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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit−0.131%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$238as in the Price arb table

costs, in and out, $10k−$2242.241% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.164%+$16 · spread now −0.131%, 7d avg +0.006%

Together, before fees+0.208%+$21 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 0.136% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0720	0.0100	pay 0.0100% / 8h	6h 19m	$3.8M	$4.3M	75x
Short	Gate AXS_USDT	1.0706	0.0100	get 0.0100% / 8h	6h 19m	$853K	$995K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.131%Rate

Funding earned: $0
Price spread: −0.131% → +0.006%: −$13.61
Slippage, 4 orders: −$198.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$237.71
Costs to cover: 2.241%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 32 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, 3 min ago	2.32 bp	27.6 bp −$28	102.1 bp −$1,021	doesn't fit	doesn't fit
Sell Gate live order book, 32 min ago	9.83 bp	91.8 bp −$92	261.2 bp −$2,612	doesn't fit	doesn't fit

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	0.000%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0700	−0.187%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0735	+0.140%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0711	−0.084%	$259K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0714	−0.060%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0714	−0.060%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0720	long leg	$3.8M	$4.3M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0717	−0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTshort	+0.0100%	8h	1.0706	−0.131%	$853K	$995K	50x
MEXC AXS_USDT	+0.0100%	4h	1.0708	−0.112%	$11.4M	$728K	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	1.0720	0.000%	$601K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0710	−0.093%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0712	−0.075%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0731	+0.103%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0745	+0.231%	$762K	$920K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0705	−0.140%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0706	−0.131%	$718	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0712	−0.071%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0357%	1h	1.0725	+0.045%	$144K	$334K	20x	as long as short