Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h −0.008%

Price spread now: QFEX against Gate+0.048%55s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.048% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XLE_USDT	62.570	0	get 0.0000% / 8h	2h 09m	$61K	$24K	20x
Short	QFEX XLE-USD	62.600	0.0038	get 0.0005% / 1h	9m 42s	$1.3M	$5.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.048%Rate

Funding earned: $8
Price spread: +0.048% → 0.000%: $4.79
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$12.21
Costs to cover: 0.250%
Break-even: 17.7 days

Slippage unknown: Gate: no order-book sample; QFEX: live order book, 4 min ago. Net counts fees only.

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 Gate no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	26.33 bp	34.6 bp −$35	42.5 bp −$425	doesn't fit	doesn't fit

Gate: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0979%	4h	62.657	+0.139%	$48K	$212K	10x	as long as short
BloFin XLE-USDT	−0.0003%	8h	62.570	0.000%	$57K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.611	+0.065%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.621	+0.082%	$801K	$1.9M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.600	+0.048%	$332K	$280K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.560	−0.016%	$298K	$691K	20x	as long as short
Gate XLE_USDTlong	0.0000%	8h	62.570	long leg	$61K	$24K	20x
MEXC XLE_USDT	0.0000%	8h	62.620	+0.080%	$219K	$117K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.620	+0.080%	$100K	$166K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.619	+0.078%	$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	62.617	+0.075%	$1K	$7.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.597	+0.043%	$5K	$34K	10x	as long as short
QFEX XLE-USDshort	+0.0038%	1h	62.600	+0.048%	$1.3M	$5.0M	30x
tradeXYZ xyz:XLE	+0.0074%	1h	62.597	+0.043%	$2.4M	$4.0M	20x	as long as short
KuCoin XLEUSDTM	+0.0100%	8h	62.520	−0.080%	$769K	$580K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0224%	8h	62.640	+0.112%	$13K	$196K	10x	as long as short