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: Variational Omni against Bybit+0.118%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.118% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XLEUSDT	62.690	0	get 0.0000% / 8h	1h 26m	$323K	$201K	25x
Short	Variational Omni XLE	62.764	0	get 0.0000% / 8h	1h 26m	$44K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → 0.000%: $11.81
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.81
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 8 min ago; Variational Omni: no order-book sample. Net counts fees only.

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, 8 min ago	3.98 bp	12.9 bp −$13	150.9 bp −$1,509	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0245%	8h	62.570	−0.191%	$808K	$694K	20x	as long as short
BloFin XLE-USDT	−0.0023%	8h	62.670	−0.032%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.716	+0.042%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.700	+0.016%	$794K	$1.0M	20x	as long as short
Bybit XLEUSDTlong	0.0000%	8h	62.690	long leg	$323K	$201K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.620	−0.112%	$301K	$566K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	+0.016%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.710	+0.032%	$220K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.730	+0.064%	$95K	$87K	20x	as long as short
Variational Omni XLEshort	0.0000%	8h	62.764	+0.118%	$44K	$15K	—

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	62.768	+0.124%	$13K	$168K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.706	+0.026%	$1K	$4.4M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.634	−0.089%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0031%	1h	62.710	+0.032%	$1.2M	$4.1M	30x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.687	−0.005%	$2.4M	$3.8M	20x	as long as short
edgeX XLEUSDC	+0.0881%	4h	62.724	+0.054%	$48K	$208K	10x	as long as short