Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0153%/8h= −16.8% APRpaid last 24h 0.000%

Price spread now: SoDEX against Binance+0.039%7-day average — · you sell dearer than you buy

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

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. SoDEX is 0.039% dearer against Binance than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AXSUSDT	1.0621	0.0100	pay 0.0050% / 4h	1h 48m	$5.9M	$9.6M	75x
Short	SoDEX AXS-USD	1.0625	−0.0053	pay 0.0007% / 1h	48m 08s	$422	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$32.15
Price spread: +0.039% → 0.000%: $3.89
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$46.26
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 15 min ago; SoDEX: 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 Binance live order book, 15 min ago	1.41 bp	16.7 bp −$17	43.6 bp −$436	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

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 exchanges

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
SoDEX AXS-USDshort	−0.0053%	1h	1.0625	+0.039%	$422	$3K	5x
Injective AXS/USDC PERP	+0.0033%	1h	1.0580	−0.385%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0091%	4h	1.0620	−0.008%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0644	+0.218%	$36K	$42K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0628	+0.065%	$252K	$683K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0632	+0.109%	$72K	$16K	10x	as long as short
Binance AXSUSDTlong	+0.0100%	4h	1.0621	long leg	$5.9M	$9.6M	75x
Bybit AXSUSDT	+0.0100%	8h	1.0630	+0.086%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0625	+0.039%	$1.4M	$2.8M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0637	+0.152%	$837K	$296K	50x	as long as short

Show all 20 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0619	−0.018%	$11.5M	$621K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0640	+0.180%	$586K	$238K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0630	+0.086%	$3.1M	$1.1M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0624	+0.030%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0635	+0.131%	$38K	$2K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0642	+0.199%	$756K	$810K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0633	+0.114%	$2K	$1.2M	20x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0619	−0.022%	$8K	$253K	10x	as long as short
BloFin AXS-USDT	+0.0159%	4h	1.0632	+0.105%	$288K	$29K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0193%	1h	1.0637	+0.148%	$145K	$316K	20x	as long as short