Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0203%/8h= +22.2% APRpaid last 24h +0.051%

Price spread now: OKX against QFEX+0.060%7-day average +0.052% · 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−$24as in the Price arb table

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

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.104%+$10 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.060%, 7d avg +0.052%

Together, before fees+0.083%+$8 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: +$6 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	4,307	0.0046	pay 0.0006% / 1h	37m 43s	$6.6M	$3.1M	20x
Short	OKX XAU-USDT-SWAP	4,309.6	0.0249	get 0.0249% / 8h	7h 37m	$171.0M	$329.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.060%Rate

Funding earned: $42.65
Price spread: +0.060% → +0.052%: $0.87
Slippage, 4 orders: −$4.52
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $19.01
Costs to cover: 0.245%
Break-even: 3.9 days

Slippage from QFEX: live order book, 6 min ago; OKX: 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	1.97 bp	7.0 bp −$7	7.0 bp −$70	9.8 bp −$977	15.7 bp −$7,840
Sell OKX live order book, 1 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.0 bp −$598	12.2 bp −$6,099

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
Hotstuff GOLD-PERP	−0.0032%	1h	4,305.5	−0.035%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,312.4	+0.125%	$92K	$6.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,304.6	−0.055%	$278K	—	250x	as long as short
GRVT XAU_USDT_Perp	+0.0018%	4h	4,306	−0.023%	$1.4M	$3.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.008%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,339.9	+0.764%	—	$1.0M	25x	as long as short
QFEX GOLD-USDlong	+0.0046%	1h	4,307	long leg	$6.6M	$3.1M	20x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,305.6	−0.033%	$291.0M	$53.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,304.7	−0.053%	$4.3M	$1.8M	20x	as long as short
StandX XAU-USD	+0.0050%	1h	4,309.7	+0.063%	$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
Ondo Perps XAU-USD.P	+0.0050%	1h	4,304.7	−0.053%	$15.0M	$55.8M	25x	as long as short
Aster XAUUSD1	+0.0052%	4h	4,309.7	+0.063%	$73.4M	$271.8M	20x	as long as short
Extended XAU-USD	+0.0056%	1h	4,304.5	−0.058%	$13.1M	$36.3M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,303.6	−0.079%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,308	+0.022%	$2K	$13K	5x	as long as short
Lighter XAU	+0.0080%	1h	4,307.8	+0.019%	$20.3M	$28.8M	25x	as long as short
Variational Omni XAU	+0.0087%	4h	4,306.3	−0.017%	$46.6M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,303.2	−0.088%	$42K	$86K	25x	as long as short
Bybit XAUUSDT	+0.0095%	4h	4,309.7	+0.064%	$77.5M	$157.2M	150x	as long as short
Lighter RH XAU	+0.0096%	1h	4,310.4	+0.080%	$19.8M	$39.9M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,304.8	−0.050%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,308.6	+0.036%	$361.0M	$337.0M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,304.3	−0.062%	$275K	$218K	50x	as long as short
Binance XAUUSDT	+0.0102%	4h	4,308.7	+0.039%	$434.3M	$2.22B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,307.1	+0.002%	$160K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0109%	24h	4,310	+0.070%	$3.7M	$46.4M	15x	as long as short
edgeX XAUUSDC	+0.0111%	4h	4,306.8	−0.006%	$30.0M	$61.5M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,308.1	+0.026%	$4.4M	$13.1M	25x	as long as short
Gate XAU_USDT	+0.0150%	4h	4,311	+0.092%	$296.3M	$426.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0168%	1h	4,307.1	+0.002%	$134K	$884K	25x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,308.8	+0.041%	$70.3M	$124.5M	100x	as long as short
Bullet GOLD-USD	+0.0200%	1h	4,308.4	+0.034%	$58K	$81K	10x	as long as short
OKX XAU-USDT-SWAPshort	+0.0249%	8h	4,309.6	+0.060%	$171.0M	$329.3M	100x
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,306	−0.024%	$573K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0364%	4h	4,308.3	+0.030%	$16.2M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0314%	1h	4,308.7	+0.040%	$255K	—	111x	as long as short
Phemex XAUUSDT	+0.0580%	4h	4,311.1	+0.094%	$2.2M	$955K	100x	as long as short
HTX XAU-USDT	+0.1078%	4h	4,315.7	+0.201%	$3.2M	$6.2M	75x	as long as short
Bluefin GOLD-PERP	+0.5012%	1h	4,302.8	−0.097%	$25K	$1K	20x	as long as short