Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Binance−0.096%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$970.974% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.601%+$60 on $10k

Price spread, last 2 days (all we have)−0.058%−$6 · spread now −0.096%, 7d avg −0.049%

Together, before fees+0.543%+$54 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.047% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.580	0	get 0.0000% / 8h	7h 02m	$797K	$1.1M	20x
Short	Bitget XLEUSDT	62.520	0	get 0.0000% / 8h	7h 02m	$94K	$90K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.049%: −$4.72
Slippage, 4 orders: −$75.42
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$102.14
Costs to cover: 0.974%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Bitget: live order book, 62 min ago.

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 Binance live order book, 15 min ago	3.99 bp	15.7 bp −$16	68.3 bp −$683	doesn't fit	doesn't fit
Sell Bitget live order book, 62 min ago	8.00 bp	35.9 bp −$36	41.6 bp −$416	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
edgeX XLEUSDC	−0.0439%	4h	62.578	−0.004%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0168%	8h	62.440	−0.224%	$779K	$635K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.557	−0.037%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.580	long leg	$797K	$1.1M	20x
Bybit XLEUSDT	0.0000%	8h	62.550	−0.048%	$323K	$208K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.530	−0.080%	$299K	$564K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.600	+0.032%	$61K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	−0.032%	$219K	$103K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.520	−0.096%	$94K	$90K	20x
Variational Omni XLE	0.0000%	8h	62.573	−0.011%	$44K	$15K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.596	+0.026%	$2K	$5.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.498	−0.131%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0030%	8h	62.460	−0.192%	$14K	$9K	20x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.570	−0.016%	$1.2M	$6.0M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0179%	8h	62.590	+0.017%	$13K	$175K	10x	as long as short
tradeXYZ xyz:XLE	+0.0441%	1h	62.548	−0.051%	$2.4M	$3.9M	20x	as long as short