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 +0.005%

Price spread now: BingX against OKX+0.056%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$750.747% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.192%+$19 on $10k

Price spread, last 7 days−0.066%−$7 · spread now +0.056%, 7d avg +0.010%

Together, before fees+0.126%+$13 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: BingX is 0.046% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AXS-USDT-SWAP	1.0771	0.0100	pay 0.0050% / 4h	3h 28m	$1.4M	$3.0M	20x
Short	BingX AXS-USDT	1.0777	0.0100	get 0.0050% / 4h	3h 28m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.010%: $4.56
Slippage, 4 orders: −$54.73
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$70.17
Costs to cover: 0.747%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; BingX: live order book, 6 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 OKX live order book, 3 min ago	2.32 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	4.18 bp	17.0 bp −$17	42.0 bp −$420	275.1 bp −$27.5K	422.2 bp −$211.1K

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	−0.0260%	1h	1.0786	+0.137%	$145K	$324K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.473%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0081%	4h	1.0770	−0.009%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0796	+0.232%	$29K	$36K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0773	+0.019%	$269K	$306K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0775	+0.033%	$74K	$12K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0777	+0.054%	$6.1M	$9.6M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0781	+0.093%	$3.7M	$4.1M	75x	as long as short
OKX AXS-USDT-SWAPlong	+0.0100%	4h	1.0771	long leg	$1.4M	$3.0M	20x
Gate AXS_USDT	+0.0100%	8h	1.0781	+0.093%	$971K	$904K	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_USDT	+0.0100%	4h	1.0776	+0.046%	$11.4M	$743K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0780	+0.084%	$624K	$308K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0780	+0.084%	$3.2M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0777	+0.056%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0774	+0.026%	$37K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0770	−0.009%	$764K	$891K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0779	+0.074%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0771	0.000%	$720	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0770	−0.014%	$7K	$260K	10x	as long as short
BloFin AXS-USDT	+0.0152%	4h	1.0764	−0.065%	$277K	$17K	75x	as long as short