Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Hyperliquid against SoDEX+0.019%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AXS-USD	1.0627	0.0100	pay 0.0013% / 1h	34m 45s	$775	$3K	5x
Short	Hyperliquid AXS	1.0629	0.0100	get 0.0013% / 1h	34m 45s	$254K	$705K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SoDEX. 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 SoDEXbpFee HyperliquidbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → 0.000%: $1.88
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$15.12
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Hyperliquid: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 5 min ago	1.41 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit

SoDEX: 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	1.0580	−0.442%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0094%	4h	1.0630	+0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0654	+0.254%	$36K	$42K	5x	as long as short
Hyperliquid AXSshort	+0.0100%	1h	1.0629	+0.019%	$254K	$705K	5x
Aster AXSUSDT	+0.0100%	4h	1.0635	+0.072%	$72K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0627	+0.003%	$5.9M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0634	+0.066%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0623	−0.038%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0638	+0.104%	$841K	$524K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0627	0.000%	$11.5M	$707K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0630	+0.028%	$586K	$278K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0630	+0.028%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0634	+0.066%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0638	+0.101%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0650	+0.216%	$762K	$852K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0622	−0.047%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USDlong	+0.0100%	1h	1.0627	long leg	$775	$3K	5x
Extended AXS-USD	+0.0104%	1h	1.0623	−0.035%	$9K	$250K	10x	as long as short
BloFin AXS-USDT	+0.0114%	4h	1.0627	0.000%	$280K	$29K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0467%	1h	1.0649	+0.205%	$145K	$339K	20x	as long as short