Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0493%/8h= +54.0% APRpaid last 24h +0.006%

Price spread now: tradeXYZ against edgeX−0.024%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$700.702% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.024%, 7d avg −0.080%

Together, before fees−0.052%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and tradeXYZ is 0.056% dearer against edgeX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.080%. Mind the row above: over the last 7 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.073% in total (about -3.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XLEUSDC	62.462	−0.0443	get 0.0222% / 4h	1h 23m	$48K	$209K	10x
Short	tradeXYZ xyz:XLE	62.447	0.0050	get 0.0006% / 1h	23m 19s	$2.4M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against edgeX. 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 edgeXbpFee tradeXYZbpOrdersPrice spread, now −0.024%Rate

Funding earned: $103.55
Price spread: −0.024% → −0.080%: $5.55
Slippage, 4 orders: −$43.2
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $38.91
Costs to cover: 0.702%
Break-even: 4.4 days

Slippage from edgeX: live order book, 38 min ago; tradeXYZ: live order book, 4 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 edgeX live order book, 38 min ago	8.80 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	5.28 bp	18.3 bp −$18	22.5 bp −$225	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 XLEUSDClong	−0.0443%	4h	62.462	long leg	$48K	$209K	10x
KuCoin XLEUSDTM	−0.0317%	8h	62.360	−0.164%	$793K	$649K	20x	as long as short
BloFin XLE-USDT	−0.0018%	8h	62.460	−0.004%	$14K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.465	+0.004%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.467	+0.008%	$795K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.440	−0.036%	$322K	$206K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.450	−0.020%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.460	−0.004%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.460	−0.004%	$219K	$87K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.490	+0.044%	$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	+0.008%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.461	−0.002%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.461	−0.002%	$1K	$4.7M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.550	+0.141%	$5K	$34K	10x	as long as short
tradeXYZ xyz:XLEshort	+0.0050%	1h	62.447	−0.024%	$2.4M	$3.8M	20x
QFEX XLE-USD	+0.0057%	1h	62.460	−0.004%	$1.2M	$5.3M	30x	as long as short