Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: BingX against Bybit+0.094%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$890.894% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.082%−$8 · spread now +0.094%, 7d avg −0.014%

Together, before fees−0.003%$0 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: BingX is 0.109% dearer against Bybit than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0586	0.0100	pay 0.0100% / 8h	2h 31m	$3.7M	$4.3M	75x
Short	BingX AXS-USDT	1.0596	0.0100	get 0.0050% / 4h	2h 31m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → −0.014%: $10.89
Slippage, 4 orders: −$68.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$78.46
Costs to cover: 0.894%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BingX: 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 Bybit live order book, 2 min ago	0.47 bp	25.5 bp −$26	130.8 bp −$1,308	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.71 bp	21.8 bp −$22	43.0 bp −$430	291.3 bp −$29.1K	412.0 bp −$206.0K

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	−0.057%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0075%	4h	1.0592	+0.057%	$276K	$30K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0595	+0.085%	$36K	$39K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0566	−0.189%	$393K	$472K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0586	−0.001%	$72K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0578	−0.076%	$6.0M	$10.6M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0586	long leg	$3.7M	$4.3M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0581	−0.047%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0590	+0.038%	$839K	$829K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0584	−0.019%	$11.3M	$671K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0600	+0.132%	$587K	$286K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0590	+0.038%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0596	+0.094%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0640	+0.513%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0620	+0.321%	$753K	$885K	10x	as long as short
Orderly PERP_AXS_USDC	+0.0100%	4h	1.0580	−0.057%	$3K	—	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0588	+0.019%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0583	−0.028%	$747	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0576	−0.092%	$7K	$223K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0418%	1h	1.0594	+0.076%	$141K	$350K	20x	as long as short