Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%

Price spread now: Bybit against MEXC−0.112%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$720.716% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.112%, 7d avg −0.037%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.075% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XLE_USDT	62.560	0	get 0.0000% / 8h	7h 54m	$219K	$100K	20x
Short	Bybit XLEUSDT	62.490	0	get 0.0000% / 8h	7h 54m	$324K	$217K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.112%Rate

Funding earned: $0
Price spread: −0.112% → −0.037%: −$7.51
Slippage, 4 orders: −$60.63
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$79.15
Costs to cover: 0.716%
Break-even: never at this rate

Slippage from MEXC: live order book, 65 min ago; Bybit: 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 MEXC live order book, 65 min ago	6.40 bp	10.9 bp −$11	87.4 bp −$874	217.7 bp −$21.8K	doesn't fit
Sell Bybit live order book, 10 min ago	3.20 bp	38.7 bp −$39	201.1 bp −$2,011	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	−0.0171%	8h	62.400	−0.256%	$785K	$599K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.543	−0.028%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.590	+0.048%	$799K	$1.3M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.490	−0.112%	$324K	$217K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.460	−0.160%	$298K	$579K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.530	−0.048%	$61K	$12K	20x	as long as short
MEXC XLE_USDTlong	0.0000%	8h	62.560	long leg	$219K	$100K	20x
Bitget XLEUSDT	0.0000%	8h	62.550	−0.016%	$94K	$102K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.557	−0.006%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.596	+0.058%	$2K	$5.7M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX XLE-USDT	0.0000%	8h	62.539	−0.034%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0024%	8h	62.370	−0.304%	$57K	$9K	20x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.520	−0.064%	$1.2M	$5.9M	30x	as long as short
tradeXYZ xyz:XLE	+0.0298%	1h	62.486	−0.118%	$2.4M	$3.9M	20x	as long as short
edgeX XLEUSDC	+0.0497%	4h	62.543	−0.027%	$48K	$210K	10x	as long as short
GRVT XLE_USDT_Perp	+0.0674%	8h	62.541	−0.030%	$14K	$178K	10x	as long as short