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: MEXC against Bybit0.000%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1211.208% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now 0.000%, 7d avg +0.037%

Together, before fees+0.047%+$5 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: MEXC is 0.037% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.440	0	get 0.0000% / 8h	5h 50m	$322K	$207K	25x
Short	MEXC XLE_USDT	62.440	0	get 0.0000% / 8h	5h 50m	$219K	$86K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.037%: −$3.7
Slippage, 4 orders: −$109.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: −$124.5
Costs to cover: 1.208%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; MEXC: 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 Bybit live order book, 3 min ago	4.01 bp	19.3 bp −$19	201.9 bp −$2,019	doesn't fit	doesn't fit
Sell MEXC live order book, 58 min ago	7.19 bp	14.2 bp −$14	114.3 bp −$1,143	209.6 bp −$21.0K	doesn't fit

XLE on 15 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	−0.0271%	8h	62.300	−0.224%	$791K	$649K	20x	as long as short
edgeX XLEUSDC	−0.0270%	4h	62.440	+0.001%	$48K	$209K	10x	as long as short
Aster XLEUSDT	0.0000%	8h	62.445	+0.008%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.451	+0.018%	$796K	$1.1M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.440	long leg	$322K	$207K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.400	−0.064%	$299K	$559K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.440	0.000%	$61K	$11K	20x	as long as short
MEXC XLE_USDTshort	0.0000%	8h	62.440	0.000%	$219K	$86K	20x
Bitget XLEUSDT	0.0000%	8h	62.480	+0.064%	$95K	$85K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.443	+0.005%	$44K	$14K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.480	+0.064%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.453	+0.021%	$2K	$4.8M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.541	+0.162%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.419	−0.034%	$2.4M	$3.8M	20x	as long as short
QFEX XLE-USD	+0.0057%	1h	62.460	+0.032%	$1.2M	$5.9M	30x	as long as short