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: Binance against tradeXYZ+0.034%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.765%−$77 on $10k

Price spread, last 7 days+0.041%+$4 · spread now +0.034%, 7d avg +0.091%

Together, before fees−0.724%+ Points / potential airdroptradeXYZ: Active · farm board−$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.057% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.091%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.447	0.0050	pay 0.0006% / 1h	23m 29s	$2.4M	$3.8M	20x
Short	Binance XLEUSDT	62.468	0	get 0.0000% / 8h	5h 23m	$795K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now +0.034%Rate

Funding earned: −$10.5
Price spread: +0.034% → +0.091%: −$5.67
Slippage, 4 orders: −$48.57
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$92.74
Costs to cover: 0.766%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; Binance: 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 tradeXYZ live order book, 4 min ago	5.28 bp	18.5 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	2.40 bp	15.8 bp −$16	77.7 bp −$777	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
edgeX XLEUSDC	−0.0443%	4h	62.462	+0.024%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0317%	8h	62.350	−0.155%	$793K	$649K	20x	as long as short
BloFin XLE-USDT	−0.0018%	8h	62.460	+0.021%	$14K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.463	+0.025%	$4K	$9K	20x	as long as short
Binance XLEUSDTshort	0.0000%	8h	62.468	+0.034%	$795K	$1.1M	20x
Bybit XLEUSDT	0.0000%	8h	62.440	−0.011%	$322K	$206K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.450	+0.005%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.450	+0.005%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.460	+0.021%	$219K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.490	+0.069%	$95K	$81K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	62.467	+0.032%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.461	+0.023%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.466	+0.030%	$2K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.480	+0.053%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLElong	+0.0050%	1h	62.447	long leg	$2.4M	$3.8M	20x
QFEX XLE-USD	+0.0057%	1h	62.460	+0.021%	$1.2M	$5.3M	30x	as long as short