Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0124%/8h= +13.5% APRpaid last 24h +0.021%

Price spread now: Bybit against QFEX+0.081%7-day average +0.062% · 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−$25as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.058%+$6 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.081%, 7d avg +0.062%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,358.8	0.0051	pay 0.0006% / 1h	46m 58s	$5.6M	$1.9M	20x
Short	Bybit XAUUSDT	4,362.3	0.0175	get 0.0088% / 4h	2h 46m	$84.3M	$145.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.081%Rate

Funding earned: $25.97
Price spread: +0.081% → +0.062%: $1.86
Slippage, 4 orders: −$6.21
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $0.62
Costs to cover: 0.272%
Break-even: 6.8 days

Slippage from QFEX: live order book, 12 min ago; Bybit: live order book, 2 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, 12 min ago	3.09 bp	8.1 bp −$8	8.1 bp −$81	10.7 bp −$1,066	doesn't fit
Sell Bybit live order book, 2 min ago	0.01 bp	5.5 bp −$6	6.8 bp −$68	10.7 bp −$1,066	31.4 bp −$15.7K

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	−0.0370%	1h	4,353.7	−0.117%	$26K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0072%	1h	4,356.2	−0.060%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,361.6	+0.064%	$69.3M	$271.5M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.1	+0.098%	$263.7M	$404.7M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,357.8	−0.023%	$4.1M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.6	+0.157%	$93K	$9.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.1	−0.039%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,356.8	−0.045%	$13.5M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.192%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,361.1	+0.052%	$20.7M	$43.4M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAU	+0.0040%	1h	4,363.3	+0.103%	$20.2M	$40.7M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,364.8	+0.138%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,394.2	+0.812%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,358	−0.018%	$294.1M	$48.4M	25x	as long as short
Variational Omni XAU	+0.0050%	4h	4,366.4	+0.173%	$48.5M	$28.4M	—	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,356	−0.065%	$14.9M	$57.6M	25x	as long as short
QFEX GOLD-USDlong	+0.0051%	1h	4,358.8	long leg	$5.6M	$1.9M	20x
Polymarket Perps GOLD-USD	+0.0053%	1h	4,358.9	+0.002%	$4.3M	$1.9M	20x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,362	+0.073%	$373.5M	$320.3M	1000x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,357.7	−0.025%	$2.0M	$5.0M	25x	as long as short
Binance XAUUSDT	+0.0074%	4h	4,361	+0.051%	$410.3M	$2.11B	100x	as long as short
edgeX XAUUSDC	+0.0081%	4h	4,358.8	0.000%	$30.4M	$60.6M	50x	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,359.2	+0.008%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,359.8	+0.024%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,356.1	−0.062%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.3	+0.058%	$275K	$204K	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,359.4	+0.014%	$235K	$661K	25x	as long as short
Phoenix GOLD	+0.0121%	1h	4,363.7	+0.112%	$48K	$64K	25x	as long as short
Bitget XAUUSDT	+0.0130%	4h	4,362.2	+0.079%	$69.6M	$111.0M	100x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,359.2	+0.009%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,364	+0.118%	$1.4M	$3.0M	25x	as long as short
Bullet GOLD-USD	+0.0152%	1h	4,360.5	+0.039%	$60K	$83K	10x	as long as short
Bybit XAUUSDTshort	+0.0175%	4h	4,362.3	+0.081%	$84.3M	$145.2M	150x
OKX XAU-USDT-SWAP	+0.0220%	8h	4,362.6	+0.087%	$164.8M	$286.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,357.4	−0.033%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.138%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361	+0.050%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0399%	4h	4,365.4	+0.152%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0529%	4h	4,364.7	+0.134%	$2.9M	$3.9M	75x	as long as short