Funding arb · Price arb /

AXS

all AXS markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against Bitget−0.009%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1101.103% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.009%, 7d avg +0.026%

Together, before fees−0.023%−$2 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 0.036% cheaper against Bitget than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AXSUSDT	1.0660	0.0100	pay 0.0050% / 4h	2h 23m	$3.1M	$1.2M	50x
Short	Bybit AXSUSDT	1.0659	0.0100	get 0.0100% / 8h	2h 23m	$3.2M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.026%: −$3.58
Slippage, 4 orders: −$87.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$113.86
Costs to cover: 1.103%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Bybit: 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, 4 min ago	4.70 bp	20.1 bp −$20	51.3 bp −$513	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.82 bp	31.1 bp −$31	99.2 bp −$992	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	−0.0337%	1h	1.0673	+0.118%	$139K	$321K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.563%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0077%	4h	1.0660	0.000%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0681	+0.197%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0663	+0.028%	$262K	$291K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0672	+0.117%	$73K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0660	0.000%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0659	−0.009%	$3.2M	$3.6M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0662	+0.019%	$1.4M	$2.7M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0665	+0.047%	$962K	$1.0M	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	1.0656	−0.038%	$11.1M	$763K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0670	+0.094%	$575K	$291K	50x	as long as short
Bitget AXSUSDTlong	+0.0100%	4h	1.0660	long leg	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0664	+0.038%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0661	+0.011%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0640	−0.188%	$759K	$914K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0658	−0.019%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0660	0.000%	$701	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0659	−0.011%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0136%	4h	1.0659	−0.009%	$271K	$30K	75x	as long as short