XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0089%/8h= −9.8% APRnext payment −$0.11 per $10,000 · paid last 24h −0.055%

Price spread now: QFEX against Deribit+0.060%7-day average +0.100% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Deribit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.751%−$75 on $10k

Price spread, last 3 days (all we have)+0.055%+$5 · spread now +0.060%, 7d avg +0.100%

Together, before fees−0.696%−$70 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.041% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.100%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,355.2	0.0140	pay 0.0018% / 1h	40m 35s	$234K	$661K	25x
Short	QFEX GOLD-USD	4,357.8	0.0051	get 0.0006% / 1h	40m 35s	$5.6M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Deribit. 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 DeribitbpFee QFEXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$18.72
Price spread: +0.060% → +0.100%: −$4.07
Slippage, 4 orders: −$10.05
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$49.85
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Deribit: live order book, 28 min ago; QFEX: live order book, 3 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 Deribit live order book, 28 min ago	0.12 bp	7.9 bp −$8	9.1 bp −$91	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	2.75 bp	7.8 bp −$8	7.8 bp −$78	9.8 bp −$976	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
Bluefin GOLD-PERP	−0.0318%	1h	4,348.4	−0.157%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0024%	1h	4,354.2	−0.023%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,357.8	+0.060%	$69.7M	$282.6M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.5	+0.098%	$263.3M	$406.9M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,353.1	−0.048%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,361.1	+0.136%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.5	−0.063%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.8	−0.032%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.110%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.021%	$3.8M	$4.7M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,389.1	+0.778%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,356.9	+0.039%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,358.8	+0.082%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.2	−0.023%	$293.8M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355.3	+0.002%	$15.0M	$57.6M	25x	as long as short
QFEX GOLD-USDshort	+0.0051%	1h	4,357.8	+0.060%	$5.6M	$1.9M	20x
Polymarket Perps GOLD-USD	+0.0060%	1h	4,354.8	−0.009%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	+0.012%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.6	−0.106%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,358.1	+0.066%	$372.5M	$321.4M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,357.3	+0.048%	$410.4M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,357.4	+0.050%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.075%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.7	−0.034%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.043%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,355.8	+0.015%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.011%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357.9	+0.062%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,358.7	+0.080%	$1.4M	$3.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0140%	1h	4,355.2	long leg	$234K	$661K	25x
Bitget XAUUSDT	+0.0146%	4h	4,358.6	+0.077%	$69.4M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,355.5	+0.008%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,358.4	+0.074%	$84.2M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0224%	8h	4,358.7	+0.080%	$165.0M	$284.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,353.1	−0.047%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.220%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.5	+0.008%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0411%	4h	4,360.9	+0.130%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,361	+0.133%	$2.9M	$3.9M	75x	as long as short