Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.005%

Price spread now: SoDEX against BingX−0.019%7-day average — · you buy dearer than you sell

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

Long on BingX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AXS-USDT	1.0653	0.0200	pay 0.0100% / 4h	11m 48s	—	$2.6M	—
Short	SoDEX AXS-USD	1.0651	0.0100	get 0.0013% / 1h	11m 48s	$765	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$21
Price spread: −0.019% → 0.000%: −$1.88
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$40.88
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 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 BingX live order book, 3 min ago	4.22 bp	16.1 bp −$16	36.9 bp −$369	342.5 bp −$34.3K	458.4 bp −$229.2K
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 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	1.0580	−0.685%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0660	+0.066%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0096%	4h	1.0663	+0.094%	$281K	$29K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0673	+0.188%	$36K	$43K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0652	−0.009%	$256K	$705K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0654	+0.009%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0650	−0.025%	$6.0M	$10.9M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0653	0.000%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0646	−0.066%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0645	−0.075%	$842K	$535K	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	1.0650	−0.028%	$11.5M	$705K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0660	+0.066%	$588K	$280K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0640	−0.122%	$3.1M	$1.2M	50x	as long as short
Variational Omni AXS	+0.0100%	8h	1.0652	−0.006%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0649	−0.035%	$762K	$887K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0655	+0.019%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USDshort	+0.0100%	1h	1.0651	−0.019%	$765	$3K	5x
Extended AXS-USD	+0.0104%	1h	1.0647	−0.053%	$8K	$251K	10x	as long as short
BingX AXS-USDTlong	+0.0200%	4h	1.0653	long leg	—	$2.6M	—
Kraken Futures PF_AXSUSD	+0.0650%	1h	1.0659	+0.055%	$145K	$349K	20x	as long as short