Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.027%

Price spread now: tradeXYZ against Binance−0.057%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$680.681% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.765%+$77 on $10k

Price spread, last 2 days (all we have)−0.094%−$9 · spread now −0.057%, 7d avg −0.081%

Together, before fees+0.672%+ Points / potential airdroptradeXYZ: Active · farm board+$67 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.024% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.452	0	get 0.0000% / 8h	5h 52m	$796K	$1.1M	20x
Short	tradeXYZ xyz:XLE	62.416	0.0050	get 0.0006% / 1h	52m 04s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.057%Rate

Funding earned: $10.5
Price spread: −0.057% → −0.081%: $2.37
Slippage, 4 orders: −$40.09
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$55.22
Costs to cover: 0.681%
Break-even: 43.8 days

Slippage from Binance: live order book, 10 min ago; tradeXYZ: live order book, 6 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, 10 min ago	3.20 bp	13.5 bp −$13	71.1 bp −$711	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	5.61 bp	14.8 bp −$15	18.5 bp −$185	doesn't fit	doesn't fit

XLE on 15 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	−0.0271%	8h	62.280	−0.275%	$790K	$649K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.443	−0.013%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.452	long leg	$796K	$1.1M	20x
Bybit XLEUSDT	0.0000%	8h	62.440	−0.019%	$322K	$207K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.410	−0.067%	$299K	$559K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.440	−0.019%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.450	−0.003%	$219K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.480	+0.045%	$95K	$85K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.450	−0.003%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.480	+0.045%	$13K	$175K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.438	−0.022%	$2K	$4.8M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.541	+0.143%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLEshort	+0.0050%	1h	62.416	−0.057%	$2.4M	$3.8M	20x
QFEX XLE-USD	+0.0057%	1h	62.450	−0.003%	$1.2M	$5.9M	30x	as long as short
edgeX XLEUSDC	+0.0919%	4h	62.445	−0.011%	$48K	$209K	10x	as long as short