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% APRpaid last 24h 0.000%

Price spread now: Gate against MEXC−0.019%7-day average +0.056% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$199as in the Price arb table

costs, in and out, $10k−$1921.919% of the position

Long on MEXC Short on Gate

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)+0.089%+$9 · spread now −0.019%, 7d avg +0.056%

Together, before fees+0.104%+$10 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: Gate is 0.075% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0593	0.0100	pay 0.0050% / 4h	2h 00m	$11.1M	$765K	50x
Short	Gate AXS_USDT	1.0591	0.0100	get 0.0100% / 8h	2h 00m	$955K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.056%: −$7.49
Slippage, 4 orders: −$172.94
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$199.43
Costs to cover: 1.919%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Gate: 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 MEXC live order book, 2 min ago	1.42 bp	5.1 bp −$5	17.0 bp −$170	53.1 bp −$5,305	83.6 bp −$41.8K
Sell Gate live order book, 1 min ago	11.79 bp	99.2 bp −$99	265.2 bp −$2,652	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	1.0608	+0.143%	$138K	$321K	20x	as long as short
OKX AXS-USDT-SWAP	+0.0015%	4h	1.0602	+0.085%	$1.4M	$2.7M	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+1.199%	$5	$47K	5.5x	as long as short
BloFin AXS-USDT	+0.0051%	4h	1.0588	−0.047%	$272K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0073%	4h	1.0590	−0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0615	+0.208%	$28K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0598	+0.047%	$260K	$293K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0594	+0.012%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0595	+0.016%	$5.9M	$9.3M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0594	+0.009%	$3.1M	$3.6M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AXS_USDTshort	+0.0100%	8h	1.0591	−0.019%	$955K	$1.0M	50x
MEXC AXS_USDTlong	+0.0100%	4h	1.0593	long leg	$11.1M	$765K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0600	+0.066%	$582K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0590	−0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0592	−0.009%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0589	−0.042%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0599	+0.052%	$756K	$888K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0598	+0.047%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0595	+0.019%	$694	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0593	+0.005%	$7K	$156K	10x	as long as short