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 +0.005%

Price spread now: BingX against MEXC+0.074%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days−0.071%−$7 · spread now +0.074%, 7d avg +0.023%

Together, before fees−0.021%−$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: BingX is 0.052% dearer against MEXC than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0752	0.0100	pay 0.0050% / 4h	3h 50m	$11.4M	$742K	50x
Short	BingX AXS-USDT	1.0760	0.0100	get 0.0050% / 4h	3h 50m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.023%: $5.17
Slippage, 4 orders: −$39
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.83
Costs to cover: 0.530%
Break-even: never at this rate

Slippage from MEXC: live order book, 7 min ago; BingX: live order book, 4 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, 7 min ago	4.17 bp	7.6 bp −$8	41.1 bp −$411	68.4 bp −$6,838	119.0 bp −$59.5K
Sell BingX live order book, 4 min ago	4.64 bp	17.8 bp −$18	41.9 bp −$419	282.1 bp −$28.2K	417.5 bp −$208.8K

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	1.0772	+0.188%	$142K	$320K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.298%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0750	−0.019%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0779	+0.251%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0762	+0.093%	$269K	$302K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0761	+0.082%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0753	+0.009%	$6.1M	$9.7M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0765	+0.121%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0755	+0.028%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0751	−0.009%	$968K	$903K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDTlong	+0.0100%	4h	1.0752	long leg	$11.4M	$742K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0750	−0.019%	$611K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0760	+0.074%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0760	+0.074%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0763	+0.105%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0770	+0.168%	$765K	$888K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0761	+0.084%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0753	+0.009%	$718	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0751	−0.013%	$7K	$163K	10x	as long as short
BloFin AXS-USDT	+0.0146%	4h	1.0751	−0.009%	$277K	$17K	75x	as long as short