Funding arb · Price arb /

XLE

RWAall XLE markets

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 Binance0.000%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.627% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.581%+$58 on $10k

Price spread, last 7 days−0.089%−$9 · spread now 0.000%, 7d avg −0.043%

Together, before fees+0.492%+$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.043% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	61.930	0	get 0.0000% / 8h	5h 27m	$770K	$1.0M	20x
Short	QFEX XLE-USD	61.930	0.0058	get 0.0007% / 1h	27m 01s	$1.2M	$4.2M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $12.25
Price spread: 0.000% → −0.043%: $4.25
Slippage, 4 orders: −$42.74
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$46.24
Costs to cover: 0.627%
Break-even: 33.4 days

Slippage from Binance: live order book, 73 min ago; QFEX: live order book, 10 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, 73 min ago	0.80 bp	20.7 bp −$21	69.4 bp −$694	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	3.23 bp	11.4 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit

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	−0.0239%	8h	61.970	+0.065%	$1.0M	$948K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	61.941	+0.017%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	61.930	long leg	$770K	$1.0M	20x
Bybit XLEUSDT	0.0000%	8h	61.880	−0.081%	$308K	$216K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	61.910	−0.032%	$294K	$477K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	61.860	−0.113%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	61.900	−0.048%	$221K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	61.920	−0.016%	$94K	$74K	20x	as long as short
Variational Omni XLE	0.0000%	8h	61.955	+0.041%	$44K	$10K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	61.950	+0.032%	$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	61.941	+0.018%	$1K	$3.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	61.809	−0.195%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0014%	8h	61.850	−0.129%	$59K	$10K	20x	as long as short
QFEX XLE-USDshort	+0.0058%	1h	61.930	0.000%	$1.2M	$4.2M	30x
tradeXYZ xyz:XLE	+0.0101%	1h	61.854	−0.123%	$2.3M	$4.1M	20x	as long as short
edgeX XLEUSDC	+0.0314%	4h	61.956	+0.042%	$48K	$207K	10x	as long as short