Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0057%/8h= +6.3% APRpaid last 24h +0.006%

Price spread now: QFEX against SunX−0.032%7-day average +0.014% · you buy dearer than you sell

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

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.032%, 7d avg +0.014%

Together, before fees+0.095%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.046% cheaper against SunX than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.014%). If the spread goes back, that is −$5 on $10k: about 2.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XLE-USDT	62.510	0	get 0.0000% / 8h	5h 01m	$2K	$4.7M	10x
Short	QFEX XLE-USD	62.490	0.0057	get 0.0007% / 1h	1m 19s	$1.2M	$4.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $12
Price spread: −0.032% → +0.014%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$10.57
Costs to cover: 0.180%
Break-even: 13.2 days

Slippage unknown: SunX: live order book, 7 min ago; QFEX: live order book, 7 min ago. 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 SunX live order book, 7 min ago	48.64 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	29.61 bp	62.2 bp −$62	doesn't fit	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
KuCoin XLEUSDTM	−0.0266%	8h	62.430	−0.128%	$794K	$645K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.482	−0.044%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.517	+0.012%	$795K	$1.0M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.490	−0.032%	$322K	$205K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.490	−0.032%	$299K	$558K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.480	−0.048%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.500	−0.016%	$219K	$88K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.500	−0.016%	$96K	$81K	20x	as long as short
Variational Omni XLE	0.0000%	8h	62.493	−0.027%	$44K	$14K	—	as long as short
GRVT XLE_USDT_Perp	0.0000%	8h	62.487	−0.036%	$14K	$175K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX XLE-USDTlong	0.0000%	8h	62.510	long leg	$2K	$4.7M	10x
HTX XLE-USDT	0.0000%	8h	62.576	+0.106%	$5K	$34K	10x	as long as short
BloFin XLE-USDT	+0.0007%	8h	62.510	0.000%	$58K	$9K	20x	as long as short
tradeXYZ xyz:XLE	+0.0050%	1h	62.478	−0.051%	$2.4M	$3.8M	20x	as long as short
QFEX XLE-USDshort	+0.0057%	1h	62.490	−0.032%	$1.2M	$4.9M	30x
edgeX XLEUSDC	+0.0646%	4h	62.501	−0.015%	$48K	$210K	10x	as long as short