Funding arb · Price arb /

XLE

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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 0.000%

Price spread now: OKX against Binance−0.036%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

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

costs, in and out, $10k−$750.748% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.630%+$63 on $10k

Price spread, last 4 days (all we have)−0.228%−$23 · spread now −0.036%, 7d avg −0.086%

Together, before fees+0.402%+$40 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: OKX is 0.050% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.482	0	get 0.0000% / 8h	4h 17m	$793K	$1.0M	20x
Short	OKX XLE-USDT-SWAP	62.460	0	get 0.0000% / 8h	4h 17m	$300K	$558K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.086%: $5.05
Slippage, 4 orders: −$54.76
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$69.71
Costs to cover: 0.748%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; OKX: live order book, 38 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 Binance live order book, 15 min ago	1.60 bp	17.3 bp −$17	81.3 bp −$813	doesn't fit	doesn't fit
Sell OKX live order book, 38 min ago	4.00 bp	29.6 bp −$30	250.4 bp −$2,504	doesn't fit	doesn't fit

XLE on 16 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
KuCoin XLEUSDTM	−0.0238%	8h	62.330	−0.244%	$789K	$643K	20x	as long as short
BloFin XLE-USDT	−0.0011%	8h	62.460	−0.036%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.469	−0.021%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.482	long leg	$793K	$1.0M	20x
Bybit XLEUSDT	0.0000%	8h	62.470	−0.020%	$322K	$200K	25x	as long as short
OKX XLE-USDT-SWAPshort	0.0000%	8h	62.460	−0.036%	$300K	$558K	20x
Gate XLE_USDT	0.0000%	8h	62.460	−0.036%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.460	−0.036%	$219K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.460	−0.036%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.493	+0.018%	$44K	$14K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.487	+0.008%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.471	−0.018%	$1K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.547	+0.104%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0002%	1h	62.480	−0.004%	$1.2M	$4.4M	30x	as long as short
tradeXYZ xyz:XLE	+0.0103%	1h	62.429	−0.085%	$2.4M	$3.8M	20x	as long as short
edgeX XLEUSDC	+0.0678%	4h	62.491	+0.014%	$48K	$209K	10x	as long as short