Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h −0.007%

Price spread now: Bitget against QFEX−0.016%56s7-day average — · you buy dearer than you sell

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

Long on QFEX Short on Bitget

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	62.600	0.0026	pay 0.0003% / 1h	16m 38s	$1.2M	$4.2M	30x
Short	Bitget XLEUSDT	62.590	0	get 0.0000% / 8h	3h 16m	$95K	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$5.49
Price spread: −0.016% → 0.000%: −$1.6
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 7 min ago; Bitget: 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 QFEX live order book, 7 min ago	27.97 bp	34.6 bp −$35	41.6 bp −$416	doesn't fit	doesn't fit
Sell Bitget no order-book sample	—	—	—	—	—

Bitget: 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	−0.0282%	8h	62.450	−0.240%	$800K	$645K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.563	−0.059%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.620	+0.032%	$791K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.590	−0.016%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.580	−0.032%	$300K	$560K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.530	−0.112%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.600	0.000%	$219K	$87K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.590	−0.016%	$95K	$81K	20x
Variational Omni XLE	0.0000%	8h	62.574	−0.041%	$44K	$15K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.599	−0.002%	$13K	$174K	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	62.627	+0.043%	$1K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.498	−0.163%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0003%	8h	62.580	−0.032%	$58K	$9K	20x	as long as short
QFEX XLE-USDlong	+0.0026%	1h	62.600	long leg	$1.2M	$4.2M	30x
tradeXYZ xyz:XLE	+0.0180%	1h	62.567	−0.053%	$2.4M	$3.8M	20x	as long as short
edgeX XLEUSDC	+0.0534%	4h	62.571	−0.046%	$48K	$209K	10x	as long as short