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 0.000%

Price spread now: OKX against Bybit−0.140%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$870.874% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days+0.141%+$14 · spread now −0.140%, 7d avg −0.022%

Together, before fees+0.028%+$3 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 0.118% cheaper against Bybit than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0739	0.0100	pay 0.0100% / 8h	7h 01m	$3.7M	$4.1M	75x
Short	OKX AXS-USDT-SWAP	1.0724	0.0100	get 0.0050% / 4h	3h 01m	$1.4M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.022%: −$11.8
Slippage, 4 orders: −$66.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$99.2
Costs to cover: 0.874%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; OKX: live order book, 6 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 Bybit live order book, 1 min ago	1.86 bp	22.8 bp −$23	86.6 bp −$866	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	1.39 bp	18.2 bp −$18	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
Kraken Futures PF_AXSUSD	−0.0261%	1h	1.0748	+0.084%	$147K	$331K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.177%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0064%	4h	1.0740	+0.009%	$277K	$17K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0740	+0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0749	+0.093%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0731	−0.074%	$264K	$310K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0746	+0.070%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0723	−0.146%	$6.0M	$9.9M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0739	long leg	$3.7M	$4.1M	75x
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0724	−0.140%	$1.4M	$2.9M	20x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDT	+0.0100%	8h	1.0730	−0.084%	$857K	$1.1M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0723	−0.149%	$11.4M	$745K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0740	+0.009%	$607K	$313K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0730	−0.084%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0731	−0.074%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0811	+0.670%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0810	+0.662%	$771K	$902K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0728	−0.102%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0730	−0.084%	$715	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0722	−0.158%	$7K	$241K	10x	as long as short