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: Gate against KuCoin−0.056%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$329as in the Funding arb table

Net, price: spread back to 7d avg − costs−$339as in the Price arb table

costs, in and out, $10k−$3293.293% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.056%, 7d avg +0.036%

Together, before fees+0.120%+$12 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: Gate is 0.092% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AXSUSDTM	1.0740	0.0100	pay 0.0050% / 4h	3h 01m	$607K	$312K	50x
Short	Gate AXS_USDT	1.0734	0.0100	get 0.0100% / 8h	7h 01m	$858K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → +0.036%: −$9.17
Slippage, 4 orders: −$302.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$338.52
Costs to cover: 3.293%
Break-even: never at this rate

Slippage from KuCoin: live order book, 51 min ago; Gate: live order book, 5 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 KuCoin live order book, 51 min ago	9.28 bp	79.5 bp −$80	374.2 bp −$3,742	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	6.48 bp	88.7 bp −$89	306.6 bp −$3,066	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	+0.075%	$147K	$331K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.186%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0064%	4h	1.0740	0.000%	$277K	$17K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0740	0.000%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0756	+0.149%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0732	−0.074%	$264K	$310K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0748	+0.072%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0729	−0.104%	$6.0M	$9.9M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0740	0.000%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0727	−0.121%	$1.4M	$2.9M	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDTshort	+0.0100%	8h	1.0734	−0.056%	$858K	$1.1M	50x
MEXC AXS_USDT	+0.0100%	4h	1.0724	−0.149%	$11.4M	$745K	50x	as long as short
KuCoin AXSUSDTMlong	+0.0100%	4h	1.0740	long leg	$607K	$312K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0730	−0.093%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0734	−0.056%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0811	+0.661%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0810	+0.652%	$771K	$902K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0728	−0.112%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0730	−0.093%	$715	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0727	−0.121%	$7K	$241K	10x	as long as short