Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.010%

Price spread now: QFEX against OKX+0.113%7-day average +0.090% · 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−$59as in the Price arb table

costs, in and out, $10k−$610.609% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.049%−$5 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.113%, 7d avg +0.090%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.022% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XLE-USDT-SWAP	62.220	0	get 0.0000% / 8h	6h 07m	$299K	$474K	20x
Short	QFEX XLE-USD	62.290	0.0040	get 0.0005% / 1h	7m 53s	$1.2M	$4.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.113%Rate

Funding earned: $8.43
Price spread: +0.113% → +0.090%: $2.24
Slippage, 4 orders: −$40.86
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$50.18
Costs to cover: 0.609%
Break-even: 48.7 days

Slippage from OKX: live order book, 41 min ago; QFEX: live order book, 4 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, 41 min ago	2.41 bp	16.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.41 bp	8.5 bp −$8	18.2 bp −$182	doesn't fit	doesn't fit

XLE on 16 exchanges

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	−0.0594%	8h	62.160	−0.096%	$831K	$829K	20x	as long as short
edgeX XLEUSDC	−0.0296%	4h	62.272	+0.084%	$48K	$208K	10x	as long as short
Aster XLEUSDT	0.0000%	8h	62.275	+0.088%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.280	+0.096%	$769K	$942K	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.220	0.000%	$313K	$202K	25x	as long as short
OKX XLE-USDT-SWAPlong	0.0000%	8h	62.220	long leg	$299K	$474K	20x
Gate XLE_USDT	0.0000%	8h	62.220	0.000%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.260	+0.064%	$222K	$89K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.240	+0.032%	$96K	$66K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.271	+0.082%	$44K	$13K	—	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.265	+0.072%	$13K	$143K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.281	+0.098%	$2K	$3.2M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.158	−0.100%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0001%	8h	62.230	+0.016%	$59K	$9K	20x	as long as short
QFEX XLE-USDshort	+0.0040%	1h	62.290	+0.113%	$1.2M	$4.1M	30x
tradeXYZ xyz:XLE	+0.0117%	1h	62.210	−0.016%	$2.4M	$3.9M	20x	as long as short