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 −0.005%

Price spread now: OKX against BingX−0.131%7-day average −0.009% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 7 days+0.107%+$11 · spread now −0.131%, 7d avg −0.009%

Together, before fees−0.085%−$8 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 0.122% cheaper against BingX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0703	0.0100	pay 0.0050% / 4h	2h 49m	—	$2.6M	—
Short	OKX AXS-USDT-SWAP	1.0689	0.0100	get 0.0050% / 4h	2h 49m	$1.4M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → −0.009%: −$12.17
Slippage, 4 orders: −$56.76
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$88.93
Costs to cover: 0.768%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; OKX: 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 BingX live order book, 5 min ago	4.20 bp	18.3 bp −$18	39.7 bp −$397	346.5 bp −$34.7K	462.7 bp −$231.3K
Sell OKX live order book, 3 min ago	0.47 bp	19.1 bp −$19	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	+0.0033%	1h	1.0720	+0.159%	$5	$47K	5.5x	as long as short
Lighter AXS	+0.0096%	1h	1.0723	+0.187%	$36K	$39K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0702	−0.012%	$259K	$309K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0699	−0.038%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0698	−0.047%	$6.1M	$10.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0700	−0.028%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0689	−0.131%	$1.4M	$2.9M	20x
Gate AXS_USDT	+0.0100%	8h	1.0703	0.000%	$850K	$826K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0696	−0.065%	$11.5M	$663K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0690	−0.121%	$598K	$283K	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	1.0700	−0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0703	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0724	+0.193%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0720	+0.158%	$770K	$894K	10x	as long as short
Orderly PERP_AXS_USDC	+0.0100%	4h	1.0690	−0.121%	$3K	—	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0698	−0.047%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0696	−0.065%	$754	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0695	−0.073%	$7K	$223K	10x	as long as short
BloFin AXS-USDT	+0.0150%	4h	1.0692	−0.103%	$277K	$28K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0413%	1h	1.0710	+0.062%	$140K	$347K	20x	as long as short