Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against SunX−0.028%7-day average +0.028% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.028%, 7d avg +0.028%

Together, before fees−0.063%−$6 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: Bybit is 0.056% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AXS-USDT	1.0544	0.0100	pay 0.0050% / 4h	50m 11s	$2K	$1.1M	20x
Short	Bybit AXSUSDT	1.0541	0.0100	get 0.0100% / 8h	4h 50m	$3.6M	$3.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpFee BybitbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → +0.028%: −$5.63
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.63
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; Bybit: 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 SunX live order book, 7 min ago	500.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.84 bp	26.4 bp −$26	96.8 bp −$968	doesn't fit	doesn't fit

AXS on 20 exchanges

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	+0.341%	$1K	$48K	5.5x	as long as short
BloFin AXS-USDT	+0.0052%	4h	1.0525	−0.180%	$288K	$29K	75x	as long as short
Orderly PERP_AXS_USDC	+0.0086%	4h	1.0540	−0.038%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0561	+0.161%	$36K	$39K	5x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0545	+0.009%	$249K	$659K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0544	+0.003%	$71K	$16K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0539	−0.047%	$5.9M	$8.8M	75x	as long as short
Bybit AXSUSDTshort	+0.0100%	8h	1.0541	−0.028%	$3.6M	$3.3M	75x
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0538	−0.057%	$1.4M	$2.6M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0536	−0.076%	$827K	$295K	50x	as long as short

Show all 20 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0544	0.000%	$11.3M	$596K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0540	−0.038%	$581K	$223K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0540	−0.038%	$3.1M	$914K	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0536	−0.076%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0530	−0.131%	$42K	$7K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0568	+0.225%	$752K	$793K	10x	as long as short
SunX AXS-USDTlong	+0.0100%	4h	1.0544	long leg	$2K	$1.1M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0546	+0.019%	$467	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0542	−0.015%	$7K	$254K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0387%	1h	1.0551	+0.069%	$144K	$324K	20x	as long as short