Funding arb · Price arb /

XLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.146%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.146% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XLE	61.850	0	get 0.0000% / 8h	5h 06m	$44K	$10K	—
Short	Bybit XLEUSDT	61.760	0	get 0.0000% / 8h	5h 06m	$307K	$219K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → 0.000%: −$14.63
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$25.63
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 31 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Bybit live order book, 31 min ago	2.42 bp	33.5 bp −$33	187.0 bp −$1,870	doesn't fit	doesn't fit

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 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 XLEUSDC	−0.0359%	4h	61.847	−0.006%	$48K	$208K	10x	as long as short
KuCoin XLEUSDTM	−0.0161%	8h	61.840	−0.017%	$1.0M	$959K	20x	as long as short
Aster XLEUSDT	0.0000%	8h	61.856	+0.008%	$4K	$9K	20x	as long as short
Binance XLEUSDT	0.0000%	8h	61.830	−0.033%	$770K	$1.0M	20x	as long as short
Bybit XLEUSDTshort	0.0000%	8h	61.760	−0.146%	$307K	$219K	25x
OKX XLE-USDT-SWAP	0.0000%	8h	61.750	−0.162%	$292K	$476K	20x	as long as short
Gate XLE_USDT	0.0000%	8h	61.820	−0.049%	$64K	$12K	20x	as long as short
MEXC XLE_USDT	0.0000%	8h	61.810	−0.065%	$221K	$86K	20x	as long as short
Bitget XLEUSDT	0.0000%	8h	61.820	−0.049%	$98K	$75K	20x	as long as short
Variational Omni XLElong	0.0000%	8h	61.850	long leg	$44K	$10K	—

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XLE_USDT_Perp	0.0000%	8h	61.880	+0.048%	$14K	$141K	10x	as long as short
SunX XLE-USDT	0.0000%	8h	61.806	−0.072%	$2K	$3.1M	10x	as long as short
HTX XLE-USDT	0.0000%	8h	61.728	−0.198%	$5K	$35K	10x	as long as short
BloFin XLE-USDT	+0.0006%	8h	61.780	−0.114%	$59K	$10K	20x	as long as short
tradeXYZ xyz:XLE	+0.0053%	1h	61.758	−0.149%	$2.3M	$4.1M	20x	as long as short
QFEX XLE-USD	+0.0058%	1h	61.800	−0.082%	$1.2M	$4.2M	30x	as long as short