Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0156%/8h= −17.0% APRpaid last 24h +0.051%

Price spread now: Variational Omni against tradeXYZ+0.093%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.093% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:XLE	62.526	0.0156	pay 0.0019% / 1h	59m 31s	$2.4M	$3.9M	20x
Short	Variational Omni XLE	62.584	0	get 0.0000% / 8h	6h 59m	$44K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.093%Rate

Funding earned: −$32.69
Price spread: +0.093% → 0.000%: $9.28
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$41.4
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 9 min ago; Variational Omni: 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 tradeXYZ live order book, 9 min ago	2.72 bp	13.7 bp −$14	44.5 bp −$445	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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	−0.0674%	4h	62.589	+0.102%	$48K	$210K	10x	as long as short
KuCoin XLEUSDTM	−0.0162%	8h	62.430	−0.154%	$779K	$638K	20x	as long as short
BloFin XLE-USDT	0.0000%	8h	62.530	+0.006%	$58K	$9K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	62.576	+0.079%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	62.590	+0.102%	$797K	$1.1M	20x	as long as short
Bybit XLEUSDT	0.0000%	8h	62.530	+0.006%	$323K	$208K	25x	as long as short
OKX XLE-USDT-SWAP	0.0000%	8h	62.530	+0.006%	$299K	$564K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	62.580	+0.086%	$61K	$11K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	62.560	+0.054%	$219K	$85K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	62.520	−0.010%	$94K	$90K	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 XLEshort	0.0000%	8h	62.584	+0.093%	$44K	$15K	—
SunX XLE-USDT	0.0000%	8h	62.606	+0.128%	$2K	$5.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	62.538	+0.019%	$5K	$34K	10x	as long as short
QFEX XLE-USD	+0.0043%	1h	62.570	+0.070%	$1.2M	$6.0M	30x	as long as short
tradeXYZ xyz:XLElong	+0.0156%	1h	62.526	long leg	$2.4M	$3.9M	20x
GRVT XLE_USDT_Perp	+0.0187%	8h	62.590	+0.102%	$13K	$175K	10x	as long as short