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 0.000%

Price spread now: Binance against Bybit−0.084%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$800.805% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.084%, 7d avg −0.025%

Together, before fees+0.103%+$10 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: Binance is 0.059% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0674	0.0100	pay 0.0100% / 8h	6h 42m	$3.7M	$4.2M	75x
Short	Binance AXSUSDT	1.0665	0.0100	get 0.0050% / 4h	2h 42m	$6.0M	$10.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.025%: −$5.92
Slippage, 4 orders: −$59.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$86.4
Costs to cover: 0.805%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 12 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 Bybit live order book, 5 min ago	1.40 bp	25.3 bp −$25	95.1 bp −$951	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.47 bp	15.7 bp −$16	41.8 bp −$418	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
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.431%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0690	+0.150%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0090%	4h	1.0691	+0.159%	$275K	$18K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0719	+0.422%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0690	+0.150%	$259K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0700	+0.246%	$73K	$14K	10x	as long as short
Binance AXSUSDTshort	+0.0100%	4h	1.0665	−0.084%	$6.0M	$10.0M	75x
Bybit AXSUSDTlong	+0.0100%	8h	1.0674	long leg	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0669	−0.047%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0669	−0.047%	$851K	$992K	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	1.0670	−0.037%	$11.3M	$725K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0680	+0.056%	$601K	$312K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0670	−0.037%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0687	+0.122%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0674	−0.001%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0672	−0.016%	$762K	$904K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0700	+0.244%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0695	+0.197%	$711	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0689	+0.138%	$7K	$236K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0358%	1h	1.0707	+0.310%	$146K	$333K	20x	as long as short