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% APRpaid last 24h 0.000%

Price spread now: OKX against Gate+0.047%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$2152.146% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.047%, 7d avg −0.044%

Together, before fees−0.319%−$32 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 0.091% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0697	0.0100	pay 0.0100% / 8h	1h 00m	$846K	$631K	50x
Short	OKX AXS-USDT-SWAP	1.0702	0.0100	get 0.0050% / 4h	1h 00m	$1.4M	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → −0.044%: $9.07
Slippage, 4 orders: −$189.63
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$205.56
Costs to cover: 2.146%
Break-even: never at this rate

Slippage from Gate: live order book, 26 min ago; OKX: live order book, 2 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, 26 min ago	11.65 bp	82.1 bp −$82	379.6 bp −$3,796	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.47 bp	21.2 bp −$21	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	−0.1014%	1h	1.0580	−1.094%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0091%	4h	1.0689	−0.075%	$279K	$30K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0700	+0.028%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0702	+0.047%	$259K	$703K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0698	+0.009%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0697	+0.004%	$6.0M	$10.9M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0698	+0.009%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0702	+0.047%	$1.4M	$3.0M	20x
Gate AXS_USDTlong	+0.0100%	8h	1.0697	long leg	$846K	$631K	50x
MEXC AXS_USDT	+0.0100%	4h	1.0677	−0.187%	$11.5M	$699K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0700	+0.028%	$587K	$289K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0700	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0696	−0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0691	−0.055%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0699	+0.015%	$767K	$875K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0694	−0.028%	$966	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0696	−0.009%	$763	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0694	−0.024%	$7K	$238K	10x	as long as short
Lighter AXS	+0.0176%	1h	1.0724	+0.252%	$36K	$43K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0379%	1h	1.0711	+0.135%	$145K	$346K	20x	as long as short