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 Bybit0.000%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1551.551% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now 0.000%, 7d avg −0.033%

Together, before fees−0.039%−$4 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 0.033% dearer against Bybit 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	Bybit XLEUSDT	62.440	0	get 0.0000% / 8h	5h 46m	$322K	$207K	25x
Short	OKX XLE-USDT-SWAP	62.440	0	get 0.0000% / 8h	5h 46m	$299K	$560K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.033%: $3.34
Slippage, 4 orders: −$134.06
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$151.72
Costs to cover: 1.551%
Break-even: never at this rate

Slippage from Bybit: live order book, 8 min ago; OKX: live order book, 14 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 Bybit live order book, 8 min ago	4.01 bp	19.3 bp −$19	201.9 bp −$2,019	doesn't fit	doesn't fit
Sell OKX live order book, 14 min ago	8.81 bp	31.0 bp −$31	263.3 bp −$2,633	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	−0.0290%	8h	62.320	−0.192%	$795K	$650K	20x	as long as short
edgeX XLEUSDC	−0.0253%	4h	62.444	+0.007%	$48K	$210K	10x	as long as short
BloFin XLE-USDT	−0.0029%	8h	62.440	0.000%	—	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.451	+0.017%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.463	+0.036%	$795K	$1.1M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.440	long leg	$322K	$207K	25x
OKX XLE-USDT-SWAPshort	0.0000%	8h	62.440	0.000%	$299K	$560K	20x
Gate XLE_USDT	0.0000%	8h	62.460	+0.032%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.460	+0.032%	$219K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.480	+0.064%	$95K	$85K	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	62.443	+0.005%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.470	+0.048%	$13K	$175K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.472	+0.051%	$2K	$4.8M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.503	+0.101%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.445	+0.008%	$2.4M	$3.8M	20x	as long as short
QFEX XLE-USD	+0.0057%	1h	62.470	+0.048%	$1.2M	$5.9M	30x	as long as short