Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.005%

Price spread now: Binance against tradeXYZ+0.160%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.768%−$77 on $10k

Price spread, last 7 days−0.123%−$12 · spread now +0.160%, 7d avg +0.091%

Together, before fees−0.891%+ Points / potential airdroptradeXYZ: Active · farm board−$89 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.069% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of +0.091%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 7 days (−0.768% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.650	0.0050	pay 0.0006% / 1h	9m 27s	$2.3M	$3.8M	20x
Short	Binance XLEUSDT	62.750	0	get 0.0000% / 8h	9m 27s	$790K	$983K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.160%Rate

Funding earned: −$10.5
Price spread: +0.160% → +0.091%: $6.89
Slippage, 4 orders: −$38.45
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$70.06
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Binance: live order book, 53 min ago.

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 tradeXYZ live order book, 9 min ago	3.83 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 53 min ago	1.59 bp	21.0 bp −$21	85.4 bp −$854	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	−0.0311%	8h	62.580	−0.112%	$828K	$783K	20x	as long as short
BloFin XLE-USDT	−0.0001%	8h	62.740	+0.144%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.736	+0.137%	$4K	$9K	20x	as long as short
Binance XLEUSDTshort	0.0000%	8h	62.750	+0.160%	$790K	$983K	20x
Bybit XLEUSDT	0.0000%	8h	62.730	+0.128%	$321K	$204K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.650	0.000%	$301K	$523K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	+0.080%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.710	+0.096%	$220K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.740	+0.144%	$95K	$80K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.752	+0.163%	$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	62.780	+0.207%	$13K	$160K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.757	+0.171%	$1K	$3.9M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.676	+0.042%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0033%	1h	62.660	+0.016%	$1.2M	$4.0M	30x	as long as short
tradeXYZ xyz:XLElong	+0.0050%	1h	62.650	long leg	$2.3M	$3.8M	20x
edgeX XLEUSDC	+0.0769%	4h	62.752	+0.163%	$48K	$208K	10x	as long as short