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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC−0.028%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.024%+$2 · spread now −0.028%, 7d avg +0.010%

Together, before fees+0.025%+$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: Binance is 0.038% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0807	0.0100	pay 0.0050% / 4h	3h 04m	$11.5M	$745K	50x
Short	Binance AXSUSDT	1.0804	0.0100	get 0.0050% / 4h	3h 04m	$6.1M	$9.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → +0.010%: −$3.81
Slippage, 4 orders: −$26.67
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$44.48
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Binance: live order book, 6 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 MEXC live order book, 4 min ago	0.46 bp	4.1 bp −$4	22.3 bp −$223	56.1 bp −$5,607	102.3 bp −$51.2K
Sell Binance live order book, 6 min ago	0.93 bp	16.3 bp −$16	43.5 bp −$435	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	−0.0260%	1h	1.0821	+0.132%	$147K	$330K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.805%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0810	+0.028%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0080%	4h	1.0811	+0.037%	$279K	$17K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0828	+0.194%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0805	−0.019%	$266K	$307K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0818	+0.099%	$74K	$12K	10x	as long as short
Binance AXSUSDTshort	+0.0100%	4h	1.0804	−0.028%	$6.1M	$9.8M	75x
Bybit AXSUSDT	+0.0100%	8h	1.0807	0.000%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0795	−0.111%	$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_USDT	+0.0100%	8h	1.0815	+0.074%	$864K	$1.1M	50x	as long as short
MEXC AXS_USDTlong	+0.0100%	4h	1.0807	long leg	$11.5M	$745K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0820	+0.120%	$611K	$313K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0810	+0.028%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0815	+0.074%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0811	+0.037%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0812	+0.042%	$771K	$902K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0825	+0.167%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0812	+0.046%	$720	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0812	+0.051%	$7K	$241K	10x	as long as short