Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.001%

Price spread now: QFEX against GRVT−0.048%7-day average −0.003% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$580.584% of the position

Long on GRVT Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.048%, 7d avg −0.003%

Together, before fees+0.096%+ Points / potential airdropGRVT: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and QFEX is 0.045% cheaper against GRVT than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XLE_USDT_Perp	62.590	0.0164	pay 0.0164% / 8h	6h 45m	$13K	$175K	10x
Short	QFEX XLE-USD	62.560	0.0047	get 0.0006% / 1h	45m 01s	$1.2M	$6.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against GRVT. 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 GRVTbpFee QFEXbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$24.54
Price spread: −0.048% → −0.003%: −$4.49
Slippage, 4 orders: −$39.42
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$87.46
Costs to cover: 0.584%
Break-even: never at this rate

Slippage from GRVT: live order book, 22 min ago; QFEX: live order book, 4 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 GRVT live order book, 22 min ago	3.99 bp	15.9 bp −$16	76.4 bp −$764	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.40 bp	9.0 bp −$9	16.4 bp −$164	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	−0.0984%	4h	62.594	+0.007%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0172%	8h	62.430	−0.256%	$782K	$648K	20x	as long as short
BloFin XLE-USDT	−0.0018%	8h	62.510	−0.128%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.578	−0.020%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.570	−0.032%	$798K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.550	−0.064%	$323K	$208K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.540	−0.080%	$299K	$563K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.600	+0.016%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.590	0.000%	$219K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.550	−0.064%	$93K	$91K	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	62.580	−0.015%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.587	−0.005%	$2K	$5.0M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.494	−0.153%	$5K	$34K	10x	as long as short
QFEX XLE-USDshort	+0.0047%	1h	62.560	−0.048%	$1.2M	$6.0M	30x
tradeXYZ xyz:XLE	+0.0105%	1h	62.548	−0.067%	$2.4M	$3.9M	20x	as long as short
GRVT XLE_USDT_Perplong	+0.0164%	8h	62.590	long leg	$13K	$175K	10x