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% APRpaid last 24h 0.000%

Price spread now: Bybit against MEXC+0.141%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 7 days−0.128%−$13 · spread now +0.141%, 7d avg +0.036%

Together, before fees−0.157%−$16 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: Bybit is 0.105% dearer against MEXC than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0657	0.0100	pay 0.0050% / 4h	2h 42m	$11.3M	$725K	50x
Short	Bybit AXSUSDT	1.0672	0.0100	get 0.0100% / 8h	6h 42m	$3.7M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.141%Rate

Funding earned: $0
Price spread: +0.141% → +0.036%: $10.48
Slippage, 4 orders: −$53.84
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.36
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Bybit: live order book, just now.

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, 1 min ago	1.88 bp	13.1 bp −$13	49.2 bp −$492	68.9 bp −$6,893	114.1 bp −$57.1K
Sell Bybit live order book, just now	2.34 bp	24.3 bp −$24	110.0 bp −$1,100	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	+0.0033%	1h	1.0720	+0.591%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0660	+0.028%	$3K	—	10x	as long as short
BloFin AXS-USDT	+0.0090%	4h	1.0691	+0.319%	$275K	$18K	75x	as long as short
Lighter AXS	+0.0096%	1h	1.0684	+0.253%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0671	+0.131%	$259K	$313K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0675	+0.170%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0660	+0.025%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0672	+0.141%	$3.7M	$4.2M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0666	+0.084%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0668	+0.103%	$851K	$992K	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	1.0657	long leg	$11.3M	$725K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0670	+0.122%	$601K	$312K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0670	+0.122%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0666	+0.084%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0674	+0.158%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0672	+0.144%	$762K	$904K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0666	+0.084%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0661	+0.038%	$709	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0658	+0.006%	$7K	$236K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0359%	1h	1.0673	+0.150%	$146K	$333K	20x	as long as short