Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.042%

Price spread now: Bitget against OKX+0.096%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$950.952% of the position

Long on OKX Short on Bitget

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)−0.038%−$4 · spread now +0.096%, 7d avg +0.027%

Together, before fees−0.067%−$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: Bitget is 0.069% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XLE-USDT-SWAP	62.440	0	get 0.0000% / 8h	40m 21s	$298K	$641K	20x
Short	Bitget XLEUSDT	62.500	0	get 0.0000% / 8h	40m 21s	$94K	$155K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → +0.027%: $6.92
Slippage, 4 orders: −$73.16
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$88.24
Costs to cover: 0.952%
Break-even: never at this rate

Slippage from OKX: live order book, 36 min ago; Bitget: 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 OKX live order book, 36 min ago	4.80 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 29 min ago	7.19 bp	41.4 bp −$41	47.2 bp −$472	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	−0.0449%	4h	62.547	+0.171%	$48K	$211K	10x	as long as short
KuCoin XLEUSDTM	−0.0028%	8h	62.390	−0.080%	$773K	$607K	20x	as long as short
BloFin XLE-USDT	−0.0001%	8h	62.450	+0.016%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.521	+0.130%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.547	+0.171%	$797K	$1.6M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.500	+0.096%	$325K	$263K	25x	as long as short
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.440	long leg	$298K	$641K	20x
Gate XLE_USDT	0.0000%	8h	62.530	+0.144%	$61K	$15K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.500	+0.096%	$219K	$110K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.500	+0.096%	$94K	$155K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	62.537	+0.156%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.551	+0.178%	$1K	$6.4M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.595	+0.248%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.470	+0.048%	$1.3M	$5.6M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0052%	8h	62.536	+0.154%	$13K	$186K	10x	as long as short
tradeXYZ xyz:XLE	+0.0201%	1h	62.468	+0.045%	$2.4M	$4.0M	20x	as long as short