Funding arb · Price arb /

AXS

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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: OKX against Binance+0.033%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$680.677% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.033%, 7d avg +0.003%

Together, before fees−0.161%−$16 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: OKX is 0.029% dearer against Binance than usual: you sell high and buy low, +$3 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 AXSUSDT	1.0712	0.0100	pay 0.0050% / 4h	1h 26m	$6.0M	$10.8M	75x
Short	OKX AXS-USDT-SWAP	1.0715	0.0100	get 0.0050% / 4h	1h 26m	$1.4M	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → +0.003%: $2.93
Slippage, 4 orders: −$47.69
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$64.76
Costs to cover: 0.677%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; OKX: live order book, 5 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, 13 min ago	0.94 bp	14.4 bp −$14	39.4 bp −$394	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.94 bp	16.8 bp −$17	doesn't fit	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	−0.1014%	1h	1.0580	−1.228%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0690	−0.201%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0728	+0.154%	$264K	$700K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0715	+0.030%	$73K	$18K	10x	as long as short
Binance AXSUSDTlong	+0.0100%	4h	1.0712	long leg	$6.0M	$10.8M	75x
Bybit AXSUSDT	+0.0100%	8h	1.0714	+0.023%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0715	+0.033%	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0703	−0.079%	$847K	$630K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0711	−0.005%	$11.5M	$687K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0700	−0.107%	$587K	$288K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AXSUSDT	+0.0100%	4h	1.0710	−0.014%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0707	−0.042%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0673	−0.363%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0664	−0.444%	$764K	$892K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0701	−0.098%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0703	−0.079%	$763	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0707	−0.040%	$7K	$228K	10x	as long as short
BloFin AXS-USDT	+0.0108%	4h	1.0702	−0.089%	$279K	$30K	75x	as long as short
Lighter AXS	+0.0248%	1h	1.0751	+0.369%	$37K	$39K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0379%	1h	1.0712	+0.003%	$141K	$344K	20x	as long as short