Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.023%

Price spread now: Bybit against SunX−0.098%7-day average −0.047% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now −0.098%, 7d avg −0.047%

Together, before fees+0.106%+$11 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 0.051% cheaper against SunX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XLE-USDT	62.541	0	get 0.0000% / 8h	49m 06s	$2K	$6.5M	10x
Short	Bybit XLEUSDT	62.480	0	get 0.0000% / 8h	49m 06s	$326K	$271K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.098%Rate

Funding earned: $0
Price spread: −0.098% → −0.047%: −$5.09
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.09
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; Bybit: live order book, 20 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 SunX live order book, 10 min ago	46.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 20 min ago	3.20 bp	80.0 bp −$80	234.5 bp −$2,345	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
Aster XLEUSDT	0.0000%	8h	62.509	−0.051%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.540	−0.002%	$797K	$1.7M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.480	−0.098%	$326K	$271K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.440	−0.161%	$298K	$653K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.500	−0.066%	$61K	$15K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.500	−0.066%	$219K	$110K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	−0.066%	$94K	$164K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.537	−0.006%	$44K	$15K	—	as long as short
SunX XLE-USDTlong	0.0000%	8h	62.541	long leg	$2K	$6.5M	10x
HTX XLE-USDT	0.0000%	8h	62.590	+0.078%	$5K	$34K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XLEUSDTM	+0.0008%	8h	62.390	−0.241%	$773K	$615K	20x	as long as short
BloFin XLE-USDT	+0.0012%	8h	62.450	−0.146%	$57K	$9K	20x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.550	+0.014%	$1.3M	$5.5M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0056%	8h	62.525	−0.025%	$13K	$190K	10x	as long as short
tradeXYZ xyz:XLE	+0.0229%	1h	62.461	−0.128%	$2.4M	$4.0M	20x	as long as short
edgeX XLEUSDC	+0.0723%	4h	62.535	−0.009%	$48K	$210K	10x	as long as short