Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0165%/8h= −18.0% APRpaid last 24h +0.026%

Price spread now: Bitget against tradeXYZ+0.014%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$890.888% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now +0.014%, 7d avg +0.040%

Together, before fees−0.025%+ Points / potential airdroptradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.026% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.491	0.0165	pay 0.0021% / 1h	14m 51s	$2.4M	$4.0M	20x
Short	Bitget XLEUSDT	62.500	0	get 0.0000% / 8h	14m 51s	$94K	$153K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$34.59
Price spread: +0.014% → +0.040%: −$2.57
Slippage, 4 orders: −$58.76
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$125.92
Costs to cover: 0.888%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 3 min ago; Bitget: live order book, 55 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, 3 min ago	3.84 bp	13.7 bp −$14	48.9 bp −$489	doesn't fit	doesn't fit
Sell Bitget live order book, 55 min ago	7.19 bp	41.4 bp −$41	47.2 bp −$472	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	−0.0711%	4h	62.526	+0.056%	$48K	$211K	10x	as long as short
KuCoin XLEUSDTM	−0.0157%	8h	62.340	−0.242%	$774K	$600K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.493	+0.003%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.520	+0.046%	$798K	$1.5M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.490	−0.002%	$325K	$257K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.430	−0.098%	$298K	$621K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.510	+0.030%	$61K	$15K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.500	+0.014%	$219K	$112K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.500	+0.014%	$94K	$153K	20x
Variational Omni XLE	0.0000%	8h	62.531	+0.064%	$44K	$15K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.535	+0.070%	$2K	$6.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.519	+0.045%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0012%	8h	62.440	−0.082%	$57K	$9K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0043%	8h	62.504	+0.021%	$13K	$182K	10x	as long as short
QFEX XLE-USD	+0.0047%	1h	62.500	+0.014%	$1.3M	$5.8M	30x	as long as short
tradeXYZ xyz:XLElong	+0.0165%	1h	62.491	long leg	$2.4M	$4.0M	20x