Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bybit+0.110%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1221.225% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 2 days (all we have)−0.002%$0 · spread now +0.110%, 7d avg +0.051%

Together, before fees−0.625%−$63 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 0.060% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.460	0	get 0.0000% / 8h	6h 21m	$322K	$207K	25x
Short	Binance XLEUSDT	62.529	0	get 0.0000% / 8h	6h 21m	$798K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.110%Rate

Funding earned: $0
Price spread: +0.110% → +0.051%: $5.99
Slippage, 4 orders: −$101.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$116.46
Costs to cover: 1.225%
Break-even: never at this rate

Slippage from Bybit: live order book, 38 min ago; Binance: live order book, 11 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 Bybit live order book, 38 min ago	3.20 bp	13.0 bp −$13	189.0 bp −$1,890	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	2.40 bp	14.7 bp −$15	70.6 bp −$706	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
edgeX XLEUSDC	−0.0544%	4h	62.580	+0.193%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0187%	8h	62.410	−0.080%	$788K	$651K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.446	−0.023%	$4K	$9K	20x	as long as short
Binance XLEUSDTshort	0.0000%	8h	62.529	+0.110%	$798K	$1.1M	20x
Bybit XLEUSDTlong	0.0000%	8h	62.460	long leg	$322K	$207K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.470	+0.016%	$299K	$561K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.490	+0.048%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.480	+0.032%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	+0.064%	$95K	$85K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.585	+0.200%	$44K	$15K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.585	+0.201%	$13K	$176K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.517	+0.091%	$2K	$4.9M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.591	+0.210%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.500	+0.064%	$1.2M	$6.0M	30x	as long as short
tradeXYZ xyz:XLE	+0.0141%	1h	62.432	−0.045%	$2.4M	$3.9M	20x	as long as short