Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.027%

Price spread now: tradeXYZ against HTX−0.166%7-day average — · you buy dearer than you sell

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

Long on HTX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Funding pays, the price is against you. tradeXYZ is 0.166% cheaper against HTX than usual: you would sell low and buy high (spread −0.166% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 11 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XLE-USDT	62.550	0	get 0.0000% / 8h	5h 21m	$5K	$34K	10x
Short	tradeXYZ xyz:XLE	62.446	0.0050	get 0.0006% / 1h	21m 54s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against HTX. 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 HTXbpFee tradeXYZbpOrdersPrice spread, now −0.166%Rate

Funding earned: $10.5
Price spread: −0.166% → 0.000%: −$16.63
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$36.13
Costs to cover: 0.300%
Break-even: 31.1 days

Slippage unknown: HTX: no order-book sample; tradeXYZ: live order book, 5 min ago. 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 HTX no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 5 min ago	5.28 bp	18.3 bp −$18	22.5 bp −$225	doesn't fit	doesn't fit

HTX: 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
edgeX XLEUSDC	−0.0443%	4h	62.462	−0.140%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0315%	8h	62.380	−0.272%	$794K	$649K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.472	−0.125%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.469	−0.129%	$795K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.450	−0.160%	$322K	$206K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.450	−0.160%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.450	−0.160%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.460	−0.144%	$219K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.490	−0.096%	$95K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.467	−0.132%	$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	62.461	−0.142%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.461	−0.142%	$2K	$4.7M	10x	as long as short
HTX XLE-USDTlong	0.0000%	8h	62.550	long leg	$5K	$34K	10x
BloFin XLE-USDT	+0.0029%	8h	62.450	−0.160%	$14K	$9K	20x	as long as short
tradeXYZ xyz:XLEshort	+0.0050%	1h	62.446	−0.166%	$2.4M	$3.8M	20x
QFEX XLE-USD	+0.0057%	1h	62.460	−0.144%	$1.2M	$5.2M	30x	as long as short