Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Bybit against BingX+0.093%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$890.885% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days−0.088%−$9 · spread now +0.093%, 7d avg +0.013%

Together, before fees−0.167%−$17 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% dearer against BingX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0717	0.0100	pay 0.0050% / 4h	2h 04m	—	$2.6M	—
Short	Bybit AXSUSDT	1.0727	0.0100	get 0.0100% / 8h	6h 04m	$3.8M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → +0.013%: $8.06
Slippage, 4 orders: −$67.53
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$80.47
Costs to cover: 0.885%
Break-even: never at this rate

Slippage from BingX: live order book, 1 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 BingX live order book, 1 min ago	4.66 bp	18.0 bp −$18	41.7 bp −$417	347.1 bp −$34.7K	449.3 bp −$224.6K
Sell Bybit live order book, 4 min ago	2.34 bp	24.3 bp −$24	97.7 bp −$977	doesn't fit	doesn't fit

AXS on 19 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	1.0720	+0.028%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0084%	4h	1.0720	+0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0741	+0.224%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0724	+0.065%	$259K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0722	+0.048%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0717	+0.004%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0727	+0.093%	$3.8M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0714	−0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0709	−0.075%	$853K	$997K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0717	0.000%	$11.4M	$732K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0710	−0.065%	$600K	$303K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0720	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0717	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0694	−0.213%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0671	−0.426%	$762K	$906K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0721	+0.037%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0713	−0.037%	$731	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0713	−0.033%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0357%	1h	1.0724	+0.063%	$145K	$335K	20x	as long as short