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: Bitget against OKX+0.080%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$960.964% of the position

Long on OKX Short on Bitget

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)−0.033%−$3 · spread now +0.080%, 7d avg +0.028%

Together, before fees−0.062%−$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: Bitget is 0.052% dearer against OKX than usual: you sell high and buy low, +$5 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	OKX XLE-USDT-SWAP	62.530	0	get 0.0000% / 8h	7h 36m	$299K	$567K	20x
Short	Bitget XLEUSDT	62.580	0	get 0.0000% / 8h	7h 36m	$94K	$98K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.028%: $5.24
Slippage, 4 orders: −$74.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$91.12
Costs to cover: 0.964%
Break-even: never at this rate

Slippage from OKX: live order book, 34 min ago; Bitget: live order book, 28 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 OKX live order book, 34 min ago	4.81 bp	22.0 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 28 min ago	8.00 bp	35.9 bp −$36	41.6 bp −$416	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	−0.0172%	8h	62.480	−0.080%	$783K	$605K	20x	as long as short
BloFin XLE-USDT	−0.0011%	8h	62.450	−0.128%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.573	+0.068%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.595	+0.104%	$797K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.560	+0.048%	$324K	$210K	25x	as long as short
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.530	long leg	$299K	$567K	20x
Gate XLE_USDT	0.0000%	8h	62.530	0.000%	$61K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	+0.048%	$219K	$101K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.580	+0.080%	$94K	$98K	20x
Variational Omni XLE	0.0000%	8h	62.630	+0.160%	$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	62.602	+0.115%	$2K	$5.3M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.633	+0.165%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.560	+0.048%	$1.2M	$6.0M	30x	as long as short
tradeXYZ xyz:XLE	+0.0439%	1h	62.512	−0.029%	$2.4M	$3.9M	20x	as long as short
edgeX XLEUSDC	+0.0831%	4h	62.625	+0.153%	$48K	$210K	10x	as long as short
GRVT XLE_USDT_Perp	+0.1104%	8h	62.620	+0.144%	$14K	$178K	10x	as long as short