Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.001%

Price spread now: tradeXYZ against Variational Omni−0.113%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 tradeXYZ

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 · tradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.113% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.113% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 7.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XLE	62.764	0	get 0.0000% / 8h	1h 42m	$44K	$15K	—
Short	tradeXYZ xyz:XLE	62.693	0.0050	get 0.0006% / 1h	42m 25s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.113%Rate

Funding earned: $10.5
Price spread: −0.113% → 0.000%: −$11.31
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$18.81
Costs to cover: 0.180%
Break-even: 19.5 days

Slippage unknown: Variational Omni: no order-book sample; tradeXYZ: live order book, 6 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 tradeXYZ live order book, 6 min ago	5.26 bp	17.5 bp −$18	doesn't fit	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
KuCoin XLEUSDTM	−0.0230%	8h	62.690	−0.118%	$807K	$691K	20x	as long as short
BloFin XLE-USDT	0.0000%	8h	62.630	−0.214%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.780	+0.025%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.770	+0.010%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.780	+0.025%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.720	−0.070%	$302K	$570K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.102%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.770	+0.010%	$220K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.760	−0.006%	$95K	$87K	20x	as long as short
Variational Omni XLElong	0.0000%	8h	62.764	long leg	$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	62.770	+0.010%	$13K	$170K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.771	+0.011%	$2K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.661	−0.164%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0031%	1h	62.740	−0.038%	$1.2M	$4.1M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0050%	1h	62.693	−0.113%	$2.4M	$3.8M	20x
edgeX XLEUSDC	+0.0985%	4h	62.757	−0.011%	$48K	$210K	10x	as long as short