Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Gate−0.196%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1631.630% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.196%, 7d avg −0.056%

Together, before fees+0.088%+$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: MEXC is 0.140% cheaper against Gate than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0731	0.0100	pay 0.0100% / 8h	1h 05m	$966K	$1.0M	50x
Short	MEXC AXS_USDT	1.0710	0.0100	get 0.0050% / 4h	1h 05m	$11.2M	$735K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.196%Rate

Funding earned: $0
Price spread: −0.196% → −0.056%: −$13.97
Slippage, 4 orders: −$143.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$176.94
Costs to cover: 1.630%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; MEXC: live order book, 8 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, 2 min ago	8.91 bp	80.2 bp −$80	259.4 bp −$2,594	doesn't fit	doesn't fit
Sell MEXC live order book, 8 min ago	0.47 bp	3.9 bp −$4	29.0 bp −$290	59.3 bp −$5,931	109.3 bp −$54.7K

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	−0.0470%	1h	1.0781	+0.462%	$141K	$310K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.103%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0075%	4h	1.0770	+0.363%	$3K	—	10x	as long as short
OKX AXS-USDT-SWAP	+0.0093%	4h	1.0781	+0.466%	$1.4M	$2.8M	20x	as long as short
Lighter AXS	+0.0096%	1h	1.0794	+0.587%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0735	+0.037%	$264K	$296K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0737	+0.056%	$73K	$10K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0772	+0.385%	$6.0M	$9.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0773	+0.391%	$3.5M	$3.9M	75x	as long as short
Gate AXS_USDTlong	+0.0100%	8h	1.0731	long leg	$966K	$1.0M	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDTshort	+0.0100%	4h	1.0710	−0.196%	$11.2M	$735K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0740	+0.084%	$608K	$301K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0780	+0.457%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0724	−0.065%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0653	−0.731%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0636	−0.884%	$756K	$875K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0756	+0.233%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0769	+0.354%	$701	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0729	−0.016%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0143%	4h	1.0765	+0.317%	$276K	$17K	75x	as long as short