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: OKX against Bitget−0.048%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$930.931% of the position

Long on Bitget Short on OKX

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)+0.001%$0 · spread now −0.048%, 7d avg −0.028%

Together, before fees+0.030%+$3 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: OKX is 0.020% cheaper against Bitget than usual: you would sell low and buy high, −$2 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	Bitget XLEUSDT	62.560	0	get 0.0000% / 8h	6h 58m	$94K	$90K	20x
Short	OKX XLE-USDT-SWAP	62.530	0	get 0.0000% / 8h	6h 58m	$299K	$563K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.028%: −$2.04
Slippage, 4 orders: −$71.07
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.12
Costs to cover: 0.931%
Break-even: never at this rate

Slippage from Bitget: live order book, 66 min ago; OKX: live order book, 7 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 Bitget live order book, 66 min ago	8.00 bp	24.8 bp −$25	39.3 bp −$393	doesn't fit	doesn't fit
Sell OKX live order book, 7 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	−0.0674%	4h	62.589	+0.047%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0164%	8h	62.430	−0.208%	$779K	$639K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.573	+0.021%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.570	+0.016%	$797K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.550	−0.016%	$324K	$208K	25x	as long as short
OKX XLE-USDT-SWAPshort	0.0000%	8h	62.530	−0.048%	$299K	$563K	20x
Gate XLE_USDT	0.0000%	8h	62.580	+0.032%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	0.000%	$219K	$86K	20x	as long as short
Bitget XLEUSDTlong	0.0000%	8h	62.560	long leg	$94K	$90K	20x
Variational Omni XLE	0.0000%	8h	62.584	+0.038%	$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	62.591	+0.050%	$2K	$5.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.538	−0.035%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0003%	8h	62.530	−0.048%	$58K	$9K	20x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.530	−0.048%	$1.2M	$6.0M	30x	as long as short
tradeXYZ xyz:XLE	+0.0079%	1h	62.548	−0.019%	$2.4M	$3.9M	20x	as long as short
GRVT XLE_USDT_Perp	+0.0187%	8h	62.590	+0.048%	$13K	$175K	10x	as long as short