Funding you earn now, next payment 16:00 UTC−0.0360%/8h= −39.4% APRnext payment −$3.60 per $10,000 · paid last 24h −0.042%
Price spread now: KuCoin against OKX+0.275%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$504as in the Funding arb table
Net, price: spread back to 7d avg − costs−$473as in the Price arb table
costs, in and out, $10k−$5025.018% of the position
Funding, last 7 days−0.022%−$2 on $10k
+Price spread, last 4 days (all we have)−0.259%−$26 · spread now +0.275%, 7d avg −0.014%
=The price spread pays, funding is against you. KuCoin is 0.288% dearer against OKX than usual: you sell high and buy low (spread +0.275% now, against its 7-day average of −0.014%): +$29 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.022% in total) that is about 3 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.022% in total (about -1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.60 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX XLE-USDT-SWAP | 61.880 | 0 | get 0.0000% / 8h | 5h 45m | $294K | $483K | 20x |
| Short | KuCoin XLEUSDTM | 62.050 | −0.0360 | pay 0.0360% / 8h | 5h 45m | $1.0M | $920K | 20x |
OKX XLE-USDT-SWAP
KuCoin XLEUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$75.6
- Price spread: +0.275% → −0.014%
- $28.83
- Slippage, 4 orders
- −$479.76
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$548.53
- Costs to cover
- 5.018%
- Break-even
- never at this rate
Slippage from OKX: live order book, 62 min ago; KuCoin: live order book, 61 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, 62 min ago | 2.41 bp | 16.5 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 61 min ago | 8.05 bp | 14.1 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
XLE on 16 exchanges
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 XLEUSDTMshort | −0.0360% | 8h | 62.050 | +0.275% | $1.0M | $920K | 20x | |
| edgeX XLEUSDC | −0.0147% | 4h | 61.925 | +0.072% | $48K | $208K | 10x | as long as short |
| BloFin XLE-USDT | −0.0005% | 8h | 61.890 | +0.016% | $59K | $10K | 20x | as long as short |
| Aster XLEUSDT | 0.0000% | 8h | 61.941 | +0.098% | $4K | $9K | 20x | as long as short |
| Binance XLEUSDT | 0.0000% | 8h | 61.942 | +0.099% | $772K | $1.0M | 20x | as long as short |
| Bybit XLEUSDT | 0.0000% | 8h | 61.880 | 0.000% | $309K | $216K | 25x | as long as short |
| OKX XLE-USDT-SWAPlong | 0.0000% | 8h | 61.880 | long leg | $294K | $483K | 20x | |
| Gate XLE_USDT | 0.0000% | 8h | 61.860 | −0.032% | $64K | $12K | 20x | as long as short |
| MEXC XLE_USDT | 0.0000% | 8h | 61.900 | +0.032% | $221K | $84K | 20x | as long as short |
| Bitget XLEUSDT | 0.0000% | 8h | 61.910 | +0.048% | $94K | $74K | 20x | as long as short |
edgeX XLEUSDC
BloFin XLE-USDT
Aster XLEUSDT
Binance XLEUSDT
Bybit XLEUSDT
Gate XLE_USDT
MEXC XLE_USDT
Bitget XLEUSDTShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni XLE | 0.0000% | 8h | 61.929 | +0.080% | $44K | $10K | — | as long as short |
| GRVT XLE_USDT_Perp | 0.0000% | 8h | 61.940 | +0.097% | $13K | $143K | 10x | as long as short |
| SunX XLE-USDT | 0.0000% | 8h | 61.937 | +0.092% | $2K | $3.1M | 10x | as long as short |
| HTX XLE-USDT | 0.0000% | 8h | 61.847 | −0.053% | $5K | $35K | 10x | as long as short |
| QFEX XLE-USD | +0.0058% | 1h | 61.920 | +0.065% | $1.2M | $4.1M | 30x | as long as short |
| tradeXYZ xyz:XLE | +0.0151% | 1h | 61.847 | −0.053% | $2.3M | $4.1M | 20x | as long as short |
Variational Omni XLE
GRVT XLE_USDT_Perp
SunX XLE-USDT
HTX XLE-USDT
QFEX XLE-USD
tradeXYZ xyz:XLE