Energy ETF (XLE) (XLE)
Perp: XLE on HL · Hedge: XLE (ETF)
Hedge construction note: XLE (ETF) is used as a hedge proxy for Energy ETF (XLE); treat it as a research reference, not an ordinary executable quote for the underlying market.
This is a transformed/normalized reference, not an ordinary executable quote.
Funding (ann.)
+5.5%
Basis
+0.58%
Open interest
$1,998,199
Status
delayed
Research note: funding below research threshold
Funding rate — annualized, 1738 settlement snapshots
Timezone: UTC · Units: % annualized · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-09-15T09:30:02+00:00
Basis — (perp mark − hedge) / hedge
Timezone: UTC · Units: % · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-09-15T09:30:02+00:00
Open interest — historical liquidity
Timezone: UTC · Units: USD notional · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-09-15T09:30:02+00:00
Persistence
2% of snapshots over the trailing 168h met the research condition: FR >= 100% APR, 7-day window.
Relevant paper trades
| Opened | Direction | Status | Net P&L | All-in P&L | Close reason |
|---|---|---|---|---|---|
| 2026-06-05 04:32 UTC | short_hl_long_ib | closed | +$64.16 | — | emergency FR=-116% |
| 2026-06-03 06:33 UTC | short_hl_long_ib | closed | +$28.90 | — | emergency FR=-164% |
Known limitations
- The hedge leg only trades during its market's own hours; the perp trades 24/7 — see Methodology for how naked-leg windows are handled.
- Funding and basis figures are delayed, not real-time — see the status strip at the top of every page.
- XLE (ETF) is used as a hedge proxy for Energy ETF (XLE); treat it as a research reference, not an ordinary executable quote for the underlying market.