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 −0.005%

Price spread now: Bybit against BingX−0.065%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$790.793% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.065%, 7d avg +0.012%

Together, before fees−0.005%−$1 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 0.076% cheaper against BingX than usual: you would sell low and buy high, −$8 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	BingX AXS-USDT	1.0832	0.0100	pay 0.0050% / 4h	3h 07m	—	$2.6M	—
Short	Bybit AXSUSDT	1.0825	0.0100	get 0.0100% / 8h	7h 07m	$3.7M	$4.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → +0.012%: −$7.62
Slippage, 4 orders: −$58.32
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$86.94
Costs to cover: 0.793%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Bybit: live order book, 1 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 BingX live order book, 13 min ago	4.64 bp	18.2 bp −$18	24.0 bp −$240	318.1 bp −$31.8K	486.0 bp −$243.0K
Sell Bybit live order book, 1 min ago	0.92 bp	25.3 bp −$25	78.2 bp −$782	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	−0.0259%	1h	1.0835	+0.026%	$147K	$330K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−1.034%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0057%	4h	1.0827	−0.046%	$279K	$17K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0080%	4h	1.0820	−0.111%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0846	+0.129%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0825	−0.065%	$266K	$307K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0834	+0.019%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0824	−0.074%	$6.1M	$9.8M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0825	−0.065%	$3.7M	$4.1M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0818	−0.129%	$1.5M	$2.9M	20x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDT	+0.0100%	8h	1.0814	−0.166%	$864K	$1.1M	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0824	−0.074%	$11.5M	$745K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0830	−0.018%	$612K	$313K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0830	−0.018%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDTlong	+0.0100%	4h	1.0832	long leg	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0796	−0.330%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0812	−0.189%	$771K	$902K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0820	−0.111%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0820	−0.111%	$715	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0821	−0.103%	$7K	$241K	10x	as long as short