Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0809%/8h= −88.6% APRpaid last 24h −0.061%

Price spread now: edgeX against OKX+0.092%111s7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.770% of the position

Long on OKX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.092%, 7d avg +0.074%

Together, before fees+0.069%+ Points / potential airdropedgeX: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: −$24 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.201%, so the current rate has only just turned against you. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.201% in total (about 10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XLE-USDT-SWAP	62.720	0	get 0.0000% / 8h	1h 49m	$301K	$576K	20x
Short	edgeX XLEUSDC	62.778	−0.0809	pay 0.0404% / 4h	1h 49m	$48K	$208K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$169.85
Price spread: +0.092% → +0.074%: $1.77
Slippage, 4 orders: −$57.95
Fee OKX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$245.03
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from OKX: live order book, 56 min ago; edgeX: live order book, 57 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, 56 min ago	8.79 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 57 min ago	10.37 bp	17.6 bp −$18	doesn't fit	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 XLEUSDCshort	−0.0809%	4h	62.778	+0.092%	$48K	$208K	10x
KuCoin XLEUSDTM	−0.0218%	8h	62.600	−0.191%	$806K	$690K	20x	as long as short
BloFin XLE-USDT	−0.0013%	8h	62.760	+0.064%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.781	+0.097%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.750	+0.048%	$794K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.770	+0.080%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.720	long leg	$301K	$576K	20x
Gate XLE_USDT	0.0000%	8h	62.700	−0.032%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.730	+0.016%	$220K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.750	+0.048%	$95K	$87K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	62.760	+0.063%	$44K	$15K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.772	+0.084%	$13K	$170K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.755	+0.056%	$1K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.685	−0.056%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0031%	1h	62.710	−0.016%	$1.2M	$4.1M	30x	as long as short
tradeXYZ xyz:XLE	+0.0080%	1h	62.705	−0.024%	$2.4M	$3.8M	20x	as long as short