Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0104%/8h= −11.3% APRpaid last 24h +0.009%

Price spread now: SunX against tradeXYZ+0.134%52s7-day average +0.089% · you sell dearer than you buy

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

Long on tradeXYZ Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.134%, 7d avg +0.089%

Together, before fees−0.194%+ Points / potential airdroptradeXYZ: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.046% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of +0.089%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.593	0.0104	pay 0.0013% / 1h	5m 25s	$2.4M	$3.8M	20x
Short	SunX XLE-USDT	62.677	0	get 0.0000% / 8h	3h 05m	$2K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$21.74
Price spread: +0.134% → +0.089%: $4.57
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$43.17
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 2 min ago; SunX: live order book, 3 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 tradeXYZ live order book, 2 min ago	1.68 bp	18.2 bp −$18	48.7 bp −$487	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	47.70 bp	doesn't fit	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 XLEUSDTM	−0.0265%	8h	62.500	−0.149%	$801K	$647K	20x	as long as short
edgeX XLEUSDC	−0.0073%	4h	62.667	+0.118%	$48K	$208K	10x	as long as short
Aster XLEUSDT	0.0000%	8h	62.578	−0.025%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.669	+0.122%	$791K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.640	+0.075%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.540	−0.085%	$300K	$559K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.540	−0.085%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.650	+0.091%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.550	−0.069%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.669	+0.121%	$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	62.640	+0.075%	$13K	$174K	10x	as long as short
SunX XLE-USDTshort	0.0000%	8h	62.677	+0.134%	$2K	$4.6M	10x
HTX XLE-USDT	0.0000%	8h	62.580	−0.021%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0002%	8h	62.600	+0.011%	$58K	$9K	20x	as long as short
QFEX XLE-USD	+0.0026%	1h	62.610	+0.027%	$1.2M	$4.2M	30x	as long as short
tradeXYZ xyz:XLElong	+0.0104%	1h	62.593	long leg	$2.4M	$3.8M	20x