Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.028%

Price spread now: Aster against QFEX+0.054%7-day average +0.045% · 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−$33as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.053%+$5 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.054%, 7d avg +0.045%

Together, before fees+0.022%+ Points / potential airdropAster: Stage 5 · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.053%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,342.5	0.0052	pay 0.0006% / 1h	9m 26s	$5.5M	$1.9M	20x
Short	Aster XAUUSD1	4,344.9	0	get 0.0000% / 4h	2h 09m	$71.1M	$241.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$10.89
Price spread: +0.054% → +0.045%: $0.93
Slippage, 4 orders: −$16.3
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$44.25
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Aster: live order book, 5 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 QFEX live order book, 4 min ago	2.88 bp	18.4 bp −$18	19.3 bp −$193	19.4 bp −$1,938	23.7 bp −$11.8K
Sell Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	20.7 bp −$2,074	doesn't fit

XAU on 38 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	−0.0421%	1h	4,334.7	−0.179%	$26K	$21K	20x	as long as short
Aster XAUUSD1short	0.0000%	4h	4,344.9	+0.054%	$71.1M	$241.0M	20x
Bybit XAUUSDT	0.0000%	4h	4,342.3	−0.006%	$82.6M	$144.9M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,343.4	+0.021%	$273.2M	$413.5M	100x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,342.5	0.000%	$67.1M	$114.0M	100x	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,342.3	−0.005%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,341.4	−0.025%	$3.9M	$34.1M	15x	as long as short
Bullet GOLD-USD	0.0000%	1h	4,342.2	−0.007%	$58K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,346.3	+0.087%	$92K	$10.9M	20x	as long as short
Binance XAUUSDT	+0.0006%	4h	4,342.1	−0.009%	$415.5M	$2.12B	100x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XAU_USDT	+0.0010%	4h	4,341.9	−0.015%	$373.2M	$350.3M	1000x	as long as short
Variational Omni XAU	+0.0016%	4h	4,342	−0.011%	$47.8M	$34.0M	—	as long as short
HTX XAU-USDT	+0.0027%	4h	4,346.2	+0.085%	$2.8M	$3.8M	75x	as long as short
Lighter XAU	+0.0032%	1h	4,340.9	−0.037%	$20.7M	$46.8M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,343.8	+0.029%	$20.2M	$45.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.8	+0.031%	$13.2M	$50.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.182%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.6	+0.025%	$3.8M	$4.7M	40x	as long as short
edgeX XAUUSDC	+0.0045%	4h	4,338.3	−0.096%	$30.2M	$58.0M	50x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.1	+0.912%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.5	−0.069%	$293.1M	$52.6M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,341.6	−0.021%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.1	−0.033%	$14.5M	$54.5M	25x	as long as short
Paradex XAU-USD-PERP	+0.0051%	8h	4,342.5	0.000%	$19K	$6K	5x	as long as short
QFEX GOLD-USDlong	+0.0052%	1h	4,342.5	long leg	$5.5M	$1.9M	20x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,338.1	−0.101%	$2.0M	$5.2M	25x	as long as short
BloFin XAU-USDT	+0.0086%	4h	4,342.2	−0.008%	$14.8M	$4.3M	100x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,341.8	−0.015%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.5	−0.023%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.4	−0.049%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.5	+0.023%	$47K	$69K	25x	as long as short
Hotstuff GOLD-PERP	+0.0168%	1h	4,339.5	−0.069%	$33K	—	25x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,342.1	−0.009%	$3.4M	$12.6M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0198%	8h	4,342.8	+0.007%	$157.9M	$275.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,338.9	−0.082%	$598K	$140K	25x	as long as short
Phemex XAUUSDT	+0.0417%	4h	4,345.8	+0.075%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0495% / S −0.0311%	1h	4,342.1	−0.008%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0903%	1h	4,340.9	−0.037%	$221K	$884K	25x	as long as short