Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h −0.029%

Price spread now: QFEX against Binance−0.007%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.064%−$6 on $10k

Price spread, last 2 days (all we have)+0.003%$0 · spread now −0.007%, 7d avg −0.012%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.064%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,362.4	0.0014	pay 0.0007% / 4h	3h 29m	$411.9M	$2.15B	100x
Short	QFEX GOLD-USD	4,362.1	0.0045	get 0.0006% / 1h	29m 37s	$5.6M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.007%Rate

Funding earned: $6.53
Price spread: −0.007% → −0.012%: $0.56
Slippage, 4 orders: −$4.61
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$17.52
Costs to cover: 0.246%
Break-even: 25.8 days

Slippage from Binance: live order book, 14 min ago; QFEX: live order book, 4 min ago.

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 Binance live order book, 14 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	7.2 bp −$721	doesn't fit
Sell QFEX live order book, 4 min ago	2.29 bp	7.3 bp −$7	7.3 bp −$73	9.8 bp −$985	doesn't fit

XAU on 39 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
Hotstuff GOLD-PERP	−0.0016%	1h	4,359.7	−0.062%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,362.7	+0.007%	$71.1M	$200.3M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.4	+0.023%	$265.5M	$415.0M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,362.5	+0.002%	$48.0M	$28.0M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,359.7	−0.062%	$4.0M	$36.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,366.8	+0.101%	$93K	$10.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,358	−0.101%	$267K	—	250x	as long as short
MEXC XAU_USDT	+0.0012%	4h	4,362.4	0.000%	$373.1M	$326.0M	1000x	as long as short
Binance XAUUSDTlong	+0.0014%	4h	4,362.4	long leg	$411.9M	$2.15B	100x
edgeX XAUUSDC	+0.0017%	4h	4,356.7	−0.131%	$30.3M	$60.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.275%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,364.2	+0.041%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USDshort	+0.0045%	1h	4,362.1	−0.007%	$5.6M	$1.9M	20x
Vest GC-PERP	+0.0046%	1h	4,396.4	+0.779%	—	$1.0M	25x	as long as short
Bitget XAUUSDT	+0.0046%	4h	4,362.7	+0.007%	$69.6M	$113.3M	100x	as long as short
BloFin XAU-USDT	+0.0046%	4h	4,363.5	+0.024%	$15.5M	$4.5M	100x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,362.3	−0.002%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,359.7	−0.062%	$293.9M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,357.8	−0.105%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,361.9	−0.011%	$48K	$64K	25x	as long as short
Lighter XAU	+0.0072%	1h	4,361.1	−0.030%	$20.6M	$43.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,362.2	−0.005%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,361.7	−0.016%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0096%	1h	4,363.3	+0.021%	$20.2M	$41.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,360.1	−0.053%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,358.9	−0.080%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,360.8	−0.037%	$275K	$204K	50x	as long as short
Bybit XAUUSDT	+0.0111%	4h	4,362.9	+0.011%	$83.0M	$143.7M	150x	as long as short
Extended XAU-USD	+0.0120%	1h	4,358.2	−0.096%	$13.5M	$44.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0128%	1h	4,361.7	−0.016%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.7	+0.008%	$1.4M	$3.1M	25x	as long as short
Bluefin GOLD-PERP	+0.0185%	1h	4,355.5	−0.158%	$26K	$22K	20x	as long as short
OKX XAU-USDT-SWAP	+0.0195%	8h	4,363.8	+0.032%	$165.6M	$286.2M	100x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,362.8	+0.009%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,359.6	−0.065%	$595K	$150K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0278%	1h	4,360.8	−0.037%	$235K	$656K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,362.6	+0.004%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0521%	4h	4,366.1	+0.084%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0618%	4h	4,366.4	+0.092%	$2.9M	$3.9M	75x	as long as short