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 −0.582%

Price spread now: Binance against Bitget+0.078%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1241.244% of the position

Long on Bitget Short on Binance

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)+0.068%+$7 · spread now +0.078%, 7d avg +0.048%

Together, before fees−0.533%−$53 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: Binance is 0.031% dearer against Bitget than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XLEUSDT	62.610	0	get 0.0000% / 8h	2h 29m	$100K	$166K	20x
Short	Binance XLEUSDT	62.659	0	get 0.0000% / 8h	2h 29m	$803K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.078%Rate

Funding earned: $0
Price spread: +0.078% → +0.048%: $3.05
Slippage, 4 orders: −$102.38
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$121.33
Costs to cover: 1.244%
Break-even: never at this rate

Slippage from Bitget: live order book, 53 min ago; Binance: 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 Bitget live order book, 53 min ago	3.99 bp	31.8 bp −$32	44.7 bp −$447	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	3.99 bp	14.3 bp −$14	65.3 bp −$653	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
BloFin XLE-USDT	−0.0003%	8h	62.590	−0.032%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.621	+0.018%	$4K	$9K	20x	as long as short
Binance XLEUSDTshort	0.0000%	8h	62.659	+0.078%	$803K	$1.9M	20x
Bybit XLEUSDT	0.0000%	8h	62.600	−0.016%	$333K	$280K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.620	+0.016%	$299K	$692K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.590	−0.032%	$61K	$24K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.630	+0.032%	$219K	$116K	20x	as long as short
Bitget XLEUSDTlong	0.0000%	8h	62.610	long leg	$100K	$166K	20x
Variational Omni XLE	0.0000%	8h	62.617	+0.011%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.653	+0.069%	$1K	$7.1M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX XLE-USDT	0.0000%	8h	62.502	−0.172%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0038%	1h	62.640	+0.048%	$1.3M	$4.9M	30x	as long as short
tradeXYZ xyz:XLE	+0.0054%	1h	62.610	0.000%	$2.4M	$4.0M	20x	as long as short
KuCoin XLEUSDTM	+0.0100%	8h	62.590	−0.032%	$770K	$580K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0257%	8h	62.629	+0.031%	$13K	$196K	10x	as long as short
edgeX XLEUSDC	+0.0651%	4h	62.617	+0.011%	$48K	$212K	10x	as long as short