Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.001%

Price spread now: Variational Omni against tradeXYZ+0.038%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.038% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.705	0.0067	pay 0.0008% / 1h	52m 33s	$2.4M	$3.8M	20x
Short	Variational Omni XLE	62.729	0	get 0.0000% / 8h	1h 52m	$44K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.038%Rate

Funding earned: −$14
Price spread: +0.038% → 0.000%: $3.83
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.17
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 4 min ago; Variational Omni: no order-book sample. 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, 4 min ago	4.55 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0219%	8h	62.610	−0.152%	$806K	$691K	20x	as long as short
BloFin XLE-USDT	0.0000%	8h	62.760	+0.088%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.729	+0.038%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.800	+0.152%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.790	+0.136%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.670	−0.056%	$301K	$575K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.008%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.770	+0.104%	$220K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.800	+0.152%	$95K	$82K	20x	as long as short
Variational Omni XLEshort	0.0000%	8h	62.729	+0.038%	$44K	$15K	—

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	62.790	+0.136%	$13K	$170K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.815	+0.175%	$2K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.651	−0.086%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0031%	1h	62.790	+0.136%	$1.2M	$4.1M	30x	as long as short
tradeXYZ xyz:XLElong	+0.0067%	1h	62.705	long leg	$2.4M	$3.8M	20x
edgeX XLEUSDC	+0.0604%	4h	62.797	+0.146%	$48K	$208K	10x	as long as short