Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Bybit against Variational Omni−0.027%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.027% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XLE	62.617	0	get 0.0000% / 8h	2h 27m	$44K	$15K	—
Short	Bybit XLEUSDT	62.600	0	get 0.0000% / 8h	2h 27m	$333K	$280K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → 0.000%: −$2.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.74
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 56 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Bybit live order book, 56 min ago	3.99 bp	86.4 bp −$86	239.5 bp −$2,395	doesn't fit	doesn't fit

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
Aster XLEUSDT	0.0000%	8h	62.630	+0.021%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.658	+0.065%	$803K	$1.9M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.600	−0.027%	$333K	$280K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.620	+0.004%	$299K	$692K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.590	−0.043%	$61K	$24K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.630	+0.020%	$219K	$116K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.610	−0.011%	$100K	$166K	20x	as long as short
Variational Omni XLElong	0.0000%	8h	62.617	long leg	$44K	$15K	—
SunX XLE-USDT	0.0000%	8h	62.653	+0.057%	$852	$7.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.525	−0.147%	$5K	$34K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XLE-USDT	+0.0019%	8h	62.590	−0.043%	$57K	$9K	20x	as long as short
QFEX XLE-USD	+0.0038%	1h	62.660	+0.068%	$1.3M	$4.9M	30x	as long as short
tradeXYZ xyz:XLE	+0.0052%	1h	62.610	−0.011%	$2.4M	$4.0M	20x	as long as short
KuCoin XLEUSDTM	+0.0100%	8h	62.600	−0.027%	$771K	$580K	20x	as long as short
GRVT XLE_USDT_Perp	+0.0257%	8h	62.629	+0.019%	$13K	$196K	10x	as long as short
edgeX XLEUSDC	+0.0651%	4h	62.617	0.000%	$48K	$212K	10x	as long as short