Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0159%/8h= +17.4% APRpaid last 24h −0.027%

Price spread now: tradeXYZ against MEXC−0.019%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$550.549% of the position

Long on MEXC Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$14 on $10k

Price spread, last 4 days (all we have)−0.214%−$21 · spread now −0.019%, 7d avg −0.081%

Together, before fees−0.069%+ Points / potential airdroptradeXYZ: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and tradeXYZ is 0.061% dearer against MEXC than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XLE_USDT	62.490	0	get 0.0000% / 8h	4h 59m	$219K	$85K	20x
Short	tradeXYZ xyz:XLE	62.478	0.0159	get 0.0020% / 1h	59m 35s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against MEXC. 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 MEXCbpFee tradeXYZbpOrdersPrice spread, now −0.019%Rate

Funding earned: $33.46
Price spread: −0.019% → −0.081%: $6.14
Slippage, 4 orders: −$36.9
Fee MEXC: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$15.31
Costs to cover: 0.549%
Break-even: 10.2 days

Slippage from MEXC: live order book, 45 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 MEXC live order book, 45 min ago	2.40 bp	10.5 bp −$10	83.3 bp −$833	209.4 bp −$20.9K	279.2 bp −$139.6K
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 XLEUSDTM	−0.0262%	8h	62.400	−0.144%	$792K	$646K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.477	−0.021%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.513	+0.037%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.470	−0.032%	$322K	$205K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.490	0.000%	$299K	$557K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.480	−0.016%	$61K	$11K	20x	as long as short
MEXC XLE_USDTlong	0.0000%	8h	62.490	long leg	$219K	$85K	20x
Bitget XLEUSDT	0.0000%	8h	62.500	+0.016%	$96K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.503	+0.021%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.490	0.000%	$13K	$175K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.510	+0.032%	$2K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.597	+0.171%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0007%	8h	62.510	+0.032%	$58K	$9K	20x	as long as short
QFEX XLE-USD	+0.0057%	1h	62.500	+0.016%	$1.2M	$4.9M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0159%	1h	62.478	−0.019%	$2.4M	$3.8M	20x
edgeX XLEUSDC	+0.0712%	4h	62.501	+0.017%	$48K	$210K	10x	as long as short