Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.3% APRpaid last 24h −0.008%

Price spread now: Variational Omni against QFEX−0.033%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.033% cheaper against QFEX than usual: you would sell low and buy high (−$3 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	62.670	0.0040	pay 0.0005% / 1h	51m 07s	$1.2M	$4.2M	30x
Short	Variational Omni XLE	62.649	0	get 0.0000% / 8h	2h 51m	$44K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.033%Rate

Funding earned: −$8.32
Price spread: −0.033% → 0.000%: −$3.35
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.66
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 7 min ago; Variational Omni: 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	51.08 bp	60.7 bp −$61	69.6 bp −$696	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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 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 XLEUSDC	−0.0306%	4h	62.678	+0.013%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0267%	8h	62.460	−0.335%	$803K	$651K	20x	as long as short
BloFin XLE-USDT	−0.0004%	8h	62.610	−0.096%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.599	−0.113%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.670	0.000%	$792K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.680	+0.016%	$324K	$202K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.600	−0.112%	$300K	$560K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.670	0.000%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.670	0.000%	$219K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.660	−0.016%	$95K	$81K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLEshort	0.0000%	8h	62.649	−0.033%	$44K	$15K	—
GRVT XLE_USDT_Perp	0.0000%	8h	62.660	−0.015%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.692	+0.035%	$2K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.603	−0.107%	$5K	$34K	10x	as long as short
QFEX XLE-USDlong	+0.0040%	1h	62.670	long leg	$1.2M	$4.2M	30x
tradeXYZ xyz:XLE	+0.0050%	1h	62.638	−0.051%	$2.4M	$3.8M	20x	as long as short