Funding arb · Price arb /

AXS

all AXS markets

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: BingX against Gate+0.019%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$2082.081% of the position

Long on Gate Short on BingX

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)−0.053%−$5 · spread now +0.019%, 7d avg −0.030%

Together, before fees−0.018%−$2 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: BingX is 0.049% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0709	0.0100	pay 0.0100% / 8h	6h 00m	$853K	$997K	50x
Short	BingX AXS-USDT	1.0711	0.0100	get 0.0050% / 4h	2h 00m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.030%: $4.87
Slippage, 4 orders: −$183.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$203.2
Costs to cover: 2.081%
Break-even: never at this rate

Slippage from Gate: live order book, 51 min ago; BingX: 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 Gate live order book, 51 min ago	9.83 bp	78.8 bp −$79	267.9 bp −$2,679	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.66 bp	19.4 bp −$19	45.9 bp −$459	305.1 bp −$30.5K	482.2 bp −$241.1K

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	+0.103%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0085%	4h	1.0710	+0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0734	+0.233%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0711	+0.019%	$258K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0712	+0.028%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0709	0.000%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0712	+0.028%	$3.8M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0707	−0.019%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTlong	+0.0100%	8h	1.0709	long leg	$853K	$997K	50x
MEXC AXS_USDT	+0.0100%	4h	1.0709	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	+0.009%	$600K	$302K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0710	+0.009%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0711	+0.019%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0715	+0.053%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0704	−0.049%	$764K	$906K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0708	−0.009%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0710	+0.009%	$733	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0706	−0.027%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0357%	1h	1.0725	+0.147%	$145K	$335K	20x	as long as short