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: OKX against MEXC−0.028%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

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

costs, in and out, $10k−$540.536% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.142%−$14 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.028%, 7d avg +0.014%

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: OKX is 0.042% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0689	0.0100	pay 0.0050% / 4h	2h 15m	$11.4M	$728K	50x
Short	OKX AXS-USDT-SWAP	1.0686	0.0100	get 0.0050% / 4h	2h 15m	$1.4M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → +0.014%: −$4.16
Slippage, 4 orders: −$39.56
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$57.72
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; OKX: 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	0.47 bp	11.4 bp −$11	36.7 bp −$367	58.5 bp −$5,854	109.9 bp −$55.0K
Sell OKX live order book, 1 min ago	2.34 bp	18.7 bp −$19	doesn't fit	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	+0.290%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0079%	4h	1.0690	+0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0719	+0.281%	$33K	$41K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0698	+0.086%	$258K	$314K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0696	+0.068%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0691	+0.019%	$6.0M	$10.1M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0699	+0.094%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAPshort	+0.0100%	4h	1.0686	−0.028%	$1.4M	$2.9M	20x
Gate AXS_USDT	+0.0100%	8h	1.0686	−0.028%	$851K	$996K	50x	as long as short
MEXC AXS_USDTlong	+0.0100%	4h	1.0689	long leg	$11.4M	$728K	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0700	+0.103%	$600K	$304K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0700	+0.103%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0694	+0.047%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0700	+0.103%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0710	+0.196%	$759K	$909K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0696	+0.065%	$1K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0694	+0.047%	$719	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0691	+0.022%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0358%	1h	1.0709	+0.187%	$144K	$335K	20x	as long as short