Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.3% APRpaid last 24h −0.008%

Price spread now: Bitget against QFEX+0.032%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Bitget is 0.032% dearer against QFEX than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	62.710	0.0040	pay 0.0005% / 1h	5m 12s	$1.2M	$4.2M	30x
Short	Bitget XLEUSDT	62.730	0	get 0.0000% / 8h	2h 05m	$95K	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against QFEX. 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 QFEXbpFee BitgetbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$8.32
Price spread: +0.032% → 0.000%: $3.19
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$27.13
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; Bitget: no order-book sample. 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 QFEX live order book, 3 min ago	3.98 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bitget no order-book sample	—	—	—	—	—

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
edgeX XLEUSDC	−0.0238%	4h	62.743	+0.053%	$48K	$209K	10x	as long as short
KuCoin XLEUSDTM	−0.0219%	8h	62.620	−0.144%	$805K	$692K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.714	+0.006%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.700	−0.016%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.710	0.000%	$323K	$202K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.670	−0.064%	$301K	$577K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.700	−0.016%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.720	+0.016%	$220K	$88K	20x	as long as short
Bitget XLEUSDTshort	0.0000%	8h	62.730	+0.032%	$95K	$81K	20x
Variational Omni XLE	0.0000%	8h	62.719	+0.014%	$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	62.780	+0.112%	$13K	$170K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	62.715	+0.008%	$2K	$4.5M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.653	−0.091%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0018%	8h	62.720	+0.016%	$58K	$9K	20x	as long as short
QFEX XLE-USDlong	+0.0040%	1h	62.710	long leg	$1.2M	$4.2M	30x
tradeXYZ xyz:XLE	+0.0050%	1h	62.690	−0.032%	$2.4M	$3.8M	20x	as long as short