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: Bybit against Binance−0.031%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1291.287% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.623%+$62 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.031%, 7d avg −0.053%

Together, before fees+0.630%+$63 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: Bybit is 0.022% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.680	0	get 0.0000% / 8h	2h 45m	$792K	$1.0M	20x
Short	Bybit XLEUSDT	62.660	0	get 0.0000% / 8h	2h 45m	$323K	$202K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.053%: $2.16
Slippage, 4 orders: −$107.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$126.54
Costs to cover: 1.287%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Bybit: live order book, 58 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, 2 min ago	4.78 bp	15.7 bp −$16	70.7 bp −$707	doesn't fit	doesn't fit
Sell Bybit live order book, 58 min ago	2.40 bp	83.4 bp −$83	225.4 bp −$2,254	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	−0.0435%	4h	62.691	+0.019%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0272%	8h	62.460	−0.350%	$804K	$648K	20x	as long as short
BloFin XLE-USDT	−0.0005%	8h	62.620	−0.095%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.615	−0.103%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.680	long leg	$792K	$1.0M	20x
Bybit XLEUSDTshort	0.0000%	8h	62.660	−0.031%	$323K	$202K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.600	−0.127%	$300K	$560K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.680	+0.001%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.670	−0.015%	$219K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.660	−0.031%	$95K	$81K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	62.689	+0.015%	$44K	$15K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.662	−0.028%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.697	+0.028%	$1K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.623	−0.090%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0040%	1h	62.670	−0.015%	$1.2M	$4.2M	30x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.615	−0.103%	$2.4M	$3.8M	20x	as long as short