Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0631%/8h= +69.1% APRpaid last 24h +0.005%

Price spread now: GRVT against QFEX+0.066%7-day average −0.012% · you sell dearer than you buy

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

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.029%+$3 on $10k

Price spread, last 3 days (all we have)−0.115%−$11 · spread now +0.066%, 7d avg −0.012%

Together, before fees−0.086%+ Points / potential airdropGRVT: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and GRVT is 0.078% dearer against QFEX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.012%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.029% in total (about 3.1% 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	62.500	0.0043	pay 0.0005% / 1h	53m 34s	$1.2M	$5.9M	30x
Short	GRVT XLE_USDT_Perp	62.541	0.0674	get 0.0674% / 8h	7h 53m	$14K	$178K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.066%Rate

Funding earned: $132.6
Price spread: +0.066% → −0.012%: $7.77
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $121.38
Costs to cover: 0.190%
Break-even: 0.6 days

Slippage unknown: QFEX: live order book, 10 min ago; GRVT: live order book, 19 min ago. 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, 10 min ago	26.39 bp	34.5 bp −$34	39.6 bp −$396	doesn't fit	doesn't fit
Sell GRVT live order book, 19 min ago	807.87 bp	doesn't fit	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	−0.0170%	8h	62.380	−0.192%	$784K	$598K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.508	+0.013%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.527	+0.043%	$799K	$1.3M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.470	−0.048%	$323K	$211K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.460	−0.064%	$299K	$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_USDT	0.0000%	8h	62.490	−0.016%	$219K	$100K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.530	+0.048%	$94K	$102K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.557	+0.090%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.596	+0.154%	$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	+0.062%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0024%	8h	62.370	−0.208%	$57K	$9K	20x	as long as short
QFEX XLE-USDlong	+0.0043%	1h	62.500	long leg	$1.2M	$5.9M	30x
tradeXYZ xyz:XLE	+0.0311%	1h	62.463	−0.059%	$2.4M	$3.9M	20x	as long as short
edgeX XLEUSDC	+0.0497%	4h	62.543	+0.068%	$48K	$210K	10x	as long as short
GRVT XLE_USDT_Perpshort	+0.0674%	8h	62.541	+0.066%	$14K	$178K	10x