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 buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$920.920% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$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+0.057%+$6 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 0.096% cheaper against OKX than usual: you would sell low and buy high, −$10 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	62.780	0	get 0.0000% / 8h	2h 11m	$302K	$577K	20x
Short	Bybit XLEUSDT	62.740	0	get 0.0000% / 8h	2h 11m	$323K	$202K	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%: −$9.63
Slippage, 4 orders: −$71.02
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$101.65
Costs to cover: 0.920%
Break-even: never at this rate

Slippage from OKX: live order book, 35 min ago; Bybit: live order book, 28 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, 35 min ago	8.79 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 28 min ago	2.39 bp	37.4 bp −$37	223.7 bp −$2,237	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	−0.0234%	8h	62.660	−0.191%	$805K	$676K	20x	as long as short
BloFin XLE-USDT	−0.0013%	8h	62.670	−0.175%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.724	−0.090%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.790	+0.016%	$796K	$1.0M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.740	−0.064%	$323K	$202K	25x
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.780	long leg	$302K	$577K	20x
Gate XLE_USDT	0.0000%	8h	62.690	−0.143%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.770	−0.016%	$220K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.740	−0.064%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.794	+0.022%	$44K	$15K	—	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	62.784	+0.006%	$13K	$173K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.816	+0.057%	$2K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.691	−0.142%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0040%	1h	62.740	−0.064%	$1.2M	$4.2M	30x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.690	−0.143%	$2.4M	$3.8M	20x	as long as short
edgeX XLEUSDC	+0.0419%	4h	62.810	+0.048%	$48K	$208K	10x	as long as short