Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Bybit against SoDEX−0.019%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AXS-USD	1.0635	0.0100	pay 0.0013% / 1h	46m 15s	$679	$3K	5x
Short	Bybit AXSUSDT	1.0633	0.0100	get 0.0100% / 8h	1h 46m	$3.2M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → 0.000%: −$1.88
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$20.88
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 1 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	1.41 bp	23.7 bp −$24	90.5 bp −$905	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_AXSUSD	−0.0476%	1h	1.0644	+0.085%	$139K	$320K	20x	as long as short
OKX AXS-USDT-SWAP	+0.0027%	4h	1.0633	−0.019%	$1.4M	$2.7M	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.799%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0071%	4h	1.0630	−0.047%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0659	+0.226%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0635	0.000%	$261K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0638	+0.029%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0635	0.000%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0633	−0.019%	$3.2M	$3.6M	75x
Gate AXS_USDT	+0.0100%	8h	1.0639	+0.038%	$959K	$1.0M	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	1.0630	−0.047%	$11.1M	$720K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0630	−0.047%	$580K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0640	+0.047%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0627	−0.075%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0626	−0.088%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0630	−0.047%	$751K	$882K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0630	−0.047%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USDlong	+0.0100%	1h	1.0635	long leg	$679	$3K	5x
Extended AXS-USD	+0.0104%	1h	1.0631	−0.035%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0149%	4h	1.0630	−0.047%	$271K	$17K	75x	as long as short