Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0128%/8h= −14.1% APRpaid last 24h +0.035%

Price spread now: OKX against tradeXYZ+0.043%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.043%, 7d avg +0.011%

Together, before fees−0.089%+ Points / potential airdroptradeXYZ: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.032% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of +0.011%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.134% in total) that is about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.543	0.0128	pay 0.0016% / 1h	36m 53s	$2.4M	$3.9M	20x
Short	OKX XLE-USDT-SWAP	62.570	0	get 0.0000% / 8h	6h 36m	$299K	$566K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$26.97
Price spread: +0.043% → +0.011%: $3.17
Slippage, 4 orders: −$31.58
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$83.38
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; OKX: live order book, 29 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 tradeXYZ live order book, 11 min ago	2.64 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 29 min ago	5.60 bp	15.9 bp −$16	210.7 bp −$2,107	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	−0.0813%	4h	62.568	+0.039%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0207%	8h	62.400	−0.229%	$787K	$651K	20x	as long as short
BloFin XLE-USDT	−0.0018%	8h	62.510	−0.053%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.566	+0.037%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.585	+0.068%	$798K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.550	+0.011%	$323K	$208K	25x	as long as short
OKX XLE-USDT-SWAPshort	0.0000%	8h	62.570	+0.043%	$299K	$566K	20x
Gate XLE_USDT	0.0000%	8h	62.590	+0.075%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.580	+0.059%	$219K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.560	+0.027%	$95K	$90K	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	62.565	+0.036%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.576	+0.053%	$1K	$5.0M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.376	−0.267%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.560	+0.027%	$1.2M	$6.0M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0074%	8h	62.579	+0.057%	$13K	$175K	10x	as long as short
tradeXYZ xyz:XLElong	+0.0128%	1h	62.543	long leg	$2.4M	$3.9M	20x