Settings8H · net · $10k
Funding arb · Price arb /

AXS

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: Hyperliquid against KuCoin−0.037%7-day average +0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$245as in the Funding arb table
Net, price: spread back to 7d avg − costs−$255as in the Price arb table
costs, in and out, $10k−$2452.446% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.009%−$1 on $10k
Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.037%, 7d avg +0.071%
Together, before fees+0.121%+ Points / potential airdropHyperliquid: Season 2 · farm board+$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: Hyperliquid is 0.108% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.071%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin AXSUSDTM1.07100.0100pay 0.0050% / 4h1h 54m$600K$302K50x
ShortHyperliquid AXS1.07060.0100get 0.0013% / 1h54m 33s$258K$312K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0
Price spread: −0.037% → +0.071%
−$10.83
Slippage, 4 orders
−$223.61
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$255.45
Costs to cover
2.446%
Break-even
never at this rate
Slippage from KuCoin: live order book, 44 min ago; Hyperliquid: live order book, 45 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 44 min ago4.69 bp74.1 bp −$74420.2 bp −$4,202doesn't fitdoesn't fit
Sell Hyperliquid live order book, 45 min ago3.28 bp31.8 bp −$32doesn't fitdoesn't fitdoesn't fit

AXS on 19 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective AXS/USDC PERP+0.0033%1h1.0720+0.093%$5$47K5.5xas long as short
Orderly PERP_AXS_USDC+0.0087%4h1.0700−0.093%$3K10xas long as short
Lighter AXS+0.0096%1h1.0725+0.140%$33K$41K5xas long as short
Hyperliquid AXSshort+0.0100%1h1.0706−0.037%$258K$312K5x
Aster AXSUSDT+0.0100%4h1.0705−0.046%$73K$14K10xas long as short
Binance AXSUSDT+0.0100%4h1.0699−0.102%$6.0M$9.9M75xas long as short
Bybit AXSUSDT+0.0100%8h1.0701−0.084%$3.7M$4.2M75xas long as short
OKX AXS-USDT-SWAP+0.0100%4h1.0694−0.149%$1.4M$2.9M20xas long as short
Gate AXS_USDT+0.0100%8h1.0697−0.121%$852K$951K50xas long as short
MEXC AXS_USDT+0.0100%4h1.0692−0.168%$11.3M$704K50xas long as short
Show all 19 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin AXSUSDTMlong+0.0100%4h1.0710long leg$600K$302K50x
Bitget AXSUSDT+0.0100%4h1.0700−0.093%$3.1M$1.2M50xas long as short
BingX AXS-USDT+0.0100%4h1.0701−0.084%$2.6Mas long as short
Variational Omni AXS+0.0100%8h1.0747+0.348%$36K$3Kas long as short
GRVT AXS_USDT_Perp+0.0100%4h1.0685−0.236%$763K$876K10xas long as short
SunX AXS-USDT+0.0100%4h1.0698−0.112%$1K$1.3M20xas long as short
SoDEX AXS-USD+0.0100%1h1.0700−0.093%$741$3K5xas long as short
Extended AXS-USD+0.0104%1h1.0701−0.088%$9K$240K10xas long as short
Kraken Futures PF_AXSUSD+0.0361%1h1.0715+0.045%$145K$337K20xas long as short