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% APRpaid last 24h 0.000%

Price spread now: Gate against KuCoin−0.047%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$351as in the Funding arb table

Net, price: spread back to 7d avg − costs−$359as in the Price arb table

costs, in and out, $10k−$3513.511% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.047%, 7d avg +0.031%

Together, before fees+0.121%+$12 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 0.078% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AXSUSDTM	1.0730	0.0100	pay 0.0050% / 4h	1h 54m	$582K	$289K	50x
Short	Gate AXS_USDT	1.0725	0.0100	get 0.0100% / 8h	1h 54m	$849K	$630K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → +0.031%: −$7.77
Slippage, 4 orders: −$324.12
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$358.89
Costs to cover: 3.511%
Break-even: never at this rate

Slippage from KuCoin: live order book, 65 min ago; Gate: live order book, 38 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 KuCoin live order book, 65 min ago	4.68 bp	96.4 bp −$96	543.2 bp −$5,432	doesn't fit	doesn't fit
Sell Gate live order book, 38 min ago	9.92 bp	88.8 bp −$89	365.3 bp −$3,653	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	−0.1014%	1h	1.0580	−1.398%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0053%	4h	1.0714	−0.149%	$279K	$30K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0749	+0.177%	$37K	$39K	5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0720	−0.093%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0736	+0.056%	$265K	$697K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0725	−0.047%	$73K	$18K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0725	−0.050%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0728	−0.019%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0718	−0.112%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDTshort	+0.0100%	8h	1.0725	−0.047%	$849K	$630K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0723	−0.065%	$11.5M	$677K	50x	as long as short
KuCoin AXSUSDTMlong	+0.0100%	4h	1.0730	long leg	$582K	$289K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0730	0.000%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0723	−0.065%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0732	+0.020%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0736	+0.057%	$765K	$902K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0718	−0.112%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0721	−0.084%	$764	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0719	−0.104%	$7K	$232K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0378%	1h	1.0733	+0.027%	$141K	$353K	20x	as long as short