Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h −0.011%

Price spread now: edgeX against KuCoin+0.253%98s7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$754as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$7807.802% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 4 days (all we have)−0.300%−$30 · spread now +0.253%, 7d avg +0.073%

Together, before fees−0.042%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.180% dearer against KuCoin than usual: you sell high and buy low (spread +0.253% now, against its 7-day average of +0.073%): +$18 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.257%, so the current rate has only just turned against you. The two prices were read 98 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	KuCoin XLEUSDTM	62.370	−0.0194	get 0.0194% / 8h	6h 15m	$787K	$654K	20x
Short	edgeX XLEUSDC	62.528	−0.0361	pay 0.0181% / 4h	2h 15m	$48K	$210K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.253%Rate

Funding earned: −$35.16
Price spread: +0.253% → +0.073%: $17.98
Slippage, 4 orders: −$759.18
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$797.37
Costs to cover: 7.802%
Break-even: never at this rate

Slippage from KuCoin: live order book, 23 min ago; edgeX: live order book, 51 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 KuCoin live order book, 23 min ago	6.41 bp	585.6 bp −$586	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 51 min ago	7.99 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit

XLE on 15 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	−0.0361%	4h	62.528	+0.253%	$48K	$210K	10x
KuCoin XLEUSDTMlong	−0.0194%	8h	62.370	long leg	$787K	$654K	20x
Aster XLEUSDT	0.0000%	8h	62.535	+0.264%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.539	+0.271%	$798K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.490	+0.192%	$323K	$207K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.470	+0.160%	$300K	$559K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.500	+0.208%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.510	+0.224%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	+0.208%	$95K	$85K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.529	+0.255%	$44K	$14K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.531	+0.258%	$13K	$176K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.536	+0.266%	$2K	$4.9M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.345	−0.040%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.500	+0.208%	$1.2M	$6.0M	30x	as long as short
tradeXYZ xyz:XLE	+0.0170%	1h	62.432	+0.099%	$2.4M	$3.9M	20x	as long as short