Funding arb · Price arb /

AXL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bitget+0.019%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$920.924% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.557%−$56 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.019%, 7d avg −0.012%

Together, before fees−0.652%−$65 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 0.031% dearer against Bitget than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AXLUSDT	0.05248	0.0100	pay 0.0050% / 4h	2h 47m	$568K	$300K	50x
Short	MEXC AXL_USDT	0.05249	0.0100	get 0.0050% / 4h	2h 47m	$331K	$161K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.012%: $3.12
Slippage, 4 orders: −$76.42
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$89.29
Costs to cover: 0.924%
Break-even: never at this rate

Slippage from Bitget: live order book, 18 min ago; MEXC: live order book, 3 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 Bitget live order book, 18 min ago	6.60 bp	29.6 bp −$30	166.7 bp −$1,667	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.90 bp	14.0 bp −$14	65.8 bp −$658	118.8 bp −$11.9K	doesn't fit

AXL on 9 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
BloFin AXL-USDT	+0.0050%	4h	0.05246	−0.038%	$123K	$11K	50x	as long as short
BingX AXL-USDT	+0.0070%	4h	0.05251	+0.057%	—	$2.3M	—	as long as short
Aster AXLUSDT	+0.0100%	4h	0.05251	+0.061%	$34K	$6K	5x	as long as short
Binance AXLUSDT	+0.0100%	4h	0.05248	+0.002%	$1.9M	$4.0M	50x	as long as short
Bybit AXLUSDT	+0.0100%	4h	0.05250	+0.038%	$1.5M	$1.9M	25x	as long as short
MEXC AXL_USDTshort	+0.0100%	4h	0.05249	+0.019%	$331K	$161K	50x
KuCoin AXLUSDTM	+0.0100%	4h	0.05248	0.000%	$445K	$95K	30x	as long as short
Bitget AXLUSDTlong	+0.0100%	4h	0.05248	long leg	$568K	$300K	50x
Variational Omni AXL	+0.0100%	4h	0.05240	−0.158%	$6K	$23K	—	as long as short