Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0425%/8h= +46.6% APRpaid last 24h −0.051%

Price spread now: tradeXYZ against Bitget+0.045%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$870.875% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.045%, 7d avg −0.039%

Together, before fees−0.030%+ Points / potential airdroptradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and tradeXYZ is 0.084% dearer against Bitget than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.039%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.158% in total (about 8.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XLEUSDT	62.520	0	get 0.0000% / 8h	7h 00m	$94K	$90K	20x
Short	tradeXYZ xyz:XLE	62.548	0.0425	get 0.0053% / 1h	0m 21s	$2.4M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Bitget. 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 BitgetbpFee tradeXYZbpOrdersPrice spread, now +0.045%Rate

Funding earned: $89.35
Price spread: +0.045% → −0.039%: $8.41
Slippage, 4 orders: −$57.5
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $10.27
Costs to cover: 0.875%
Break-even: 6.2 days

Slippage from Bitget: live order book, 64 min ago; tradeXYZ: live order book, 8 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 Bitget live order book, 64 min ago	8.00 bp	24.8 bp −$25	39.3 bp −$393	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 8 min ago	2.72 bp	13.1 bp −$13	22.8 bp −$228	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	−0.0674%	4h	62.589	+0.111%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0165%	8h	62.430	−0.144%	$779K	$638K	20x	as long as short
BloFin XLE-USDT	0.0000%	8h	62.530	+0.016%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.574	+0.086%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.598	+0.125%	$797K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.540	+0.032%	$323K	$208K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.530	+0.016%	$299K	$564K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.590	+0.112%	$61K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.570	+0.080%	$219K	$103K	20x	as long as short
Bitget XLEUSDTlong	0.0000%	8h	62.520	long leg	$94K	$90K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	62.584	+0.102%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.591	+0.114%	$2K	$5.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.498	−0.035%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.580	+0.096%	$1.2M	$6.0M	30x	as long as short
GRVT XLE_USDT_Perp	+0.0179%	8h	62.590	+0.113%	$13K	$175K	10x	as long as short
tradeXYZ xyz:XLEshort	+0.0425%	1h	62.548	+0.045%	$2.4M	$3.9M	20x