Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.015%

Price spread now: QFEX against GRVT−0.037%7-day average −0.052% · 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−$23as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on GRVT Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.055%−$6 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.037%, 7d avg −0.052%

Together, before fees−0.039%+ Points / potential airdropGRVT: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.052%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,336.3	0.0128	pay 0.0064% / 4h	2h 28m	$1.4M	$2.9M	25x
Short	QFEX GOLD-USD	4,334.7	0.0044	get 0.0005% / 1h	28m 44s	$5.4M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against GRVT. 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 GRVTbpFee QFEXbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$17.67
Price spread: −0.037% → −0.052%: $1.49
Slippage, 4 orders: −$5.54
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$40.73
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; QFEX: live order book, 10 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 GRVT live order book, 5 min ago	0.01 bp	5.2 bp −$5	5.4 bp −$54	6551.5 bp −$655.1K	doesn't fit
Sell QFEX live order book, 10 min ago	2.42 bp	7.4 bp −$7	7.4 bp −$74	10.7 bp −$1,066	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
SunX XAU-USDT	0.0000%	4h	4,336.2	−0.002%	$92K	$8.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330	−0.145%	$271K	—	250x	as long as short
Bluefin GOLD-PERP	+0.0004%	1h	4,328.3	−0.184%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,325.3	−0.253%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.326%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,328.8	−0.173%	$20.6M	$30.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.5	+0.028%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USDshort	+0.0044%	1h	4,334.7	−0.037%	$5.4M	$2.1M	20x
Vest GC-PERP	+0.0046%	1h	4,366.8	+0.703%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,326.5	−0.226%	$292.1M	$50.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,324.9	−0.262%	$15.0M	$56.6M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,328.9	−0.170%	$3.7M	$12.3M	25x	as long as short
Kalshi KXGOLDPERP	+0.0057%	24h	4,335.1	−0.028%	$4.1M	$40.5M	15x	as long as short
Bybit XAUUSDT	+0.0058%	4h	4,330.4	−0.137%	$78.9M	$154.7M	150x	as long as short
Gate XAU_USDT	+0.0064%	4h	4,330.6	−0.131%	$274.3M	$405.4M	100x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,329.2	−0.165%	$19K	$5K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,332.4	−0.090%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330.3	−0.138%	$2.1M	$4.7M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,331.2	−0.118%	$19.9M	$38.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,326.1	−0.235%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,328.3	−0.185%	$275K	$204K	50x	as long as short
Aster XAUUSD1	+0.0110%	4h	4,331.3	−0.116%	$71.5M	$332.0M	20x	as long as short
Variational Omni XAU	+0.0111%	4h	4,333.1	−0.073%	$48.3M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.6	−0.084%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0120%	4h	4,329.1	−0.166%	$365.9M	$323.1M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,329.4	−0.159%	$413.9M	$2.14B	100x	as long as short
Phoenix GOLD	+0.0127%	1h	4,333.4	−0.067%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perplong	+0.0128%	4h	4,336.3	long leg	$1.4M	$2.9M	25x
edgeX XAUUSDC	+0.0138%	4h	4,329.7	−0.151%	$30.1M	$58.7M	50x	as long as short
Bullet GOLD-USD	+0.0161%	1h	4,333.7	−0.059%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0170%	1h	4,334.4	−0.044%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0235%	1h	4,331.5	−0.111%	$200K	$823K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,330	−0.145%	$590K	$130K	25x	as long as short
HTX XAU-USDT	+0.0259%	4h	4,335.8	−0.011%	$2.8M	$4.8M	75x	as long as short
Bitget XAUUSDT	+0.0282%	4h	4,328.5	−0.180%	$72.8M	$113.3M	100x	as long as short
Phemex XAUUSDT	+0.0333%	4h	4,335.5	−0.018%	$2.2M	$960K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0338%	8h	4,329.3	−0.161%	$169.9M	$291.3M	100x	as long as short
BloFin XAU-USDT	+0.0378%	4h	4,333.7	−0.059%	$16.1M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0449% / S −0.0287%	1h	4,334	−0.054%	$250K	—	111x	as long as short