Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.005%

Price spread now: tradeXYZ against Bitget−0.198%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.198% cheaper against Bitget than usual: you would sell low and buy high (spread −0.198% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 13 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XLEUSDT	62.720	0	get 0.0000% / 8h	3m 32s	$95K	$80K	20x
Short	tradeXYZ xyz:XLE	62.596	0.0050	get 0.0006% / 1h	3m 32s	$2.3M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.198%Rate

Funding earned: $10.5
Price spread: −0.198% → 0.000%: −$19.77
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$39.27
Costs to cover: 0.300%
Break-even: 33.2 days

Slippage unknown: Bitget: no order-book sample; tradeXYZ: live order book, 5 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 tradeXYZ live order book, 5 min ago	4.63 bp	19.6 bp −$20	doesn't fit	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 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	−0.0336%	8h	62.560	−0.255%	$828K	$784K	20x	as long as short
BloFin XLE-USDT	−0.0003%	8h	62.650	−0.112%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.722	+0.004%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.702	−0.028%	$789K	$977K	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.660	−0.096%	$320K	$204K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.650	−0.112%	$301K	$523K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.032%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.670	−0.080%	$219K	$88K	20x	as long as short
Bitget XLEUSDTlong	0.0000%	8h	62.720	long leg	$95K	$80K	20x
Variational Omni XLE	0.0000%	8h	62.737	+0.026%	$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	62.770	+0.080%	$13K	$160K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.717	−0.005%	$2K	$3.8M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.625	−0.151%	$5K	$35K	10x	as long as short
QFEX XLE-USD	+0.0033%	1h	62.690	−0.048%	$1.2M	$4.0M	30x	as long as short
tradeXYZ xyz:XLEshort	+0.0050%	1h	62.596	−0.198%	$2.3M	$3.8M	20x
edgeX XLEUSDC	+0.0886%	4h	62.752	+0.052%	$48K	$209K	10x	as long as short