Settings8H · net · $10k
Funding arb · Price arb /

AXS

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SwapBacktest
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: Hyperliquid against Bybit+0.028%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$109as in the Price arb table
costs, in and out, $10k−$1081.078% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.035%+$4 on $10k
Price spread, last 4 days (all we have)+0.116%+$12 · spread now +0.028%, 7d avg +0.043%
Together, before fees+0.151%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 on $10k · with fees, hour by hour
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit AXSUSDT1.06590.0100pay 0.0100% / 8h4h 44m$3.7M$4.2M75x
ShortHyperliquid AXS1.06620.0100get 0.0013% / 1h44m 55s$257K$311K5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0
Price spread: +0.028% → +0.043%
−$1.44
Slippage, 4 orders
−$87.8
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$109.24
Costs to cover
1.078%
Break-even
never at this rate
Slippage from Bybit: live order book, 3 min ago; Hyperliquid: live order book, 45 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 3 min ago2.34 bp24.7 bp −$25104.3 bp −$1,043doesn't fitdoesn't fit
Sell Hyperliquid live order book, 45 min ago2.79 bp25.4 bp −$25doesn't fitdoesn't fitdoesn't fit

AXS on 20 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective AXS/USDC PERP+0.0033%1h1.0720+0.572%$5$47K5.5xas long as short
BloFin AXS-USDT+0.0057%4h1.0645−0.131%$276K$24K75xas long as short
Orderly PERP_AXS_USDC+0.0093%4h1.0650−0.084%$3K10xas long as short
Lighter AXS+0.0096%1h1.0678+0.178%$32K$41K5xas long as short
Hyperliquid AXSshort+0.0100%1h1.0662+0.028%$257K$311K5x
Aster AXSUSDT+0.0100%4h1.0652−0.063%$73K$14K10xas long as short
Binance AXSUSDT+0.0100%4h1.0652−0.066%$6.0M$10.2M75xas long as short
Bybit AXSUSDTlong+0.0100%8h1.0659long leg$3.7M$4.2M75x
OKX AXS-USDT-SWAP+0.0100%4h1.0653−0.056%$1.4M$2.9M20xas long as short
Gate AXS_USDT+0.0100%8h1.0648−0.103%$848K$898K50xas long as short
Show all 20 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
MEXC AXS_USDT+0.0100%4h1.0652−0.066%$11.3M$668K50xas long as short
KuCoin AXSUSDTM+0.0100%4h1.0660+0.009%$598K$300K50xas long as short
Bitget AXSUSDT+0.0100%4h1.0650−0.084%$3.1M$1.2M50xas long as short
BingX AXS-USDT+0.0100%4h1.0652−0.066%$2.6Mas long as short
Variational Omni AXS+0.0100%8h1.0663+0.033%$36K$3Kas long as short
GRVT AXS_USDT_Perp+0.0100%4h1.0650−0.083%$756K$876K10xas long as short
SunX AXS-USDT+0.0100%4h1.0653−0.056%$1K$1.3M20xas long as short
SoDEX AXS-USD+0.0100%1h1.0648−0.103%$744$3K5xas long as short
Extended AXS-USD+0.0104%1h1.0649−0.090%$7K$243K10xas long as short
Kraken Futures PF_AXSUSD+0.0441%1h1.0652−0.065%$138K$349K20xas long as short