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: Bitget against Bybit+0.016%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1091.090% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now +0.016%, 7d avg −0.006%

Together, before fees+0.008%+$1 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: Bitget is 0.022% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.520	0	get 0.0000% / 8h	7h 10m	$323K	$208K	25x
Short	Bitget XLEUSDT	62.530	0	get 0.0000% / 8h	7h 10m	$94K	$90K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.006%: $2.15
Slippage, 4 orders: −$86.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$106.86
Costs to cover: 1.090%
Break-even: never at this rate

Slippage from Bybit: live order book, 54 min ago; Bitget: live order book, 54 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, 54 min ago	3.20 bp	9.6 bp −$10	184.3 bp −$1,843	doesn't fit	doesn't fit
Sell Bitget live order book, 54 min ago	8.00 bp	35.9 bp −$36	41.6 bp −$416	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
edgeX XLEUSDC	−0.0601%	4h	62.548	+0.045%	$48K	$211K	10x	as long as short
KuCoin XLEUSDTM	−0.0183%	8h	62.480	−0.064%	$782K	$619K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.557	+0.059%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.570	+0.080%	$796K	$1.1M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.520	long leg	$323K	$208K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.540	+0.032%	$299K	$564K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.600	+0.128%	$61K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.540	+0.032%	$219K	$102K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.530	+0.016%	$94K	$90K	20x
Variational Omni XLE	0.0000%	8h	62.600	+0.127%	$44K	$15K	—	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	62.586	+0.106%	$1K	$5.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.625	+0.168%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0020%	8h	62.470	−0.080%	$14K	$9K	20x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.540	+0.032%	$1.2M	$6.0M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0132%	8h	62.584	+0.102%	$13K	$175K	10x	as long as short
tradeXYZ xyz:XLE	+0.0500%	1h	62.531	+0.018%	$2.4M	$3.9M	20x	as long as short