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: SunX against MEXC+0.065%7-day average +0.027% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.019%+$2 · spread now +0.065%, 7d avg +0.027%

Together, before fees+0.034%+$3 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: SunX is 0.038% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AXS_USDT	1.0807	0.0100	pay 0.0050% / 4h	41m 59s	$11.5M	$745K	50x
Short	SunX AXS-USDT	1.0814	0.0100	get 0.0050% / 4h	41m 59s	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → +0.027%: $3.79
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$8.21
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; SunX: live order book, 2 min ago. Net counts fees only.

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	1.85 bp	4.9 bp −$5	26.3 bp −$263	60.0 bp −$6,004	107.6 bp −$53.8K
Sell SunX live order book, 2 min ago	497.46 bp	doesn't fit	doesn't fit	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	−0.0238%	1h	1.0821	+0.128%	$141K	$311K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.805%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0078%	4h	1.0810	+0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0831	+0.222%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0812	+0.046%	$265K	$298K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0810	+0.028%	$75K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0810	+0.028%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0820	+0.120%	$3.7M	$4.0M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0807	0.000%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0820	+0.120%	$974K	$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	1.0807	long leg	$11.5M	$745K	50x
KuCoin AXSUSDTM	+0.0100%	4h	1.0820	+0.120%	$614K	$307K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0820	+0.120%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0819	+0.111%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0848	+0.381%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0830	+0.209%	$769K	$890K	10x	as long as short
SunX AXS-USDTshort	+0.0100%	4h	1.0814	+0.065%	$1K	$1.3M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0808	+0.009%	$714	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0805	−0.019%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0112%	4h	1.0817	+0.093%	$275K	$17K	75x	as long as short