Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0272%/8h= −29.8% APRpaid last 24h +0.006%

Price spread now: KuCoin against tradeXYZ−0.123%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$428as in the Funding arb table

Net, price: spread back to 7d avg − costs−$429as in the Price arb table

costs, in and out, $10k−$4164.161% of the position

Long on tradeXYZ Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.123%, 7d avg +0.002%

Together, before fees+0.075%+ Points / potential airdroptradeXYZ: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and KuCoin is 0.125% cheaper against tradeXYZ than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.707	0.0050	pay 0.0006% / 1h	7m 17s	$2.4M	$3.8M	20x
Short	KuCoin XLEUSDTM	62.630	−0.0222	pay 0.0222% / 8h	2h 07m	$805K	$689K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$57.12
Price spread: −0.123% → +0.002%: −$12.48
Slippage, 4 orders: −$386.14
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$485.74
Costs to cover: 4.161%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; KuCoin: live order book, 12 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, 11 min ago	4.70 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 12 min ago	10.36 bp	96.0 bp −$96	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
KuCoin XLEUSDTMshort	−0.0222%	8h	62.630	−0.123%	$805K	$689K	20x
Aster XLEUSDT	0.0000%	8h	62.730	+0.037%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.740	+0.053%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.720	+0.021%	$323K	$202K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.670	−0.059%	$301K	$577K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.011%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.730	+0.037%	$220K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.750	+0.069%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.809	+0.163%	$44K	$15K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.788	+0.129%	$13K	$170K	10x	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	62.751	+0.070%	$2K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.653	−0.086%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0013%	8h	62.720	+0.021%	$58K	$9K	20x	as long as short
QFEX XLE-USD	+0.0040%	1h	62.720	+0.021%	$1.2M	$4.2M	30x	as long as short
tradeXYZ xyz:XLElong	+0.0050%	1h	62.707	long leg	$2.4M	$3.8M	20x
edgeX XLEUSDC	+0.0987%	4h	62.800	+0.148%	$48K	$208K	10x	as long as short