Funding arb · Price arb /

XLE

RWAall XLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.011%

Price spread now: Gate against QFEX−0.081%55s7-day average — · you buy dearer than you sell

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

Long on QFEX Short on Gate

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.081% cheaper against QFEX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX XLE-USD	61.910	0.0058	pay 0.0007% / 1h	46m 38s	$1.2M	$4.1M	30x
Short	Gate XLE_USDT	61.860	0	get 0.0000% / 8h	5h 46m	$64K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.081%Rate

Funding earned: −$12.25
Price spread: −0.081% → 0.000%: −$8.08
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$45.32
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 5 min ago; Gate: 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, 5 min ago	25.84 bp	35.5 bp −$36	43.2 bp −$432	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

Gate: 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 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
KuCoin XLEUSDTM	−0.0360%	8h	62.040	+0.210%	$1.0M	$920K	20x	as long as short
edgeX XLEUSDC	−0.0147%	4h	61.925	+0.023%	$48K	$208K	10x	as long as short
BloFin XLE-USDT	−0.0005%	8h	61.890	−0.032%	$59K	$10K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	61.953	+0.070%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	61.920	+0.016%	$772K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	61.900	−0.016%	$309K	$216K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	61.880	−0.048%	$294K	$483K	20x	as long as short
Gate XLE_USDTshort	0.0000%	8h	61.860	−0.081%	$64K	$12K	20x
MEXC XLE_USDT	0.0000%	8h	61.900	−0.016%	$221K	$84K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	61.910	0.000%	$94K	$74K	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	61.929	+0.031%	$44K	$10K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	61.940	+0.048%	$13K	$143K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	61.947	+0.060%	$2K	$3.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	61.860	−0.081%	$5K	$35K	10x	as long as short
QFEX XLE-USDlong	+0.0058%	1h	61.910	long leg	$1.2M	$4.1M	30x
tradeXYZ xyz:XLE	+0.0159%	1h	61.857	−0.086%	$2.3M	$4.1M	20x	as long as short