Funding arb · Price arb /

AXS

all AXS markets

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: OKX against Bybit−0.139%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$900.897% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 7 days+0.129%+$13 · spread now −0.139%, 7d avg −0.023%

Together, before fees+0.015%+$2 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: OKX is 0.116% cheaper against Bybit than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AXSUSDT	1.0773	0.0100	pay 0.0100% / 8h	5h 30m	$3.8M	$4.2M	75x
Short	OKX AXS-USDT-SWAP	1.0758	0.0100	get 0.0050% / 4h	1h 30m	$1.4M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.139%Rate

Funding earned: $0
Price spread: −0.139% → −0.023%: −$11.64
Slippage, 4 orders: −$68.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$101.33
Costs to cover: 0.897%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 2 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	2.79 bp	28.0 bp −$28	99.1 bp −$991	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.40 bp	17.3 bp −$17	doesn't fit	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	−0.492%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0089%	4h	1.0760	−0.121%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0789	+0.149%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0766	−0.065%	$259K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0754	−0.174%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0761	−0.111%	$6.1M	$10.0M	75x	as long as short
Bybit AXSUSDTlong	+0.0100%	8h	1.0773	long leg	$3.8M	$4.2M	75x
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0758	−0.139%	$1.4M	$2.9M	20x
Gate AXS_USDT	+0.0100%	8h	1.0756	−0.158%	$857K	$953K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0766	−0.065%	$11.4M	$707K	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	1.0750	−0.213%	$603K	$301K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0760	−0.121%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0761	−0.111%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0765	−0.076%	$37K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0740	−0.307%	$771K	$886K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0753	−0.186%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0765	−0.074%	$745	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0761	−0.112%	$7K	$245K	10x	as long as short
BloFin AXS-USDT	+0.0147%	4h	1.0767	−0.056%	$278K	$23K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0359%	1h	1.0772	−0.011%	$145K	$336K	20x	as long as short