Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.027%

Price spread now: Bybit against tradeXYZ+0.019%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1331.329% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.019%, 7d avg +0.043%

Together, before fees−0.084%+ Points / potential airdroptradeXYZ: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.024% cheaper against tradeXYZ than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.478	0.0050	pay 0.0006% / 1h	2m 24s	$2.4M	$3.8M	20x
Short	Bybit XLEUSDT	62.490	0	get 0.0000% / 8h	5h 02m	$322K	$205K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$10.5
Price spread: +0.019% → +0.043%: −$2.42
Slippage, 4 orders: −$103.88
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$145.8
Costs to cover: 1.329%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Bybit: live order book, 52 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, 6 min ago	5.60 bp	16.6 bp −$17	48.5 bp −$485	doesn't fit	doesn't fit
Sell Bybit live order book, 52 min ago	4.01 bp	78.3 bp −$78	233.2 bp −$2,332	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	−0.0269%	8h	62.450	−0.045%	$794K	$646K	20x	as long as short
BloFin XLE-USDT	−0.0014%	8h	62.400	−0.125%	$14K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.489	+0.017%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.517	+0.063%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.490	+0.019%	$322K	$205K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.490	+0.019%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.480	+0.003%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.520	+0.067%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	+0.035%	$96K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.493	+0.024%	$44K	$14K	—	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	62.482	+0.006%	$14K	$175K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.520	+0.067%	$2K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.475	−0.005%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLElong	+0.0050%	1h	62.478	long leg	$2.4M	$3.8M	20x
QFEX XLE-USD	+0.0057%	1h	62.500	+0.035%	$1.2M	$5.0M	30x	as long as short
edgeX XLEUSDC	+0.0646%	4h	62.501	+0.036%	$48K	$210K	10x	as long as short