Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0646%/8h= −70.8% APRpaid last 24h +0.033%

Price spread now: Bybit against edgeX−0.001%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$127as in the Price arb table

costs, in and out, $10k−$1311.310% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$22 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.001%, 7d avg −0.040%

Together, before fees−0.123%+ Points / potential airdropedgeX: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.039% dearer against edgeX than usual: you sell high and buy low (spread −0.001% now, against its 7-day average of −0.040%): +$4 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.215% in total) that is about 30 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.215% in total (about -11.2% 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	edgeX XLEUSDC	62.501	0.0646	pay 0.0323% / 4h	1h 02m	$48K	$210K	10x
Short	Bybit XLEUSDT	62.500	0	get 0.0000% / 8h	5h 02m	$322K	$204K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$135.69
Price spread: −0.001% → −0.040%: $3.89
Slippage, 4 orders: −$111
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$262.8
Costs to cover: 1.310%
Break-even: never at this rate

Slippage from edgeX: live order book, 59 min ago; Bybit: live order book, 51 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 edgeX live order book, 59 min ago	8.80 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 51 min ago	4.01 bp	78.3 bp −$78	233.2 bp −$2,332	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	−0.0271%	8h	62.430	−0.113%	$794K	$646K	20x	as long as short
BloFin XLE-USDT	−0.0014%	8h	62.400	−0.161%	$14K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.486	−0.024%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.518	+0.028%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.500	−0.001%	$322K	$204K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.490	−0.017%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.480	−0.033%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.490	−0.017%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.510	+0.015%	$96K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.493	−0.013%	$44K	$14K	—	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	62.482	−0.030%	$14K	$175K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.510	+0.015%	$2K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.475	−0.041%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.478	−0.036%	$2.4M	$3.8M	20x	as long as short
QFEX XLE-USD	+0.0057%	1h	62.500	−0.001%	$1.2M	$4.9M	30x	as long as short
edgeX XLEUSDClong	+0.0646%	4h	62.501	long leg	$48K	$210K	10x