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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC+0.085%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

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

costs, in and out, $10k−$560.563% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.120%−$12 · spread now +0.085%, 7d avg +0.006%

Together, before fees−0.105%−$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: Bitget is 0.079% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0591	0.0100	pay 0.0050% / 4h	2h 05m	$11.1M	$764K	50x
Short	Bitget AXSUSDT	1.0600	0.0100	get 0.0050% / 4h	2h 05m	$3.1M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.006%: $7.87
Slippage, 4 orders: −$40.29
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.42
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Bitget: live order book, 2 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, 3 min ago	0.94 bp	5.1 bp −$5	26.3 bp −$263	53.0 bp −$5,295	97.5 bp −$48.8K
Sell Bitget live order book, 2 min ago	4.71 bp	28.0 bp −$28	59.8 bp −$598	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
Kraken Futures PF_AXSUSD	−0.0339%	1h	1.0609	+0.166%	$138K	$322K	20x	as long as short
OKX AXS-USDT-SWAP	+0.0008%	4h	1.0593	+0.019%	$1.4M	$2.7M	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+1.218%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0073%	4h	1.0600	+0.085%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0614	+0.217%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0596	+0.046%	$260K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0596	+0.043%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0596	+0.050%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0589	−0.019%	$3.1M	$3.6M	75x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0607	+0.151%	$956K	$1.0M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDTlong	+0.0100%	4h	1.0591	long leg	$11.1M	$764K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0600	+0.085%	$582K	$294K	50x	as long as short
Bitget AXSUSDTshort	+0.0100%	4h	1.0600	+0.085%	$3.1M	$1.2M	50x
BingX AXS-USDT	+0.0100%	4h	1.0588	−0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0610	+0.177%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0620	+0.276%	$758K	$907K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0592	+0.009%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0592	+0.009%	$696	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0589	−0.023%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0145%	4h	1.0613	+0.208%	$272K	$29K	75x	as long as short