Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: KuCoin against Orderly0.000%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_AXS_USDC	1.0700	0.0100	pay 0.0050% / 4h	2h 46m	$3K	—	10x
Short	KuCoin AXSUSDTM	1.0700	0.0100	get 0.0050% / 4h	2h 46m	$596K	$283K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Orderly. 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 OrderlybpFee KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$18
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; KuCoin: live order book, 13 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 Orderly no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 13 min ago	4.68 bp	80.2 bp −$80	269.2 bp −$2,692	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.187%	$5	$47K	5.5x	as long as short
Lighter AXS	+0.0096%	1h	1.0726	+0.243%	$36K	$39K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0706	+0.056%	$260K	$309K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0703	+0.029%	$73K	$14K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0701	+0.013%	$6.1M	$10.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0701	+0.009%	$3.7M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0696	−0.037%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0699	−0.009%	$849K	$826K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0695	−0.047%	$11.5M	$663K	50x	as long as short
KuCoin AXSUSDTMshort	+0.0100%	4h	1.0700	0.000%	$596K	$283K	50x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AXSUSDT	+0.0100%	4h	1.0690	−0.093%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0697	−0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0704	+0.039%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0720	+0.186%	$770K	$894K	10x	as long as short
Orderly PERP_AXS_USDClong	+0.0100%	4h	1.0700	long leg	$3K	—	10x
SunX AXS-USDT	+0.0100%	4h	1.0705	+0.047%	$2K	$1.4M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0701	+0.009%	$759	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0699	−0.012%	$7K	$223K	10x	as long as short
BloFin AXS-USDT	+0.0138%	4h	1.0698	−0.019%	$277K	$28K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0413%	1h	1.0709	+0.083%	$140K	$346K	20x	as long as short