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: Gate against MEXC−0.113%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2042.040% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.113%, 7d avg +0.051%

Together, before fees+0.197%+$20 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 0.163% cheaper against MEXC than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0661	0.0100	pay 0.0050% / 4h	13m 22s	$11.5M	$705K	50x
Short	Gate AXS_USDT	1.0649	0.0100	get 0.0100% / 8h	13m 22s	$842K	$535K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.113%Rate

Funding earned: $0
Price spread: −0.113% → +0.051%: −$16.32
Slippage, 4 orders: −$185.03
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$220.35
Costs to cover: 2.040%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Gate: live order book, 9 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, 5 min ago	1.41 bp	4.9 bp −$5	23.8 bp −$238	58.4 bp −$5,838	102.7 bp −$51.3K
Sell Gate live order book, 9 min ago	7.53 bp	96.5 bp −$97	408.4 bp −$4,084	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	−0.760%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0061%	4h	1.0651	−0.094%	$281K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0660	−0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0682	+0.197%	$36K	$43K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0662	+0.009%	$256K	$705K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0661	−0.001%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0659	−0.014%	$6.0M	$10.9M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0661	0.000%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0657	−0.038%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDTshort	+0.0100%	8h	1.0649	−0.113%	$842K	$535K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDTlong	+0.0100%	4h	1.0661	long leg	$11.5M	$705K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0660	−0.009%	$588K	$280K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0660	−0.009%	$3.1M	$1.2M	50x	as long as short
Variational Omni AXS	+0.0100%	8h	1.0652	−0.081%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0649	−0.110%	$762K	$887K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0664	+0.028%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0656	−0.047%	$762	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0660	−0.014%	$8K	$251K	10x	as long as short
BingX AXS-USDT	+0.0200%	4h	1.0657	−0.038%	—	$2.6M	—	as long as short
Kraken Futures PF_AXSUSD	+0.0649%	1h	1.0665	+0.036%	$145K	$350K	20x	as long as short