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: Gate against BingX−0.037%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$217as in the Price arb table

costs, in and out, $10k−$2102.100% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.037%, 7d avg +0.028%

Together, before fees+0.092%+$9 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: Gate is 0.066% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0667	0.0100	pay 0.0050% / 4h	41m 01s	—	$2.6M	—
Short	Gate AXS_USDT	1.0663	0.0100	get 0.0100% / 8h	4h 41m	$849K	$898K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → +0.028%: −$6.59
Slippage, 4 orders: −$184.99
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$216.58
Costs to cover: 2.100%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Gate: live order book, 1 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, 9 min ago	4.23 bp	14.9 bp −$15	38.4 bp −$384	354.6 bp −$35.5K	513.0 bp −$256.5K
Sell Gate live order book, 1 min ago	1.41 bp	84.1 bp −$84	374.1 bp −$3,741	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	1.0720	+0.497%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0080%	4h	1.0661	−0.056%	$275K	$24K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0670	+0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0701	+0.319%	$32K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0687	+0.187%	$257K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0662	−0.049%	$72K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0683	+0.150%	$6.1M	$10.2M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0687	+0.187%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0687	+0.187%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTshort	+0.0100%	8h	1.0663	−0.037%	$849K	$898K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0673	+0.056%	$11.4M	$668K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0660	−0.066%	$598K	$300K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0680	+0.122%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0667	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0669	+0.019%	$36K	$2K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0652	−0.144%	$759K	$887K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0665	−0.019%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0672	+0.047%	$746	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0680	+0.121%	$7K	$243K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0440%	1h	1.0682	+0.140%	$139K	$348K	20x	as long as short