Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: BingX against OKX+0.094%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$710.710% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 7 days−0.085%−$8 · spread now +0.094%, 7d avg +0.009%

Together, before fees+0.091%+$9 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 0.085% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0658	0.0100	pay 0.0050% / 4h	3h 41m	$1.4M	$3.0M	20x
Short	BingX AXS-USDT	1.0668	0.0100	get 0.0050% / 4h	3h 41m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → +0.009%: $8.47
Slippage, 4 orders: −$51.04
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$62.57
Costs to cover: 0.710%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; BingX: live order book, 8 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 OKX live order book, 6 min ago	1.40 bp	17.7 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	4.21 bp	18.3 bp −$18	47.3 bp −$473	354.3 bp −$35.4K	502.1 bp −$251.0K

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	−0.732%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0045%	4h	1.0660	+0.019%	$278K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0670	+0.113%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0689	+0.291%	$36K	$42K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0656	−0.019%	$255K	$706K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0668	+0.095%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0653	−0.044%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0662	+0.038%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0658	long leg	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0674	+0.150%	$844K	$524K	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_USDT	+0.0100%	4h	1.0656	−0.019%	$11.5M	$706K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0670	+0.113%	$589K	$278K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0670	+0.113%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0668	+0.094%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0684	+0.246%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0678	+0.186%	$765K	$851K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0657	−0.009%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0664	+0.056%	$784	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0658	+0.003%	$7K	$246K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0465%	1h	1.0679	+0.197%	$145K	$344K	20x	as long as short