Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Binance−0.080%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1361.362% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.623%+$62 on $10k

Price spread, last 4 days (all we have)−0.168%−$17 · spread now −0.080%, 7d avg −0.054%

Together, before fees+0.455%+$45 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 0.026% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.280	0	get 0.0000% / 8h	7h 03m	$773K	$958K	20x
Short	Bybit XLEUSDT	62.230	0	get 0.0000% / 8h	7h 03m	$316K	$204K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.054%: −$2.64
Slippage, 4 orders: −$115.16
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$138.8
Costs to cover: 1.362%
Break-even: never at this rate

Slippage from Binance: live order book, 44 min ago; Bybit: live order book, 21 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, 44 min ago	1.59 bp	9.5 bp −$9	60.1 bp −$601	doesn't fit	doesn't fit
Sell Bybit live order book, 21 min ago	3.99 bp	74.5 bp −$74	215.3 bp −$2,153	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	−0.0355%	8h	62.220	−0.096%	$831K	$825K	20x	as long as short
edgeX XLEUSDC	−0.0030%	4h	62.285	+0.008%	$48K	$209K	10x	as long as short
Aster XLEUSDT	0.0000%	8h	62.281	+0.002%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.280	long leg	$773K	$958K	20x
Bybit XLEUSDTshort	0.0000%	8h	62.230	−0.080%	$316K	$204K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.280	0.000%	$299K	$477K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.250	−0.048%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.260	−0.032%	$217K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.270	−0.016%	$96K	$66K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.245	−0.057%	$44K	$13K	—	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	62.282	+0.003%	$1K	$3.4M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.147	−0.214%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0018%	8h	62.290	+0.016%	$58K	$9K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0040%	8h	62.307	+0.044%	$13K	$151K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.231	−0.079%	$2.4M	$3.9M	20x	as long as short
QFEX XLE-USD	+0.0060%	1h	62.260	−0.032%	$1.2M	$4.1M	30x	as long as short