Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0249%/8h= +27.3% APRpaid last 24h +0.101%

Price spread now: BloFin against QFEX+0.057%7-day average +0.022% · 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−$27as in the Price arb table

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

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.314%+$31 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now +0.057%, 7d avg +0.022%

Together, before fees+0.427%+$43 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.035% dearer against QFEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,351.6	0.0046	pay 0.0006% / 1h	30m 40s	$5.6M	$1.9M	20x
Short	BloFin XAU-USDT	4,354.1	0.0295	get 0.0148% / 4h	1h 30m	$15.5M	$4.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.057%Rate

Funding earned: $52.35
Price spread: +0.057% → +0.022%: $3.49
Slippage, 4 orders: −$8.06
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $25.78
Costs to cover: 0.301%
Break-even: 3.6 days

Slippage from QFEX: live order book, 3 min ago; BloFin: 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 QFEX live order book, 3 min ago	4.02 bp	9.0 bp −$9	9.0 bp −$90	11.0 bp −$1,096	doesn't fit
Sell BloFin live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	7.7 bp −$769	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	4,358.3	+0.154%	$93K	$9.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,349.7	−0.043%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,356.6	+0.115%	$265.7M	$411.1M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,354.8	+0.073%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.5	−0.002%	$13.6M	$39.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.027%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0038%	24h	4,351.6	0.000%	$4.1M	$36.9M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,353.5	+0.044%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0042%	4h	4,355.8	+0.096%	$70.5M	$333.5M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.9	+0.811%	—	$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-USDlong	+0.0046%	1h	4,351.6	long leg	$5.6M	$1.9M	20x
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,350.6	−0.023%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,351.8	+0.005%	$294.0M	$48.7M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0050%	4h	4,352.3	+0.016%	$1.4M	$3.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.6	0.000%	$15.1M	$57.5M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,354.4	+0.063%	$20.6M	$42.2M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,353	+0.031%	$48.3M	$27.8M	—	as long as short
Lighter RH XAU	+0.0072%	1h	4,356.4	+0.111%	$20.1M	$39.7M	25x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,355.3	+0.084%	$372.7M	$318.1M	1000x	as long as short
Binance XAUUSDT	+0.0074%	4h	4,355.3	+0.084%	$412.9M	$2.09B	100x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,355.3	+0.086%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0092%	4h	4,347.3	−0.099%	$30.3M	$58.9M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,353	+0.031%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,351.8	+0.005%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,348.5	−0.072%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,346.2	−0.124%	$25K	$14K	20x	as long as short
Polymarket Perps GOLD-USD	+0.0131%	1h	4,353.1	+0.034%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.1	−0.034%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,350.2	−0.032%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0147%	4h	4,354.3	+0.062%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0196%	4h	4,356.7	+0.117%	$84.5M	$145.2M	150x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,355.8	+0.096%	$70.2M	$109.5M	100x	as long as short
Bullet GOLD-USD	+0.0217%	1h	4,353.9	+0.053%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,352.9	+0.030%	$258K	$706K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,356.8	+0.119%	$165.0M	$281.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.3	−0.008%	$594K	$133K	25x	as long as short
BloFin XAU-USDTshort	+0.0295%	4h	4,354.1	+0.057%	$15.5M	$4.6M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0403% / S −0.0214%	1h	4,353.8	+0.052%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0562%	4h	4,359.2	+0.176%	$2.9M	$4.2M	75x	as long as short