Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against SunX−0.075%7-day average +0.023% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.075%, 7d avg +0.023%

Together, before fees−0.026%−$3 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: Bybit is 0.098% cheaper against SunX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AXS-USDT	1.0616	0.0100	pay 0.0050% / 4h	2h 07m	$2K	$1.3M	20x
Short	Bybit AXSUSDT	1.0608	0.0100	get 0.0100% / 8h	2h 07m	$3.2M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → +0.023%: −$9.79
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.79
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Bybit: live order book, 10 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 SunX live order book, 6 min ago	492.20 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 10 min ago	2.35 bp	29.1 bp −$29	79.7 bp −$797	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
Kraken Futures PF_AXSUSD	−0.0338%	1h	1.0627	+0.108%	$139K	$322K	20x	as long as short
OKX AXS-USDT-SWAP	+0.0025%	4h	1.0612	−0.038%	$1.4M	$2.7M	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.980%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0074%	4h	1.0610	−0.057%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0085%	4h	1.0621	+0.047%	$273K	$30K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0639	+0.217%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0622	+0.056%	$261K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0621	+0.050%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0616	+0.004%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0608	−0.075%	$3.2M	$3.6M	75x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDT	+0.0100%	8h	1.0636	+0.188%	$959K	$1.0M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0615	−0.009%	$11.1M	$764K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0620	+0.038%	$583K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0620	+0.038%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0610	−0.057%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0610	−0.059%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0616	−0.003%	$758K	$907K	10x	as long as short
SunX AXS-USDTlong	+0.0100%	4h	1.0616	long leg	$2K	$1.3M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0615	−0.009%	$698	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0615	−0.009%	$7K	$156K	10x	as long as short