Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.005%

Price spread now: tradeXYZ against Bybit−0.078%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1441.436% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.078%, 7d avg −0.042%

Together, before fees+0.131%+ Points / potential airdroptradeXYZ: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of −0.042%). If the spread goes back, that is −$4 on $10k: about 42 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.820	0	get 0.0000% / 8h	31m 09s	$322K	$202K	25x
Short	tradeXYZ xyz:XLE	62.771	0.0069	get 0.0009% / 1h	31m 09s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.078%Rate

Funding earned: $14.39
Price spread: −0.078% → −0.042%: −$3.56
Slippage, 4 orders: −$114.61
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$132.77
Costs to cover: 1.436%
Break-even: 71.6 days

Slippage from Bybit: live order book, 63 min ago; tradeXYZ: live order book, 7 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, 63 min ago	3.98 bp	12.9 bp −$13	150.9 bp −$1,509	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	2.79 bp	15.7 bp −$16	doesn't fit	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
KuCoin XLEUSDTM	−0.0289%	8h	62.670	−0.239%	$819K	$729K	20x	as long as short
BloFin XLE-USDT	−0.0024%	8h	62.730	−0.143%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.798	−0.036%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.873	+0.085%	$793K	$923K	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.820	long leg	$322K	$202K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.820	0.000%	$301K	$539K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.191%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.780	−0.064%	$220K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.830	+0.016%	$95K	$82K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.878	+0.092%	$44K	$15K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	62.834	+0.023%	$13K	$163K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.868	+0.076%	$1K	$3.9M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.717	−0.164%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0033%	1h	62.800	−0.032%	$1.2M	$4.0M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0069%	1h	62.771	−0.078%	$2.4M	$3.8M	20x
edgeX XLEUSDC	+0.0640%	4h	62.866	+0.073%	$48K	$209K	10x	as long as short