Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Binance+0.047%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$820.816% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.047%, 7d avg +0.027%

Together, before fees−0.053%−$5 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 0.020% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AXSUSDT	1.0680	0.0100	pay 0.0050% / 4h	40m 42s	$6.1M	$10.2M	75x
Short	Bybit AXSUSDT	1.0685	0.0100	get 0.0100% / 8h	4h 40m	$3.7M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.027%: $2.02
Slippage, 4 orders: −$60.62
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.6
Costs to cover: 0.816%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Bybit: live order book, 2 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 Binance live order book, 14 min ago	0.94 bp	17.2 bp −$17	44.7 bp −$447	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.41 bp	26.4 bp −$26	113.1 bp −$1,131	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
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.375%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0080%	4h	1.0661	−0.178%	$275K	$24K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0093%	4h	1.0670	−0.094%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0701	+0.197%	$32K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0685	+0.047%	$257K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0676	−0.042%	$73K	$14K	10x	as long as short
Binance AXSUSDTlong	+0.0100%	4h	1.0680	long leg	$6.1M	$10.2M	75x
Bybit AXSUSDTshort	+0.0100%	8h	1.0685	+0.047%	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0677	−0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0669	−0.103%	$850K	$898K	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	1.0684	+0.037%	$11.4M	$668K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0670	−0.094%	$598K	$300K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0680	0.000%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0677	−0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0669	−0.103%	$36K	$2K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0652	−0.265%	$759K	$887K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0665	−0.140%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0672	−0.075%	$746	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0677	−0.025%	$7K	$243K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0440%	1h	1.0682	+0.019%	$139K	$348K	20x	as long as short