Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h −0.063%

Price spread now: edgeX against QFEX−0.043%57s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.514% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.043%, 7d avg −0.019%

Together, before fees−0.022%+ Points / potential airdropedgeX: Active · farm board−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.024% cheaper against QFEX than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of −0.019%). If the spread goes back, that is −$2 on $10k: about 2.1 days of funding at the current rate (+$1 a day). The two prices were read 57 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	62.720	0.0060	pay 0.0007% / 1h	20m 30s	$1.2M	$4.1M	30x
Short	edgeX XLEUSDC	62.693	0.0097	get 0.0049% / 4h	3h 20m	$48K	$208K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $7.92
Price spread: −0.043% → −0.019%: −$2.36
Slippage, 4 orders: −$32.36
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$45.79
Costs to cover: 0.514%
Break-even: 47.5 days

Slippage from QFEX: live order book, 3 min ago; edgeX: live order book, 11 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 QFEX live order book, 3 min ago	3.99 bp	9.8 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 11 min ago	7.98 bp	15.0 bp −$15	doesn't fit	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	−0.0295%	8h	62.560	−0.255%	$831K	$809K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.722	+0.003%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.706	−0.023%	$782K	$954K	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.680	−0.064%	$320K	$203K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.640	−0.128%	$299K	$482K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.680	−0.064%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.700	−0.032%	$220K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.750	+0.048%	$97K	$66K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.696	−0.038%	$44K	$13K	—	as long as short
SunX XLE-USDT	0.0000%	8h	62.702	−0.029%	$1K	$3.5M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX XLE-USDT	0.0000%	8h	62.546	−0.277%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0017%	8h	62.670	−0.080%	$59K	$9K	20x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.653	−0.107%	$2.3M	$3.8M	20x	as long as short
QFEX XLE-USDlong	+0.0060%	1h	62.720	long leg	$1.2M	$4.1M	30x
edgeX XLEUSDCshort	+0.0097%	4h	62.693	−0.043%	$48K	$208K	10x
GRVT XLE_USDT_Perp	+0.0662%	8h	62.681	−0.063%	$13K	$152K	10x	as long as short