Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h −0.005%

Price spread now: QFEX against Gate−0.017%55s7-day average −0.071% · 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—prices read too far apart to compare

costs, in and out, $10k−$300.301% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days−0.057%−$6 · spread now −0.017%, 7d avg −0.071%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.053% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.071%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAU_USDT	4,350.6	0	get 0.0000% / 4h	1h 12m	$264.3M	$415.5M	100x
Short	QFEX GOLD-USD	4,349.8	0.0046	get 0.0006% / 1h	12m 37s	$5.7M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now −0.017%Rate

Funding earned: $9.66
Price spread: −0.017% → −0.071%: $5.33
Slippage, 4 orders: −$5.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$15.08
Costs to cover: 0.301%
Break-even: 17.9 days

Slippage from Gate: live order book, 1 min ago; QFEX: live order book, 6 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 Gate live order book, 1 min ago	0.01 bp	7.5 bp −$8	8.3 bp −$83	12.5 bp −$1,251	14.2 bp −$7,092
Sell QFEX live order book, 6 min ago	2.53 bp	7.5 bp −$8	7.5 bp −$75	9.5 bp −$949	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
Gate XAU_USDTlong	0.0000%	4h	4,350.6	long leg	$264.3M	$415.5M	100x
SunX XAU-USDT	0.0000%	4h	4,354.8	+0.098%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.7	−0.090%	$267K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,349	−0.036%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.5	−0.116%	$13.5M	$38.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.003%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0040%	24h	4,348.7	−0.043%	$4.1M	$37.1M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.6	+0.001%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0041%	4h	4,349.6	−0.022%	$70.6M	$334.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,384	+0.769%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USDshort	+0.0046%	1h	4,349.8	−0.017%	$5.7M	$2.0M	20x
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,347.7	−0.066%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347	−0.082%	$293.8M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.2	−0.123%	$15.1M	$56.8M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,352.8	+0.051%	$1.4M	$3.0M	25x	as long as short
Variational Omni XAU	+0.0055%	4h	4,351.4	+0.020%	$48.5M	$27.9M	—	as long as short
Lighter XAU	+0.0056%	1h	4,347.9	−0.062%	$20.6M	$42.6M	25x	as long as short
Lighter RH XAU	+0.0064%	1h	4,350.4	−0.003%	$20.1M	$39.9M	25x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,349.3	−0.030%	$372.6M	$319.7M	1000x	as long as short
Binance XAUUSDT	+0.0073%	4h	4,349.1	−0.035%	$410.4M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,349.1	−0.033%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0079%	4h	4,349.3	−0.029%	$30.3M	$58.6M	50x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,347.7	−0.066%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,349.8	−0.017%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.4	−0.096%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.1	+0.011%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0117%	1h	4,350	−0.013%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.4	−0.004%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,348.8	−0.040%	$254K	$752K	25x	as long as short
Bullet GOLD-USD	+0.0193%	1h	4,350.6	+0.002%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0194%	4h	4,354	+0.079%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0201%	4h	4,350.6	0.000%	$84.4M	$145.3M	150x	as long as short
Bitget XAUUSDT	+0.0214%	4h	4,349.3	−0.030%	$70.3M	$109.5M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0256%	8h	4,350.4	−0.004%	$165.3M	$283.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,347.8	−0.064%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0294%	4h	4,350.7	+0.004%	$15.6M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0403% / S −0.0217%	1h	4,350.6	+0.001%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0577%	4h	4,356.1	+0.128%	$2.9M	$4.2M	75x	as long as short
Bluefin GOLD-PERP	+0.0630%	1h	4,344.2	−0.147%	$25K	$14K	20x	as long as short