Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h +0.005%

Price spread now: QFEX against Bybit−0.032%7-day average +0.061% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1121.119% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.032%, 7d avg +0.061%

Together, before fees+0.025%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.093% cheaper against Bybit than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.061%). If the spread goes back, that is −$9 on $10k: about 6.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.550	0	get 0.0000% / 8h	6h 35m	$323K	$208K	25x
Short	QFEX XLE-USD	62.530	0.0047	get 0.0006% / 1h	35m 20s	$1.2M	$6.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $9.9
Price spread: −0.032% → +0.061%: −$9.31
Slippage, 4 orders: −$90.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$111.28
Costs to cover: 1.119%
Break-even: 85.7 days

Slippage from Bybit: live order book, 24 min ago; QFEX: live order book, 3 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, 24 min ago	3.20 bp	13.0 bp −$13	189.0 bp −$1,890	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	3.20 bp	9.9 bp −$10	16.9 bp −$169	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	−0.0813%	4h	62.568	+0.028%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0208%	8h	62.420	−0.208%	$788K	$651K	20x	as long as short
BloFin XLE-USDT	−0.0018%	8h	62.510	−0.064%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.568	+0.029%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.586	+0.057%	$798K	$1.1M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.550	long leg	$323K	$208K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.570	+0.032%	$299K	$566K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.590	+0.064%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.590	+0.064%	$219K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.560	+0.016%	$95K	$90K	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	62.580	+0.048%	$44K	$15K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.586	+0.058%	$2K	$5.0M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.642	+0.147%	$5K	$34K	10x	as long as short
QFEX XLE-USDshort	+0.0047%	1h	62.530	−0.032%	$1.2M	$6.0M	30x
GRVT XLE_USDT_Perp	+0.0074%	8h	62.579	+0.046%	$13K	$175K	10x	as long as short
tradeXYZ xyz:XLE	+0.0129%	1h	62.532	−0.029%	$2.4M	$3.9M	20x	as long as short