Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.001%

Price spread now: tradeXYZ against Bybit−0.088%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$850.849% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.088%, 7d avg −0.043%

Together, before fees+0.136%+ Points / potential airdroptradeXYZ: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.045% cheaper against Bybit than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of −0.043%). If the spread goes back, that is −$4 on $10k: about 3.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.770	0	get 0.0000% / 8h	1h 37m	$323K	$201K	25x
Short	tradeXYZ xyz:XLE	62.715	0.0050	get 0.0006% / 1h	37m 49s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.088%Rate

Funding earned: $10.5
Price spread: −0.088% → −0.043%: −$4.48
Slippage, 4 orders: −$55.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$78.87
Costs to cover: 0.849%
Break-even: 59.6 days

Slippage from Bybit: live order book, 62 min ago; tradeXYZ: live order book, 10 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, 62 min ago	2.39 bp	13.7 bp −$14	182.4 bp −$1,824	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	5.26 bp	17.5 bp −$18	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	−0.0234%	8h	62.710	−0.096%	$808K	$690K	20x	as long as short
edgeX XLEUSDC	−0.0028%	4h	62.760	−0.016%	$48K	$208K	10x	as long as short
BloFin XLE-USDT	−0.0015%	8h	62.740	−0.048%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.760	−0.016%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.770	0.000%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.770	long leg	$323K	$201K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.720	−0.080%	$302K	$570K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.112%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.780	+0.016%	$220K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.760	−0.016%	$95K	$87K	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	62.764	−0.010%	$44K	$15K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.742	−0.045%	$13K	$170K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.780	+0.016%	$1K	$4.4M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.718	−0.083%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0031%	1h	62.740	−0.048%	$1.2M	$4.1M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0050%	1h	62.715	−0.088%	$2.4M	$3.8M	20x