Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.008%

Price spread now: QFEX against Binance−0.016%7-day average −0.045% · 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−$161as in the Price arb table

costs, in and out, $10k−$1641.638% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.579%+$58 on $10k

Price spread, last 7 days−0.074%−$7 · spread now −0.016%, 7d avg −0.045%

Together, before fees+0.505%+$50 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.029% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XLEUSDT	62.800	0	get 0.0000% / 8h	1h 52m	$795K	$1.0M	20x
Short	QFEX XLE-USD	62.790	0.0031	get 0.0004% / 1h	52m 21s	$1.2M	$4.1M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.016%Rate

Funding earned: $6.43
Price spread: −0.016% → −0.045%: $2.88
Slippage, 4 orders: −$143.79
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$154.48
Costs to cover: 1.638%
Break-even: 175.1 days

Slippage from Binance: live order book, 10 min ago; QFEX: live order book, 6 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 Binance live order book, 10 min ago	3.19 bp	23.5 bp −$23	81.9 bp −$819	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	27.89 bp	60.6 bp −$61	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	−0.0219%	8h	62.610	−0.303%	$806K	$691K	20x	as long as short
BloFin XLE-USDT	0.0000%	8h	62.760	−0.064%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.729	−0.113%	$4K	$9K	20x	as long as short
Binance XLEUSDTlong	0.0000%	8h	62.800	long leg	$795K	$1.0M	20x
Bybit XLEUSDT	0.0000%	8h	62.790	−0.016%	$323K	$201K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.670	−0.207%	$301K	$575K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.159%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.770	−0.048%	$220K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.800	0.000%	$95K	$82K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.729	−0.113%	$44K	$15K	—	as long as short

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	62.790	−0.015%	$13K	$170K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.815	+0.024%	$2K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.651	−0.237%	$5K	$35K	10x	as long as short
QFEX XLE-USDshort	+0.0031%	1h	62.790	−0.016%	$1.2M	$4.1M	30x
tradeXYZ xyz:XLE	+0.0075%	1h	62.708	−0.146%	$2.4M	$3.8M	20x	as long as short
edgeX XLEUSDC	+0.0604%	4h	62.797	−0.005%	$48K	$208K	10x	as long as short