Funding arb · Price arb /

AXS

all AXS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.024%

Price spread now: Injective against KuCoin0.000%55s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AXSUSDTM	1.0720	0.0100	pay 0.0050% / 4h	2h 18m	$601K	$304K	50x
Short	Injective AXS/USDC PERP	1.0720	0.0033	get 0.0004% / 1h	18m 17s	$5	$47K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$14
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$26.02
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 20 min ago; Injective: no order-book sample. Net counts fees only.

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, 20 min ago	4.69 bp	74.1 bp −$74	420.2 bp −$4,202	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPshort	+0.0033%	1h	1.0720	0.000%	$5	$47K	5.5x
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0710	−0.093%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0738	+0.168%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0712	−0.075%	$258K	$314K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0713	−0.061%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0713	−0.065%	$6.0M	$10.1M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0716	−0.037%	$3.8M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0714	−0.056%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0706	−0.131%	$853K	$995K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0706	−0.131%	$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 AXSUSDTMlong	+0.0100%	4h	1.0720	long leg	$601K	$304K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0710	−0.093%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0705	−0.140%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0731	+0.103%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0745	+0.231%	$762K	$920K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0703	−0.159%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0712	−0.075%	$718	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0711	−0.088%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0357%	1h	1.0722	+0.022%	$144K	$334K	20x	as long as short