Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h −0.009%

Price spread now: tradeXYZ against Variational Omni−0.003%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

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—+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm boardneeds 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: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XLE	62.524	0	get 0.0000% / 8h	3h 37m	$44K	$14K	—
Short	tradeXYZ xyz:XLE	62.522	0.0308	get 0.0039% / 1h	37m 05s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Variational Omni. 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 Variational OmnibpFee tradeXYZbpOrdersPrice spread, now −0.003%Rate

Funding earned: $64.69
Price spread: −0.003% → 0.000%: −$0.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $46.37
Costs to cover: 0.180%
Break-even: 2.0 days

Slippage unknown: Variational Omni: no order-book sample; tradeXYZ: live order book, 1 min ago. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 1 min ago	3.28 bp	16.8 bp −$17	29.4 bp −$294	doesn't fit	doesn't fit

Variational Omni: 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
edgeX XLEUSDC	−0.0836%	4h	62.529	+0.007%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0280%	8h	62.380	−0.230%	$795K	$644K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.517	−0.012%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.570	+0.073%	$792K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.530	+0.010%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.570	+0.073%	$300K	$559K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.520	−0.006%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	+0.057%	$219K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	−0.038%	$95K	$81K	20x	as long as short
Variational Omni XLElong	0.0000%	8h	62.524	long leg	$44K	$14K	—

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	62.541	+0.027%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.586	+0.099%	$1K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.489	−0.056%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0007%	8h	62.580	+0.089%	$58K	$9K	20x	as long as short
QFEX XLE-USD	+0.0026%	1h	62.500	−0.038%	$1.2M	$4.4M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0308%	1h	62.522	−0.003%	$2.4M	$3.8M	20x