Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0418%/8h= +45.8% APRpaid last 24h −0.030%

Price spread now: tradeXYZ against KuCoin+0.125%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$472as in the Funding arb table

Net, price: spread back to 7d avg − costs−$470as in the Price arb table

costs, in and out, $10k−$4844.835% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)−0.327%−$33 · spread now +0.125%, 7d avg −0.008%

Together, before fees−0.214%+ Points / potential airdroptradeXYZ: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and tradeXYZ is 0.133% dearer against KuCoin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.008%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% 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	KuCoin XLEUSDTM	62.400	−0.0262	get 0.0262% / 8h	4h 58m	$792K	$646K	20x
Short	tradeXYZ xyz:XLE	62.478	0.0156	get 0.0020% / 1h	58m 55s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against KuCoin. 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 KuCoinbpFee tradeXYZbpOrdersPrice spread, now +0.125%Rate

Funding earned: $87.8
Price spread: +0.125% → −0.008%: $13.32
Slippage, 4 orders: −$453.55
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$382.43
Costs to cover: 4.835%
Break-even: 37.5 days

Slippage from KuCoin: live order book, 35 min ago; tradeXYZ: live order book, 9 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 KuCoin live order book, 35 min ago	5.62 bp	302.7 bp −$303	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	5.60 bp	18.6 bp −$19	22.6 bp −$226	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 XLEUSDTMlong	−0.0262%	8h	62.400	long leg	$792K	$646K	20x
BloFin XLE-USDT	−0.0028%	8h	62.510	+0.176%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.477	+0.124%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.511	+0.178%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.470	+0.112%	$322K	$205K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.490	+0.144%	$299K	$557K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.480	+0.128%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.480	+0.128%	$219K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	+0.160%	$96K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.503	+0.165%	$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	62.490	+0.144%	$13K	$175K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.505	+0.168%	$2K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.597	+0.316%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0057%	1h	62.500	+0.160%	$1.2M	$4.9M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0156%	1h	62.478	+0.125%	$2.4M	$3.8M	20x
edgeX XLEUSDC	+0.0712%	4h	62.501	+0.161%	$48K	$210K	10x	as long as short