Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.016%

Price spread now: Orderly 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 Orderly

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	1.0752	0.0100	pay 0.0013% / 1h	17m 16s	$749	$3K	5x
Short	Orderly PERP_AXS_USDC	1.0750	0.0093	get 0.0047% / 4h	3h 17m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.019%Rate

Funding earned: −$1.42
Price spread: −0.019% → 0.000%: −$1.86
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$17.28
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

SoDEX and Orderly: 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
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.298%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDCshort	+0.0093%	4h	1.0750	−0.019%	$3K	—	10x
Hyperliquid AXS	+0.0100%	1h	1.0757	+0.047%	$261K	$309K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0754	+0.023%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0751	−0.012%	$6.1M	$10.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0753	+0.009%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0749	−0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0757	+0.047%	$855K	$898K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0739	−0.121%	$11.5M	$698K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0750	−0.019%	$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	1.0750	−0.019%	$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	+0.099%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0750	−0.019%	$769K	$883K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0745	−0.065%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USDlong	+0.0100%	1h	1.0752	long leg	$749	$3K	5x
Extended AXS-USD	+0.0104%	1h	1.0748	−0.040%	$8K	$238K	10x	as long as short
BloFin AXS-USDT	+0.0143%	4h	1.0756	+0.037%	$276K	$26K	75x	as long as short
Lighter AXS	+0.0152%	1h	1.0781	+0.270%	$37K	$39K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0212%	1h	1.0765	+0.121%	$141K	$344K	20x	as long as short