Funding arb · Price arb /

XLE

RWAall XLE markets

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: QFEX against SunX−0.019%7-day average +0.012% · you buy dearer than you sell

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

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.019%, 7d avg +0.012%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.031% cheaper against SunX than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.012%). If the spread goes back, that is −$3 on $10k: about 2.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XLE-USDT	62.702	0	get 0.0000% / 8h	2h 31m	$1K	$4.5M	10x
Short	QFEX XLE-USD	62.690	0.0040	get 0.0005% / 1h	31m 09s	$1.2M	$4.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.019%Rate

Funding earned: $8.32
Price spread: −0.019% → +0.012%: −$3.12
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$12.8
Costs to cover: 0.180%
Break-even: 17.8 days

Slippage unknown: SunX: live order book, 7 min ago; QFEX: live order book, 7 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, 7 min ago	48.47 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	4.78 bp	10.5 bp −$10	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
edgeX XLEUSDC	−0.0699%	4h	62.698	−0.007%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0280%	8h	62.620	−0.131%	$809K	$673K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.637	−0.104%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.700	−0.003%	$792K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.690	−0.019%	$324K	$202K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.690	−0.019%	$302K	$579K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.680	−0.035%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.680	−0.035%	$219K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.680	−0.035%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.701	−0.002%	$44K	$15K	—	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	62.689	−0.020%	$13K	$173K	10x	as long as short
SunX XLE-USDTlong	0.0000%	8h	62.702	long leg	$1K	$4.5M	10x
HTX XLE-USDT	0.0000%	8h	62.568	−0.214%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0013%	8h	62.690	−0.019%	$58K	$9K	20x	as long as short
QFEX XLE-USDshort	+0.0040%	1h	62.690	−0.019%	$1.2M	$4.2M	30x
tradeXYZ xyz:XLE	+0.0050%	1h	62.624	−0.124%	$2.4M	$3.8M	20x	as long as short