Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against KuCoin+0.037%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1881.881% of the position

Long on KuCoin 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)−0.050%−$5 · spread now +0.037%, 7d avg −0.022%

Together, before fees−0.065%−$6 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 0.059% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.022%.

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	1h 51m	$601K	$302K	50x
Short	MEXC AXS_USDT	1.0724	0.0100	get 0.0050% / 4h	1h 51m	$11.4M	$705K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.037%Rate

Funding earned: $0
Price spread: +0.037% → −0.022%: $5.88
Slippage, 4 orders: −$172.08
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$182.2
Costs to cover: 1.881%
Break-even: never at this rate

Slippage from KuCoin: live order book, 46 min ago; MEXC: live order book, 1 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, 46 min ago	4.69 bp	74.1 bp −$74	420.2 bp −$4,202	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.47 bp	4.4 bp −$4	15.1 bp −$151	42.8 bp −$4,285	87.7 bp −$43.9K

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	0.000%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0087%	4h	1.0720	0.000%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0748	+0.261%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0724	+0.037%	$258K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0722	+0.014%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0721	+0.013%	$6.0M	$9.9M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0727	+0.065%	$3.8M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0724	+0.037%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0718	−0.019%	$854K	$951K	50x	as long as short
MEXC AXS_USDTshort	+0.0100%	4h	1.0724	+0.037%	$11.4M	$705K	50x

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	$302K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0720	0.000%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0715	−0.047%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0747	+0.254%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0685	−0.329%	$763K	$876K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0720	0.000%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0720	0.000%	$741	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0718	−0.015%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0361%	1h	1.0733	+0.119%	$145K	$337K	20x	as long as short