Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bitget+0.224%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.224% dearer against Bitget than usual: you sell high and buy low, +$22 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget AXSUSDT	1.0710	0.0100	pay 0.0050% / 4h	2h 01m	$3.1M	$1.2M	50x
Short	Lighter AXS	1.0734	0.0096	get 0.0012% / 1h	1m 09s	$33K	$41K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpOrdersPrice spread, now +0.224%Rate

Funding earned: −$0.84
Price spread: +0.224% → 0.000%: $22.41
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.57
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Bitget: live order book, 1 min ago; Lighter: 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 Bitget live order book, 1 min ago	4.67 bp	19.3 bp −$19	53.7 bp −$537	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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 19 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	+0.093%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0085%	4h	1.0710	0.000%	$3K	—	10x	as long as short
Lighter AXSshort	+0.0096%	1h	1.0734	+0.224%	$33K	$41K	5x
Hyperliquid AXS	+0.0100%	1h	1.0711	+0.009%	$258K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0712	+0.019%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0709	−0.009%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0712	+0.019%	$3.8M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0707	−0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0709	−0.009%	$853K	$997K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0704	−0.056%	$11.4M	$732K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0710	0.000%	$600K	$302K	50x	as long as short
Bitget AXSUSDTlong	+0.0100%	4h	1.0710	long leg	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0709	−0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0715	+0.043%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0704	−0.059%	$764K	$906K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0708	−0.019%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0710	0.000%	$733	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0704	−0.055%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0357%	1h	1.0725	+0.138%	$145K	$335K	20x	as long as short