Live data
Axie Infinity (AXS) perpetual futures
Live funding rates, open interest, and measured trade costs for Axie Infinity. 6 venues in the PerpFinder venue map list AXS perps.
At a glance
This AXS funding snapshot covers 2 venues: Hyperliquid and dYdX. It is the server-rendered page seed, not the venue total; the live funding panel below covers every venue that lists AXS.
- Highest annualized funding
- +10.95%dYdX
- Lowest annualized funding
- +10.95%Hyperliquid
More
The highest listed annualized funding rate is +10.95% on dYdX, and the lowest is +10.95% on Hyperliquid.
Only Hyperliquid reports open interest of the 2 listed venues, so there is no executable spread.
Hyperliquid reports $249.9k of open interest across the venues in this snapshot that publish it.
The AXS price in this snapshot comes from Hyperliquid at $0.9557.
Generated from live venue feeds at
Funding rates
Annualized rates across exchanges
dYdXDEX
HyperliquidDEXOpen interest
Per-exchange open interest
HyperliquidLong/short ratio
Account-level positioning
Long/short ratios are published for BTC, ETH, SOL, and XRP only.
Cost comparison
Fee plus slippage for a $100K trade
The order-book cost engine measures BTC, ETH, SOL, XRP, BNB, DOGE and HYPE. AXS is not measured. Live costs for the measured assets are on the cost comparison tool.
Where to Trade Axie Infinity (AXS) Perpetual Futures
5 of the 6 venues that list AXS perps have a PerpFinder review page. The table compares fees, leverage, and features for those 5.
Market Overview
AXS perps provide derivative exposure to Axie Infinity's Sky Mavis ecosystem and the broader play-to-earn and blockchain gaming sector. AXS is the governance token of Axie Infinity. Its Ronin sidechain also hosts a growing portfolio of games and DeFi applications. The asset carries a distinct risk history — the Ronin bridge hack of March 2022 was the largest DeFi exploit on record at the time — and its perp market reflects that history through a persistent risk premium.
Venue structure and depth
The AXS perp market spans Binance, Bybit, OKX, and Hyperliquid. Binance carries the most AXS depth; DEX perp depth is minimal. Coinalyze's AXS open interest data shows OI that has declined substantially from the 2021 P2E peak but has stabilized as the Ronin ecosystem diversified beyond Axie Infinity.
Gaming cycle and P2E narrative sensitivity
AXS funding spikes follow blockchain gaming news cycles. A game studio integration or a large Axie Infinity content update pulls traders into long positions. The Ronin chain's expansion — new games launching on Ronin beyond Axie — has added secondary catalysts for AXS that did not exist in 2021.
Sky Mavis's development blog and CoinDesk's gaming coverage track upcoming launches. New Ronin ecosystem games reaching public release have become the clearest positive signal for AXS perp positioning.
Ronin bridge history and perp-specific risk
The March 2022 Ronin bridge hack, where attackers stole approximately $625 million in ETH and USDC via compromised validator keys, produced a sharp AXS perp delisting threat on several venues. The hack is documented in Sky Mavis's post-mortem. Since then, Ronin has restructured its validator set and implemented additional security measures, but the bridge risk remains a tail event that perp traders must factor into position sizing.
For AXS positions, isolated margin with conservative sizing is essential. Use the liquidations tracker to assess recent AXS cascade patterns. Compare fees across venues at the cost comparison tool.
Trading Tips for Axie Infinity Perps
AXS is a pure gaming sector beta play. When blockchain gaming user counts or NFT marketplace volumes tick up, AXS tends to lead the move. Pair trade AXS against other gaming tokens like GALA or IMX to isolate relative gaming ecosystem performance.
Frequently Asked Questions — Axie Infinity (AXS)
What is the current AXS perpetual futures funding rate?
The live Axie Infinity (AXS) funding-rate panel updates every 2 minutes. It shows annualized rates for each exchange that lists AXS perps. A positive rate means long traders pay short traders, while a negative rate means shorts pay longs.
Which exchange has the lowest AXS perp trading fees?
Among 4 tracked AXS venues with comparable order-book schedules, DESK lists the lowest taker fee at 0.017%. SynFutures lists 0.020%. 1 position-fee venue is excluded from this maker/taker result. Use the cost comparison for total cost.
How does Axie Infinity open interest compare across exchanges?
The Axie Infinity (AXS) open-interest chart shows the total value of outstanding AXS derivative contracts on each exchange. Rising open interest indicates new capital entering the market, while declining OI suggests positions are being closed.
What does the AXS long/short ratio indicate?
The Axie Infinity long/short ratio shows the balance between traders betting on price increases (longs) versus decreases (shorts) across exchanges. An extreme ratio in either direction can signal potential reversals as crowded positioning often leads to liquidation cascades.
Where can I trade AXS perpetual futures?
Axie Infinity (AXS) perps are listed on 5 exchanges: dYdX, Gains Network, SynFutures, DESK, and Aster. The "Where to Trade Axie Infinity (AXS) Perpetual Futures" section compares fees and leverage limits and gives a direct trading link for each venue.
Category: Gaming · Data updates every 2 minutes · All rates shown are annualized