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

Price spread now: KuCoin against OKX+0.150%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$1781.776% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.150%, 7d avg +0.013%

Together, before fees+0.059%+$6 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: KuCoin is 0.137% dearer against OKX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0684	0.0100	pay 0.0050% / 4h	1h 39m	$1.4M	$3.0M	20x
Short	KuCoin AXSUSDTM	1.0700	0.0100	get 0.0050% / 4h	1h 39m	$587K	$289K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.150%Rate

Funding earned: $0
Price spread: +0.150% → +0.013%: $13.7
Slippage, 4 orders: −$155.55
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$163.85
Costs to cover: 1.776%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; KuCoin: 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 OKX live order book, 3 min ago	0.93 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	9.35 bp	62.9 bp −$63	275.7 bp −$2,757	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	−0.1014%	1h	1.0580	−0.973%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0690	+0.056%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0706	+0.206%	$264K	$699K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0696	+0.108%	$72K	$18K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0694	+0.090%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0693	+0.084%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0684	long leg	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0696	+0.112%	$847K	$630K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0694	+0.094%	$11.5M	$683K	50x	as long as short
KuCoin AXSUSDTMshort	+0.0100%	4h	1.0700	+0.150%	$587K	$289K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AXSUSDT	+0.0100%	4h	1.0700	+0.150%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0697	+0.122%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0707	+0.216%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0700	+0.150%	$766K	$892K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0685	+0.009%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0688	+0.037%	$768	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0691	+0.064%	$7K	$230K	10x	as long as short
BloFin AXS-USDT	+0.0155%	4h	1.0705	+0.197%	$280K	$30K	75x	as long as short
Lighter AXS	+0.0256%	1h	1.0718	+0.318%	$36K	$39K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0379%	1h	1.0705	+0.197%	$141K	$355K	20x	as long as short