Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0281%/8h= +30.8% APRpaid last 24h −0.039%

Price spread now: edgeX against QFEX+0.008%7-day average −0.022% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1581.575% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.008%, 7d avg −0.022%

Together, before fees−0.044%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and edgeX is 0.030% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.022%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.063% in total (about 6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	62.480	0.0057	pay 0.0007% / 1h	5m 33s	$1.2M	$5.0M	30x
Short	edgeX XLEUSDC	62.485	0.0339	get 0.0169% / 4h	1h 05m	$48K	$210K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against QFEX. 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 QFEXbpFee edgeXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $59.1
Price spread: +0.008% → −0.022%: $2.97
Slippage, 4 orders: −$138.55
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$95.48
Costs to cover: 1.575%
Break-even: 18.3 days

Slippage from QFEX: live order book, 3 min ago; edgeX: live order book, 56 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 QFEX live order book, 3 min ago	29.61 bp	62.0 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	8.80 bp	16.1 bp −$16	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	−0.0276%	8h	62.430	−0.080%	$794K	$646K	20x	as long as short
BloFin XLE-USDT	−0.0017%	8h	62.480	0.000%	$14K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.492	+0.019%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.509	+0.046%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.490	+0.016%	$322K	$204K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.490	+0.016%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.480	0.000%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.500	+0.032%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.510	+0.048%	$96K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.493	+0.021%	$44K	$14K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.476	−0.007%	$14K	$175K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.500	+0.032%	$2K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.442	−0.061%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.478	−0.003%	$2.4M	$3.8M	20x	as long as short
QFEX XLE-USDlong	+0.0057%	1h	62.480	long leg	$1.2M	$5.0M	30x
edgeX XLEUSDCshort	+0.0339%	4h	62.485	+0.008%	$48K	$210K	10x