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: Bybit against MEXC−0.009%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.009%, 7d avg +0.038%

Together, before fees−0.002%$0 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: Bybit is 0.047% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0692	0.0100	pay 0.0050% / 4h	52m 22s	$11.5M	$692K	50x
Short	Bybit AXSUSDT	1.0691	0.0100	get 0.0100% / 8h	52m 22s	$3.7M	$4.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.038%: −$4.71
Slippage, 4 orders: −$42.68
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$62.38
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Bybit: 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 MEXC live order book, 6 min ago	1.40 bp	4.9 bp −$5	14.3 bp −$143	54.9 bp −$5,494	92.0 bp −$46.0K
Sell Bybit live order book, 5 min ago	3.28 bp	23.9 bp −$24	82.8 bp −$828	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	+0.0033%	1h	1.0580	−1.048%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0690	−0.019%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0693	+0.009%	$259K	$704K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0695	+0.030%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0693	+0.014%	$6.0M	$10.9M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0691	−0.009%	$3.7M	$4.3M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0694	+0.019%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0695	+0.028%	$846K	$535K	50x	as long as short
MEXC AXS_USDTlong	+0.0100%	4h	1.0692	long leg	$11.5M	$692K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0700	+0.075%	$587K	$289K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AXSUSDT	+0.0100%	4h	1.0690	−0.019%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0695	+0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0670	−0.210%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0690	−0.019%	$766K	$875K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0692	0.000%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0695	+0.028%	$764	$3K	5x	as long as short
Lighter AXS	+0.0104%	1h	1.0718	+0.243%	$36K	$43K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0690	−0.015%	$7K	$247K	10x	as long as short
BloFin AXS-USDT	+0.0107%	4h	1.0688	−0.037%	$280K	$30K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0647%	1h	1.0706	+0.132%	$145K	$349K	20x	as long as short