Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0524%/8h= −57.3% APRpaid last 24h −0.009%

Price spread now: edgeX against Bybit+0.045%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$790.789% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now +0.045%, 7d avg +0.038%

Together, before fees+0.224%+ Points / potential airdropedgeX: Active · farm board+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.286%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.286% in total (about 14.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.560	0	get 0.0000% / 8h	7h 30m	$324K	$210K	25x
Short	edgeX XLEUSDC	62.588	−0.0524	pay 0.0262% / 4h	3h 30m	$48K	$210K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$109.95
Price spread: +0.045% → +0.038%: $0.7
Slippage, 4 orders: −$58.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$188.13
Costs to cover: 0.789%
Break-even: never at this rate

Slippage from Bybit: live order book, 33 min ago; edgeX: live order book, 41 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, 33 min ago	3.20 bp	9.6 bp −$10	184.3 bp −$1,843	doesn't fit	doesn't fit
Sell edgeX live order book, 41 min ago	8.00 bp	14.5 bp −$15	doesn't fit	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 XLEUSDCshort	−0.0524%	4h	62.588	+0.045%	$48K	$210K	10x
KuCoin XLEUSDTM	−0.0183%	8h	62.430	−0.208%	$783K	$605K	20x	as long as short
BloFin XLE-USDT	−0.0010%	8h	62.440	−0.192%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.561	+0.001%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.580	+0.032%	$796K	$1.1M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.560	long leg	$324K	$210K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.530	−0.048%	$299K	$566K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.530	−0.048%	$61K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	0.000%	$219K	$101K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.580	+0.032%	$94K	$98K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	62.585	+0.040%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.592	+0.051%	$2K	$5.2M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.502	−0.093%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.510	−0.080%	$1.2M	$6.0M	30x	as long as short
tradeXYZ xyz:XLE	+0.0470%	1h	62.512	−0.077%	$2.4M	$3.9M	20x	as long as short
GRVT XLE_USDT_Perp	+0.0868%	8h	62.595	+0.056%	$14K	$178K	10x	as long as short