Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget−0.048%7-day average +0.006% · you buy dearer than you sell

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

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now −0.048%, 7d avg +0.006%

Together, before fees+0.024%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.054% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XLEUSDT	62.460	0	get 0.0000% / 8h	5h 54m	$95K	$85K	20x
Short	Bybit XLEUSDT	62.430	0	get 0.0000% / 8h	5h 54m	$322K	$207K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.006%: −$5.35
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.35
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bitget: no order-book sample; Bybit: live order book, 64 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 Bitget no order-book sample	—	—	—	—	—
Sell Bybit live order book, 64 min ago	3.20 bp	79.2 bp −$79	228.7 bp −$2,287	doesn't fit	doesn't fit

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 15 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	−0.0253%	8h	62.300	−0.256%	$792K	$651K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.448	−0.019%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.440	−0.032%	$797K	$1.1M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.430	−0.048%	$322K	$207K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.410	−0.080%	$299K	$560K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.450	−0.016%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.440	−0.032%	$219K	$85K	20x	as long as short
Bitget XLEUSDTlong	0.0000%	8h	62.460	long leg	$95K	$85K	20x
Variational Omni XLE	0.0000%	8h	62.450	−0.016%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.480	+0.032%	$13K	$175K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDT	0.0000%	8h	62.458	−0.003%	$2K	$4.8M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.478	+0.029%	$5K	$34K	10x	as long as short
edgeX XLEUSDC	+0.0010%	4h	62.450	−0.016%	$48K	$209K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.419	−0.066%	$2.4M	$3.8M	20x	as long as short
QFEX XLE-USD	+0.0057%	1h	62.470	+0.016%	$1.2M	$5.9M	30x	as long as short