Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.011%

Price spread now: Gate against QFEX−0.081%7-day average — · you buy dearer than you sell

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

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.081% cheaper against QFEX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	61.820	0.0057	pay 0.0007% / 1h	9m 26s	$1.2M	$4.4M	30x
Short	Gate XLE_USDT	61.770	0	get 0.0000% / 8h	4h 09m	$64K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.081%Rate

Funding earned: −$11.94
Price spread: −0.081% → 0.000%: −$8.09
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$45.03
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 7 min ago; Gate: no order-book sample. 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 QFEX live order book, 7 min ago	5.66 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0193%	4h	61.789	−0.049%	$47K	$207K	10x	as long as short
KuCoin XLEUSDTM	−0.0030%	8h	61.800	−0.032%	$1.0M	$976K	20x	as long as short
BloFin XLE-USDT	−0.0012%	8h	61.790	−0.049%	$59K	$10K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	61.823	+0.005%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	61.770	−0.081%	$772K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	61.770	−0.081%	$303K	$221K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	61.800	−0.032%	$293K	$476K	20x	as long as short
Gate XLE_USDTshort	0.0000%	8h	61.770	−0.081%	$64K	$12K	20x
MEXC XLE_USDT	0.0000%	8h	61.770	−0.081%	$220K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	61.770	−0.081%	$98K	$69K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	61.778	−0.068%	$44K	$10K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	61.810	−0.016%	$13K	$142K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	61.771	−0.079%	$1K	$3.0M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	61.622	−0.320%	$5K	$36K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	61.720	−0.162%	$2.3M	$4.1M	20x	as long as short
QFEX XLE-USDlong	+0.0057%	1h	61.820	long leg	$1.2M	$4.4M	30x