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: Bybit against OKX+0.064%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$840.840% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.064%, 7d avg +0.033%

Together, before fees−0.070%−$7 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: Bybit is 0.031% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XLE-USDT-SWAP	62.500	0	get 0.0000% / 8h	7h 47m	$299K	$574K	20x
Short	Bybit XLEUSDT	62.540	0	get 0.0000% / 8h	7h 47m	$324K	$211K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.064%Rate

Funding earned: $0
Price spread: +0.064% → +0.033%: $3.1
Slippage, 4 orders: −$63.01
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$80.91
Costs to cover: 0.840%
Break-even: never at this rate

Slippage from OKX: live order book, 24 min ago; Bybit: live order book, 17 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, 24 min ago	4.81 bp	22.0 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 17 min ago	3.20 bp	38.7 bp −$39	201.1 bp −$2,011	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	−0.0580%	4h	62.562	+0.099%	$48K	$211K	10x	as long as short
KuCoin XLEUSDTM	−0.0190%	8h	62.420	−0.128%	$782K	$600K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.508	+0.014%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.615	+0.185%	$800K	$1.2M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.540	+0.064%	$324K	$211K	25x
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.500	long leg	$299K	$574K	20x
Gate XLE_USDT	0.0000%	8h	62.530	+0.048%	$61K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	+0.096%	$219K	$100K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.590	+0.144%	$94K	$99K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.550	+0.080%	$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	62.611	+0.178%	$2K	$5.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.593	+0.149%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0020%	8h	62.370	−0.208%	$57K	$9K	20x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.590	+0.144%	$1.2M	$5.9M	30x	as long as short
tradeXYZ xyz:XLE	+0.0376%	1h	62.558	+0.093%	$2.4M	$3.9M	20x	as long as short
GRVT XLE_USDT_Perp	+0.0392%	8h	62.554	+0.086%	$13K	$178K	10x	as long as short