Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Gate−0.018%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$211as in the Price arb table

costs, in and out, $10k−$2172.170% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now −0.018%, 7d avg −0.077%

Together, before fees−0.086%+ Points / potential airdropExtended: Active · farm board−$9 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: Extended is 0.059% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0746	0.0100	pay 0.0100% / 8h	6h 21m	$856K	$995K	50x
Short	Extended AXS-USD	1.0744	0.0104	get 0.0013% / 1h	21m 47s	$9K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now −0.018%Rate

Funding earned: $0.84
Price spread: −0.018% → −0.077%: $5.89
Slippage, 4 orders: −$197.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$210.32
Costs to cover: 2.170%
Break-even: 1759.7 days

Slippage from Gate: live order book, 30 min ago; Extended: live order book, 45 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 Gate live order book, 30 min ago	9.83 bp	78.8 bp −$79	267.9 bp −$2,679	doesn't fit	doesn't fit
Sell Extended live order book, 45 min ago	2.68 bp	25.7 bp −$26	170.5 bp −$1,705	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	−0.242%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0750	+0.037%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0757	+0.102%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0738	−0.074%	$259K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0756	+0.094%	$74K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0728	−0.168%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0737	−0.084%	$3.8M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0728	−0.168%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDTlong	+0.0100%	8h	1.0746	long leg	$856K	$995K	50x
MEXC AXS_USDT	+0.0100%	4h	1.0723	−0.214%	$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	1.0740	−0.056%	$602K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0750	+0.037%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0743	−0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0755	+0.086%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0747	+0.011%	$762K	$920K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0752	+0.056%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0745	−0.009%	$717	$3K	5x	as long as short
Extended AXS-USDshort	+0.0104%	1h	1.0744	−0.018%	$9K	$240K	10x
Kraken Futures PF_AXSUSD	+0.0356%	1h	1.0754	+0.078%	$145K	$332K	20x	as long as short