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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: BingX against MEXC0.000%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.036%+$4 · spread now 0.000%, 7d avg +0.024%

Together, before fees+0.086%+$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: BingX is 0.024% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0691	0.0100	pay 0.0050% / 4h	1h 00m	$11.5M	$698K	50x
Short	BingX AXS-USDT	1.0691	0.0100	get 0.0050% / 4h	1h 00m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.024%: −$2.37
Slippage, 4 orders: −$31.54
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.91
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; BingX: live order book, 4 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 MEXC live order book, 2 min ago	0.47 bp	4.8 bp −$5	21.7 bp −$217	56.2 bp −$5,617	100.0 bp −$50.0K
Sell BingX live order book, 4 min ago	4.68 bp	21.5 bp −$22	48.4 bp −$484	308.1 bp −$30.8K	459.0 bp −$229.5K

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
Injective AXS/USDC PERP	−0.1014%	1h	1.0580	−1.038%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0091%	4h	1.0689	−0.019%	$279K	$30K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0690	−0.009%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0696	+0.047%	$259K	$703K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0692	+0.008%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0691	0.000%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0693	+0.019%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0690	−0.009%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0695	+0.037%	$846K	$631K	50x	as long as short
MEXC AXS_USDTlong	+0.0100%	4h	1.0691	long leg	$11.5M	$698K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0690	−0.009%	$586K	$289K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0690	−0.009%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0691	0.000%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0727	+0.338%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0699	+0.071%	$767K	$875K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0689	−0.019%	$953	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0692	+0.009%	$763	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0688	−0.025%	$7K	$238K	10x	as long as short
Lighter AXS	+0.0176%	1h	1.0722	+0.290%	$36K	$43K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0379%	1h	1.0706	+0.142%	$145K	$346K	20x	as long as short