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 +0.587%

Price spread now: Bitget against Binance−0.096%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$910.905% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.601%+$60 on $10k

Price spread, last 2 days (all we have)−0.046%−$5 · spread now −0.096%, 7d avg −0.049%

Together, before fees+0.555%+$56 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 0.047% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.530	0	get 0.0000% / 8h	52m 25s	$798K	$1.7M	20x
Short	Bitget XLEUSDT	62.470	0	get 0.0000% / 8h	52m 25s	$94K	$164K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.049%: −$4.67
Slippage, 4 orders: −$68.52
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$95.19
Costs to cover: 0.905%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Bitget: live order book, 17 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 Binance live order book, 11 min ago	2.40 bp	12.5 bp −$13	60.1 bp −$601	doesn't fit	doesn't fit
Sell Bitget live order book, 17 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	−0.0051%	4h	62.521	−0.015%	$48K	$210K	10x	as long as short
BloFin XLE-USDT	−0.0014%	8h	62.390	−0.224%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.506	−0.038%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.530	long leg	$798K	$1.7M	20x
Bybit XLEUSDT	0.0000%	8h	62.480	−0.080%	$326K	$271K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.440	−0.144%	$298K	$654K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.510	−0.032%	$61K	$15K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.520	−0.016%	$219K	$110K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.470	−0.096%	$94K	$164K	20x
Variational Omni XLE	0.0000%	8h	62.501	−0.047%	$44K	$15K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.526	−0.007%	$1K	$6.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.479	−0.082%	$5K	$34K	10x	as long as short
KuCoin XLEUSDTM	+0.0015%	8h	62.380	−0.240%	$773K	$615K	20x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.500	−0.048%	$1.3M	$5.5M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0065%	8h	62.519	−0.018%	$13K	$189K	10x	as long as short
tradeXYZ xyz:XLE	+0.0224%	1h	62.463	−0.107%	$2.4M	$4.0M	20x	as long as short