Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.018%

Price spread now: GRVT against QFEX+0.052%57s7-day average +0.053% · 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—prices read too far apart to compare

costs, in and out, $10k−$240.244% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.052%, 7d avg +0.053%

Together, before fees+0.052%+ Points / potential airdropGRVT: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 57 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	QFEX GOLD-USD	4,348.4	0.0041	pay 0.0005% / 1h	17m 54s	$5.7M	$2.0M	20x
Short	GRVT XAU_USDT_Perp	4,350.6	0.0088	get 0.0044% / 4h	17m 54s	$1.4M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.052%Rate

Funding earned: $9.81
Price spread: +0.052% → +0.053%: −$0.14
Slippage, 4 orders: −$5.44
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$14.77
Costs to cover: 0.244%
Break-even: 17.5 days

Slippage from QFEX: live order book, 6 min ago; GRVT: live order book, 1 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, 6 min ago	2.64 bp	7.6 bp −$8	7.6 bp −$76	9.6 bp −$959	doesn't fit
Sell GRVT live order book, 1 min ago	0.01 bp	4.6 bp −$5	4.7 bp −$47	7.4 bp −$744	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
RISEx XAU/USDC	0.0000%	1h	4,349.3	+0.020%	$3.4M	$12.2M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,350.5	+0.047%	$265.1M	$415.9M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,353.4	+0.116%	$93K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.1	−0.076%	$272K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,347.9	−0.011%	$33K	—	25x	as long as short
Lighter XAU	+0.0032%	1h	4,347.9	−0.011%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345	−0.078%	$13.2M	$38.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.046%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,350.1	+0.040%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.7	+0.053%	$3.8M	$4.5M	40x	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	+0.0041%	1h	4,348.4	long leg	$5.7M	$2.0M	20x
Vest GC-PERP	+0.0046%	1h	4,382.9	+0.793%	—	$1.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0047%	24h	4,348.1	−0.007%	$4.2M	$37.3M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,346.5	−0.044%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,346.9	−0.034%	$293.9M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.3	−0.072%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0062%	4h	4,350.2	+0.042%	$71.2M	$333.1M	20x	as long as short
Variational Omni XAU	+0.0077%	4h	4,349.2	+0.019%	$48.5M	$28.0M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,349.1	+0.015%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perpshort	+0.0088%	4h	4,350.6	+0.052%	$1.4M	$2.9M	25x
MEXC XAU_USDT	+0.0090%	4h	4,349.3	+0.021%	$372.1M	$318.7M	1000x	as long as short
Binance XAUUSDT	+0.0090%	4h	4,348.9	+0.012%	$413.4M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.6	−0.041%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.5	−0.045%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,344.3	−0.094%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,346.3	−0.048%	$30.2M	$58.1M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,348.8	+0.009%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.9	−0.011%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0157%	1h	4,349	+0.014%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,349.3	+0.020%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,346.3	−0.049%	$593K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0215%	4h	4,352.2	+0.087%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,350	+0.037%	$70.0M	$109.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,347.7	−0.016%	$206K	$823K	25x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,350.7	+0.053%	$85.3M	$145.1M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0294%	8h	4,350.3	+0.044%	$165.5M	$282.6M	100x	as long as short
BloFin XAU-USDT	+0.0331%	4h	4,351.1	+0.061%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0417% / S −0.0236%	1h	4,349.3	+0.020%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0623%	4h	4,354.6	+0.142%	$2.9M	$4.3M	75x	as long as short