Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h +0.011%

Price spread now: QFEX against Variational Omni−0.009%47s7-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 QFEX

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 airdropVariational Omni: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 47 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	Variational Omni XLE	61.955	0	get 0.0000% / 8h	5h 28m	$44K	$10K	—
Short	QFEX XLE-USD	61.950	0.0058	get 0.0007% / 1h	28m 36s	$1.2M	$4.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $12.25
Price spread: −0.009% → 0.000%: −$0.88
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: $1.37
Costs to cover: 0.100%
Break-even: 6.2 days

Slippage unknown: Variational Omni: no order-book sample; QFEX: live order book, 8 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 QFEX live order book, 8 min ago	3.23 bp	11.4 bp −$11	16.7 bp −$167	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 exchanges

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	−0.0244%	8h	61.970	+0.023%	$1.0M	$946K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	61.953	−0.003%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	61.930	−0.041%	$770K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	61.890	−0.106%	$308K	$216K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	61.910	−0.073%	$294K	$477K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	61.860	−0.154%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	61.920	−0.057%	$221K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	61.920	−0.057%	$94K	$74K	20x	as long as short
Variational Omni XLElong	0.0000%	8h	61.955	long leg	$44K	$10K	—
GRVT XLE_USDT_Perp	0.0000%	8h	61.950	−0.010%	$13K	$142K	10x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	61.966	+0.017%	$2K	$3.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	61.809	−0.236%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0011%	8h	61.850	−0.170%	$59K	$10K	20x	as long as short
QFEX XLE-USDshort	+0.0058%	1h	61.950	−0.009%	$1.2M	$4.2M	30x
tradeXYZ xyz:XLE	+0.0098%	1h	61.862	−0.151%	$2.3M	$4.1M	20x	as long as short
edgeX XLEUSDC	+0.0300%	4h	61.953	−0.004%	$48K	$209K	10x	as long as short