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0633	−0.044%	$840K	$389K	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	1.0633	−0.044%	$11.5M	$635K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0640	+0.021%	$588K	$265K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0630	−0.073%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0628	−0.091%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0713	+0.711%	$36K	$783	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0710	+0.679%	$766K	$858K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0647	+0.087%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0651	+0.125%	$784	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0623	−0.137%	$7K	$249K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0623%	1h	1.0668	+0.288%	$146K	$341K	20x	as long as short