Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.020%

Price spread now: Variational Omni against QFEX+0.043%7-day average +0.038% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.043%, 7d avg +0.038%

Together, before fees+0.019%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.038%, so right now this pair is about funding alone: +$2 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	4,333.4	0.0044	pay 0.0005% / 1h	31m 20s	$5.4M	$2.1M	20x
Short	Variational Omni XAU	4,335.3	0.0109	get 0.0054% / 4h	2h 31m	$48.3M	$27.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.043%Rate

Funding earned: $13.67
Price spread: +0.043% → +0.038%: $0.48
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $4.15
Costs to cover: 0.100%
Break-even: 4.9 days

Slippage unknown: QFEX: live order book, 7 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 7 min ago	2.42 bp	7.4 bp −$7	7.4 bp −$74	9.3 bp −$930	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.55 bp	doesn't fit	2.0 bp −$20	4.6 bp −$464	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	4,337.8	+0.102%	$92K	$8.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.3	−0.071%	$271K	—	250x	as long as short
Bluefin GOLD-PERP	+0.0015%	1h	4,327.8	−0.129%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,330.5	−0.068%	$13.2M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.393%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,331.6	−0.042%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDlong	+0.0044%	1h	4,333.4	long leg	$5.4M	$2.1M	20x
Vest GC-PERP	+0.0046%	1h	4,366.9	+0.773%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,333.8	+0.009%	$20.7M	$30.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,330.7	−0.062%	$292.4M	$50.4M	25x	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	4,331	−0.055%	$15.0M	$56.6M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,334.6	+0.027%	$3.7M	$12.3M	25x	as long as short
Kalshi KXGOLDPERP	+0.0057%	24h	4,333.4	0.000%	$4.1M	$40.3M	15x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,335.6	+0.050%	$273.4M	$403.3M	100x	as long as short
Bybit XAUUSDT	+0.0067%	4h	4,334.6	+0.028%	$79.1M	$154.4M	150x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,332.1	−0.030%	$2.1M	$4.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,334.5	+0.026%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0096%	1h	4,336.2	+0.064%	$20.0M	$38.6M	25x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,325.6	−0.180%	$32K	—	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,331.1	−0.053%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,328.3	−0.119%	$275K	$204K	50x	as long as short
Variational Omni XAUshort	+0.0109%	4h	4,335.3	+0.043%	$48.3M	$27.5M	—
Aster XAUUSD1	+0.0112%	4h	4,335.7	+0.052%	$71.5M	$331.6M	20x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,335.7	+0.053%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0120%	4h	4,334	+0.015%	$365.4M	$322.0M	1000x	as long as short
Binance XAUUSDT	+0.0121%	4h	4,333.8	+0.010%	$417.4M	$2.13B	100x	as long as short
Phoenix GOLD	+0.0127%	1h	4,333.4	0.000%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,332.3	−0.024%	$1.4M	$2.9M	25x	as long as short
edgeX XAUUSDC	+0.0138%	4h	4,329.7	−0.084%	$30.1M	$58.7M	50x	as long as short
Bullet GOLD-USD	+0.0162%	1h	4,334.1	+0.017%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0171%	1h	4,334	+0.014%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0212%	1h	4,332.7	−0.016%	$202K	$820K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,331.2	−0.052%	$590K	$130K	25x	as long as short
HTX XAU-USDT	+0.0261%	4h	4,337.5	+0.093%	$2.8M	$4.8M	75x	as long as short
Bitget XAUUSDT	+0.0284%	4h	4,334.3	+0.020%	$72.3M	$111.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0338%	8h	4,334.6	+0.028%	$169.6M	$290.7M	100x	as long as short
Phemex XAUUSDT	+0.0362%	4h	4,336.9	+0.080%	$2.2M	$960K	100x	as long as short
BloFin XAU-USDT	+0.0403%	4h	4,330.2	−0.074%	$15.9M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0451% / S −0.0286%	1h	4,333.8	+0.010%	$250K	—	111x	as long as short