Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0023%/8h= +2.6% APRpaid last 24h −0.069%

Price spread now: QFEX against BloFin+0.080%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.080% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XLE-USDT	62.470	0.0012	pay 0.0012% / 8h	1h 04m	$57K	$9K	20x
Short	QFEX XLE-USD	62.520	0.0035	get 0.0004% / 1h	4m 43s	$1.3M	$5.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against BloFin. 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 BloFinbpFee QFEXbpOrdersPrice spread, now +0.080%Rate

Funding earned: $4.89
Price spread: +0.080% → 0.000%: $8
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$9.1
Costs to cover: 0.220%
Break-even: 20.0 days

Slippage unknown: BloFin: no order-book sample; QFEX: live order book, 4 min ago. Net counts fees only.

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 BloFin no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	26.38 bp	32.9 bp −$33	38.1 bp −$381	doesn't fit	doesn't fit

BloFin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Aster XLEUSDT	0.0000%	8h	62.518	+0.077%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.530	+0.096%	$798K	$1.8M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.510	+0.064%	$328K	$269K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.460	−0.016%	$299K	$665K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.500	+0.048%	$61K	$21K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.500	+0.048%	$219K	$118K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.520	+0.080%	$94K	$157K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.547	+0.123%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.546	+0.122%	$1K	$6.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.540	+0.112%	$5K	$35K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XLE-USDTlong	+0.0012%	8h	62.470	long leg	$57K	$9K	20x
QFEX XLE-USDshort	+0.0035%	1h	62.520	+0.080%	$1.3M	$5.5M	30x
KuCoin XLEUSDTM	+0.0064%	8h	62.360	−0.176%	$771K	$620K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0088%	8h	62.534	+0.103%	$14K	$191K	10x	as long as short
tradeXYZ xyz:XLE	+0.0174%	1h	62.481	+0.018%	$2.4M	$4.0M	20x	as long as short
edgeX XLEUSDC	+0.0205%	4h	62.547	+0.124%	$48K	$210K	10x	as long as short