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: MEXC against OKX+0.019%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.019%, 7d avg −0.014%

Together, before fees+0.117%+$12 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: MEXC is 0.033% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0746	0.0100	pay 0.0050% / 4h	3h 16m	$1.4M	$2.9M	20x
Short	MEXC AXS_USDT	1.0748	0.0100	get 0.0050% / 4h	3h 16m	$11.5M	$698K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.014%: $3.27
Slippage, 4 orders: −$30.26
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$40.99
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; MEXC: live order book, 1 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, 5 min ago	1.86 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.93 bp	4.5 bp −$4	31.7 bp −$317	60.8 bp −$6,076	115.1 bp −$57.5K

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	1.0720	−0.242%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0750	+0.037%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0755	+0.084%	$261K	$309K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0754	+0.076%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0750	+0.037%	$6.1M	$10.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0750	+0.037%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0746	long leg	$1.4M	$2.9M	20x
Gate AXS_USDT	+0.0100%	8h	1.0757	+0.102%	$855K	$898K	50x	as long as short
MEXC AXS_USDTshort	+0.0100%	4h	1.0748	+0.019%	$11.5M	$698K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0750	+0.037%	$602K	$283K	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	1.0740	−0.056%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0749	+0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0763	+0.155%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0750	+0.037%	$769K	$883K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0745	−0.009%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0752	+0.056%	$749	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0747	+0.006%	$8K	$238K	10x	as long as short
BloFin AXS-USDT	+0.0143%	4h	1.0756	+0.093%	$276K	$26K	75x	as long as short
Lighter AXS	+0.0152%	1h	1.0777	+0.288%	$37K	$39K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0212%	1h	1.0765	+0.177%	$141K	$344K	20x	as long as short