Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.009%

Price spread now: QFEX against Bybit+0.016%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$200as in the Price arb table

costs, in and out, $10k−$1951.953% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.016%, 7d avg +0.059%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.043% cheaper against Bybit than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.059%). If the spread goes back, that is −$4 on $10k: about 4.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.720	0	get 0.0000% / 8h	17m 58s	$321K	$204K	25x
Short	QFEX XLE-USD	62.730	0.0033	get 0.0004% / 1h	17m 58s	$1.2M	$4.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $6.97
Price spread: +0.016% → +0.059%: −$4.29
Slippage, 4 orders: −$174.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$192.65
Costs to cover: 1.953%
Break-even: 200.4 days

Slippage from Bybit: live order book, 11 min ago; QFEX: 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, 11 min ago	3.98 bp	15.5 bp −$15	181.2 bp −$1,812	doesn't fit	doesn't fit
Sell QFEX live order book, 11 min ago	27.84 bp	32.9 bp −$33	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
KuCoin XLEUSDTM	−0.0300%	8h	62.620	−0.159%	$823K	$766K	20x	as long as short
BloFin XLE-USDT	−0.0014%	8h	62.720	0.000%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.743	+0.036%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.766	+0.074%	$790K	$969K	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.720	long leg	$321K	$204K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.720	0.000%	$301K	$532K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.032%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.700	−0.032%	$220K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.760	+0.064%	$95K	$80K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.764	+0.070%	$44K	$15K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.790	+0.112%	$13K	$160K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.768	+0.077%	$2K	$3.9M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.686	−0.054%	$5K	$35K	10x	as long as short
QFEX XLE-USDshort	+0.0033%	1h	62.730	+0.016%	$1.2M	$4.0M	30x
tradeXYZ xyz:XLE	+0.0050%	1h	62.645	−0.120%	$2.3M	$3.8M	20x	as long as short
edgeX XLEUSDC	+0.0279%	4h	62.843	+0.196%	$48K	$208K	10x	as long as short