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

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

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

Long on MEXC Short on KuCoin

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: KuCoin is 0.059% cheaper against MEXC than usual: you would sell low and buy high, −$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	MEXC AXS_USDT	1.0724	0.0100	pay 0.0050% / 4h	1h 51m	$11.4M	$705K	50x
Short	KuCoin AXSUSDTM	1.0720	0.0100	get 0.0050% / 4h	1h 51m	$601K	$302K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → +0.022%: −$5.88
Slippage, 4 orders: −$172.08
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$193.96
Costs to cover: 1.881%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; KuCoin: live order book, 47 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	4.4 bp −$4	22.8 bp −$228	65.6 bp −$6,560	103.0 bp −$51.5K
Sell KuCoin live order book, 47 min ago	4.69 bp	105.2 bp −$105	279.5 bp −$2,795	doesn't fit	doesn't fit

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	−0.037%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0087%	4h	1.0720	−0.037%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0748	+0.224%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0724	0.000%	$258K	$312K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0722	−0.023%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0722	−0.017%	$6.0M	$9.9M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0727	+0.028%	$3.8M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0727	+0.028%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0718	−0.056%	$854K	$951K	50x	as long as short
MEXC AXS_USDTlong	+0.0100%	4h	1.0724	long leg	$11.4M	$705K	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTMshort	+0.0100%	4h	1.0720	−0.037%	$601K	$302K	50x
Bitget AXSUSDT	+0.0100%	4h	1.0730	+0.056%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0716	−0.075%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0747	+0.217%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0700	−0.223%	$764K	$876K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0720	−0.037%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0720	−0.037%	$741	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0718	−0.056%	$7K	$245K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0361%	1h	1.0733	+0.081%	$145K	$337K	20x	as long as short