Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h −0.020%

Price spread now: QFEX against Variational Omni+0.045%7-day average −0.039% · you sell dearer than you buy

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.040%−$4 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.045%, 7d avg −0.039%

Together, before fees−0.109%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.083% dearer against Variational Omni than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.039%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,313.6	0.0093	pay 0.0047% / 4h	21m 58s	$47.0M	$29.2M	—
Short	QFEX GOLD-USD	4,315.5	0.0045	get 0.0006% / 1h	21m 58s	$5.4M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Variational Omni. 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 Variational OmnibpFee QFEXbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$10.21
Price spread: +0.045% → −0.039%: $8.31
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$11.9
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; QFEX: live order book, 7 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 Variational Omni RFQ quote, 2 min ago	1.55 bp	doesn't fit	1.6 bp −$16	3.3 bp −$332	doesn't fit
Sell QFEX live order book, 7 min ago	1.39 bp	6.4 bp −$6	6.4 bp −$64	9.0 bp −$897	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	4,320.2	+0.154%	$92K	$7.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,312.3	−0.031%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.854%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,319.8	+0.144%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDshort	+0.0045%	1h	4,315.5	+0.045%	$5.4M	$2.0M	20x
Vest GC-PERP	+0.0046%	1h	4,348.6	+0.812%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,313.4	−0.004%	$290.9M	$51.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,313.7	+0.003%	$15.0M	$55.5M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,317.9	+0.101%	$72.9M	$272.1M	20x	as long as short
Bybit XAUUSDT	+0.0062%	4h	4,318	+0.103%	$77.6M	$154.8M	150x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0064%	1h	4,315.2	+0.037%	$20.3M	$30.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0064%	8h	4,317.1	+0.081%	$2K	$14K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,314.2	+0.014%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,313.3	−0.006%	$2.1M	$4.9M	25x	as long as short
Bluefin GOLD-PERP	+0.0085%	1h	4,309.6	−0.092%	$25K	$1K	20x	as long as short
Variational Omni XAUlong	+0.0093%	4h	4,313.6	long leg	$47.0M	$29.2M	—
Kalshi KXGOLDPERP	+0.0095%	24h	4,318	+0.103%	$3.6M	$44.9M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,311.3	−0.053%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,314	+0.010%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,312.6	−0.024%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,317.4	+0.088%	$20.0M	$39.6M	25x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,317.3	+0.086%	$362.7M	$334.0M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,315.8	+0.051%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0104%	4h	4,311.1	−0.058%	$30.0M	$60.0M	50x	as long as short
Binance XAUUSDT	+0.0106%	4h	4,316.8	+0.074%	$426.0M	$2.16B	100x	as long as short
Gate XAU_USDT	+0.0108%	4h	4,318.5	+0.114%	$283.3M	$422.5M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0108%	4h	4,315.9	+0.054%	$1.4M	$3.0M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,313.1	−0.010%	$13.2M	$36.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0167%	1h	4,314.8	+0.028%	$162K	$876K	25x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,316.9	+0.078%	$70.2M	$121.0M	100x	as long as short
Bullet GOLD-USD	+0.0204%	1h	4,316.2	+0.061%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,316.4	+0.065%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,313.9	+0.007%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0272%	8h	4,317.6	+0.093%	$174.6M	$303.7M	100x	as long as short
BloFin XAU-USDT	+0.0346%	4h	4,317.9	+0.100%	$16.5M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0416%	4h	4,316.9	+0.076%	$2.2M	$976K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0311%	1h	4,316.2	+0.061%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0489%	4h	4,323.7	+0.235%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,317.7	+0.095%	$4.5M	$13.3M	25x	as long as short