Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.042%

Price spread now: OKX against Bitget−0.128%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1511.509% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.128%, 7d avg −0.025%

Together, before fees+0.048%+$5 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 0.102% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XLEUSDT	62.600	0	get 0.0000% / 8h	2h 11m	$100K	$166K	20x
Short	OKX XLE-USDT-SWAP	62.520	0	get 0.0000% / 8h	2h 11m	$298K	$691K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.025%: −$10.24
Slippage, 4 orders: −$128.9
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$161.15
Costs to cover: 1.509%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; OKX: live order book, 10 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 Bitget live order book, 3 min ago	4.79 bp	38.9 bp −$39	49.5 bp −$495	doesn't fit	doesn't fit
Sell OKX live order book, 10 min ago	8.78 bp	29.7 bp −$30	279.8 bp −$2,798	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
edgeX XLEUSDC	−0.0979%	4h	62.657	+0.091%	$48K	$212K	10x	as long as short
BloFin XLE-USDT	−0.0003%	8h	62.570	−0.048%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.632	+0.051%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.622	+0.036%	$801K	$1.9M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.590	−0.016%	$332K	$280K	25x	as long as short
OKX XLE-USDT-SWAPshort	0.0000%	8h	62.520	−0.128%	$298K	$691K	20x
Gate XLE_USDT	0.0000%	8h	62.560	−0.064%	$61K	$24K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.600	0.000%	$219K	$117K	20x	as long as short
Bitget XLEUSDTlong	0.0000%	8h	62.600	long leg	$100K	$166K	20x
Variational Omni XLE	0.0000%	8h	62.657	+0.091%	$44K	$15K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.617	+0.027%	$1K	$7.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.597	−0.005%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0038%	1h	62.570	−0.048%	$1.3M	$5.0M	30x	as long as short
tradeXYZ xyz:XLE	+0.0070%	1h	62.523	−0.123%	$2.4M	$4.0M	20x	as long as short
KuCoin XLEUSDTM	+0.0100%	8h	62.540	−0.096%	$769K	$580K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0224%	8h	62.640	+0.065%	$13K	$196K	10x	as long as short