Underlying Asset Performance: 3XT.F is a leveraged ETF, meaning its price is designed to move three times the daily percentage change of its underlying index or asset. Therefore, the most significant factor is the performance of that underlying asset. If the underlying asset goes up, 3XT.F is designed to go up three times as much, and vice versa.

Leverage Decay: Due to the daily rebalancing required to maintain its leverage, 3XT.F suffers from leverage decay. This means that over longer periods, especially in volatile markets, its performance can deviate significantly from three times the cumulative performance of the underlying asset. Volatility in the underlying asset erodes value, even if the asset ends up in the same place.

Interest Rates and Funding Costs: Maintaining leverage requires borrowing money. The interest rates associated with these borrowings directly impact the costs associated with running the ETF. Higher interest rates translate to higher costs, potentially impacting the ETF's returns and its price.

Supply and Demand: Like any traded security, the forces of supply and demand play a role. High demand can push the price up, while increased selling pressure can lower it. However, the impact is usually less pronounced than the factors above due to market makers and arbitrageurs.

ETF Management Fees and Expenses: The ETF issuer charges fees to manage the fund. These fees are deducted from the fund's assets, reducing the overall return and potentially impacting its price relative to its theoretically leveraged return.

Market Sentiment: General market sentiment can indirectly influence the price. Broad risk-on or risk-off moods can affect investor appetite for leveraged products, impacting demand.