Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.003%

Price spread now: Gate against BloFin+0.120%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$2042.044% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.120%, 7d avg +0.033%

Together, before fees−0.189%−$19 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: Gate is 0.087% dearer against BloFin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin AXS-USDT	1.0789	0.0107	pay 0.0053% / 4h	23m 05s	$275K	$17K	75x
Short	Gate AXS_USDT	1.0802	0.0100	get 0.0100% / 8h	23m 05s	$972K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BloFin. 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 BloFinbpFee GatebpOrdersPrice spread, now +0.120%Rate

Funding earned: −$1.44
Price spread: +0.120% → +0.033%: $8.74
Slippage, 4 orders: −$177.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$197.07
Costs to cover: 2.044%
Break-even: never at this rate

Slippage from BloFin: live order book, 48 min ago; Gate: live order book, 4 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 BloFin live order book, 48 min ago	0.47 bp	12.2 bp −$12	30.4 bp −$304	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	8.32 bp	87.1 bp −$87	262.1 bp −$2,621	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	−0.0239%	1h	1.0803	+0.125%	$141K	$314K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.640%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0790	+0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0816	+0.250%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0792	+0.028%	$266K	$300K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0789	+0.001%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0788	−0.011%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0805	+0.148%	$3.7M	$4.0M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0790	+0.009%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTshort	+0.0100%	8h	1.0802	+0.120%	$972K	$1.0M	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0785	−0.037%	$11.5M	$750K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0790	+0.009%	$612K	$307K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0800	+0.102%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0795	+0.056%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0810	+0.192%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0793	+0.038%	$771K	$892K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0783	−0.056%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0789	0.000%	$703	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0786	−0.031%	$7K	$156K	10x	as long as short
BloFin AXS-USDTlong	+0.0107%	4h	1.0789	long leg	$275K	$17K	75x