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 MEXC+0.032%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1221.216% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.032%, 7d avg −0.037%

Together, before fees−0.107%−$11 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 0.069% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XLE_USDT	62.510	0	get 0.0000% / 8h	3h 43m	$219K	$86K	20x
Short	Bybit XLEUSDT	62.530	0	get 0.0000% / 8h	3h 43m	$323K	$201K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → −0.037%: $6.87
Slippage, 4 orders: −$110.58
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$114.71
Costs to cover: 1.216%
Break-even: never at this rate

Slippage from MEXC: live order book, 56 min ago; Bybit: live order book, 1 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 MEXC live order book, 56 min ago	5.60 bp	13.4 bp −$13	94.0 bp −$940	221.7 bp −$22.2K	doesn't fit
Sell Bybit live order book, 1 min ago	2.40 bp	83.4 bp −$83	225.4 bp −$2,254	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 XLEUSDC	−0.0523%	4h	62.541	+0.049%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0281%	8h	62.360	−0.240%	$795K	$645K	20x	as long as short
BloFin XLE-USDT	−0.0013%	8h	62.430	−0.128%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.507	−0.005%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.520	+0.016%	$791K	$1.0M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	62.530	+0.032%	$323K	$201K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	62.530	+0.032%	$300K	$559K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.510	0.000%	$64K	$12K	20x	as long as short
MEXC XLE_USDTlong	0.0000%	8h	62.510	long leg	$219K	$86K	20x
Bitget XLEUSDT	0.0000%	8h	62.500	−0.016%	$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	62.534	+0.038%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.536	+0.041%	$13K	$174K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.537	+0.043%	$1K	$4.6M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.620	+0.176%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0026%	1h	62.500	−0.016%	$1.2M	$4.4M	30x	as long as short
tradeXYZ xyz:XLE	+0.0391%	1h	62.477	−0.053%	$2.4M	$3.8M	20x	as long as short