Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Gate+0.028%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1921.919% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.028%, 7d avg −0.056%

Together, before fees−0.113%−$11 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: MEXC is 0.084% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate AXS_USDT	1.0592	0.0100	pay 0.0100% / 8h	2h 00m	$955K	$1.0M	50x
Short	MEXC AXS_USDT	1.0595	0.0100	get 0.0050% / 4h	2h 00m	$11.1M	$765K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.056%: $8.43
Slippage, 4 orders: −$172.94
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$183.51
Costs to cover: 1.919%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; MEXC: live order book, 3 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, 2 min ago	11.79 bp	82.8 bp −$83	256.6 bp −$2,566	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.42 bp	4.9 bp −$5	36.4 bp −$364	56.3 bp −$5,633	87.0 bp −$43.5K

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
Kraken Futures PF_AXSUSD	−0.0339%	1h	1.0607	+0.145%	$138K	$321K	20x	as long as short
OKX AXS-USDT-SWAP	+0.0018%	4h	1.0598	+0.057%	$1.4M	$2.7M	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+1.208%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0051%	4h	1.0588	−0.038%	$272K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0073%	4h	1.0590	−0.019%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0615	+0.217%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0600	+0.076%	$260K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0595	+0.025%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0595	+0.032%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0594	+0.019%	$3.1M	$3.6M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDTlong	+0.0100%	8h	1.0592	long leg	$955K	$1.0M	50x
MEXC AXS_USDTshort	+0.0100%	4h	1.0595	+0.028%	$11.1M	$765K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0600	+0.076%	$582K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0590	−0.019%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0594	+0.019%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0599	+0.063%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0599	+0.062%	$756K	$888K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0598	+0.057%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0597	+0.047%	$694	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0594	+0.020%	$7K	$156K	10x	as long as short