Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.008%

Price spread now: QFEX against OKX+0.016%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1691.689% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.050%−$5 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.016%, 7d avg +0.092%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.076% cheaper against OKX than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.092%). If the spread goes back, that is −$8 on $10k: about 8.3 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.050%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XLE-USDT-SWAP	62.710	0	get 0.0000% / 8h	1h 00m	$301K	$569K	20x
Short	QFEX XLE-USD	62.720	0.0031	get 0.0004% / 1h	0m 59s	$1.2M	$4.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $6.43
Price spread: +0.016% → +0.092%: −$7.63
Slippage, 4 orders: −$148.93
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$170.12
Costs to cover: 1.689%
Break-even: 192.1 days

Slippage from OKX: live order book, 40 min ago; QFEX: live order book, 8 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, 40 min ago	6.38 bp	21.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	29.48 bp	60.3 bp −$60	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
KuCoin XLEUSDTM	−0.0248%	8h	62.580	−0.207%	$808K	$691K	20x	as long as short
edgeX XLEUSDC	−0.0092%	4h	62.750	+0.063%	$48K	$209K	10x	as long as short
Aster XLEUSDT	0.0000%	8h	62.720	+0.015%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.751	+0.065%	$794K	$985K	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.700	−0.016%	$323K	$202K	25x	as long as short
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.710	long leg	$301K	$569K	20x
Gate XLE_USDT	0.0000%	8h	62.700	−0.016%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.720	+0.016%	$220K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.730	+0.032%	$95K	$87K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.765	+0.087%	$44K	$15K	—	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	62.734	+0.038%	$13K	$165K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.746	+0.057%	$1K	$4.2M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.648	−0.099%	$5K	$36K	10x	as long as short
BloFin XLE-USDT	+0.0028%	8h	62.740	+0.048%	$58K	$9K	20x	as long as short
QFEX XLE-USDshort	+0.0031%	1h	62.720	+0.016%	$1.2M	$4.0M	30x
tradeXYZ xyz:XLE	+0.0050%	1h	62.676	−0.054%	$2.4M	$3.8M	20x	as long as short