Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.007%

Price spread now: OKX against QFEX+0.016%7-day average −0.094% · 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−$103as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.125%−$12 · spread now +0.016%, 7d avg −0.094%

Together, before fees−0.073%−$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: OKX is 0.110% dearer against QFEX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	62.450	0.0002	pay 0.0000% / 1h	11m 22s	$1.2M	$4.4M	30x
Short	OKX XLE-USDT-SWAP	62.460	0	get 0.0000% / 8h	4h 11m	$300K	$558K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against QFEX. 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 QFEXbpFee OKXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$0.4
Price spread: +0.016% → −0.094%: $10.98
Slippage, 4 orders: −$94.34
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$103.76
Costs to cover: 1.143%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; OKX: live order book, 44 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 QFEX live order book, 7 min ago	26.42 bp	36.6 bp −$37	46.6 bp −$466	doesn't fit	doesn't fit
Sell OKX live order book, 44 min ago	4.00 bp	29.6 bp −$30	250.4 bp −$2,504	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	−0.0276%	8h	62.280	−0.272%	$790K	$642K	20x	as long as short
BloFin XLE-USDT	−0.0002%	8h	62.480	+0.048%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.447	−0.004%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.440	−0.016%	$793K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.450	0.000%	$322K	$200K	25x	as long as short
OKX XLE-USDT-SWAPshort	0.0000%	8h	62.460	+0.016%	$300K	$558K	20x
Gate XLE_USDT	0.0000%	8h	62.460	+0.016%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.470	+0.032%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.480	+0.048%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.464	+0.023%	$44K	$14K	—	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	62.490	+0.064%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.467	+0.027%	$2K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.316	−0.215%	$5K	$34K	10x	as long as short
QFEX XLE-USDlong	+0.0002%	1h	62.450	long leg	$1.2M	$4.4M	30x
edgeX XLEUSDC	+0.0086%	4h	62.461	+0.017%	$48K	$210K	10x	as long as short
tradeXYZ xyz:XLE	+0.0158%	1h	62.444	−0.010%	$2.4M	$3.8M	20x	as long as short