Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0690%/8h= −75.5% APRpaid last 24h −0.065%

Price spread now: edgeX against QFEX+0.027%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.033%+$3 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.027%, 7d avg −0.015%

Together, before fees−0.048%+ Points / potential airdropedgeX: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.042% dearer against QFEX than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.015%): +$4 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 5 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.033% in total (about 3.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	61.780	0.0057	pay 0.0007% / 1h	57m 34s	$1.2M	$4.3M	30x
Short	edgeX XLEUSDC	61.796	−0.0633	pay 0.0316% / 4h	57m 34s	$47K	$207K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$144.84
Price spread: +0.027% → −0.015%: $4.21
Slippage, 4 orders: −$28.9
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$188.53
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; edgeX: live order book, 47 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 QFEX live order book, 4 min ago	4.05 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 47 min ago	7.27 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit

XLE on 16 exchanges

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 XLEUSDCshort	−0.0633%	4h	61.796	+0.027%	$47K	$207K	10x
KuCoin XLEUSDTM	−0.0163%	8h	61.800	+0.032%	$1.0M	$959K	20x	as long as short
BloFin XLE-USDT	−0.0018%	8h	61.780	0.000%	$59K	$10K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	61.826	+0.074%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	61.840	+0.097%	$771K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	61.780	0.000%	$303K	$221K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	61.780	0.000%	$292K	$475K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	61.770	−0.016%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	61.830	+0.081%	$221K	$83K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	61.820	+0.065%	$98K	$71K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XLE	0.0000%	8h	61.774	−0.010%	$44K	$10K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	61.800	+0.032%	$14K	$141K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	61.871	+0.147%	$2K	$3.0M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	61.759	−0.034%	$5K	$35K	10x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	61.731	−0.079%	$2.3M	$4.1M	20x	as long as short
QFEX XLE-USDlong	+0.0057%	1h	61.780	long leg	$1.2M	$4.3M	30x