Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.022%

Price spread now: QFEX against Binance−0.030%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.064%−$6 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.030%, 7d avg −0.048%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, 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	Binance XAUUSDT	4,325.9	0.0100	pay 0.0050% / 4h	33m 52s	$425.2M	$2.13B	100x
Short	QFEX GOLD-USD	4,324.6	0.0045	get 0.0006% / 1h	33m 52s	$5.4M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$11.6
Price spread: −0.030% → −0.048%: $1.83
Slippage, 4 orders: −$3.03
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$32.79
Costs to cover: 0.230%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; QFEX: live order book, 5 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 Binance live order book, 10 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.1 bp −$607	doesn't fit
Sell QFEX live order book, 5 min ago	1.50 bp	6.5 bp −$7	6.5 bp −$65	8.8 bp −$879	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
Bluefin GOLD-PERP	−0.0105%	1h	4,320.7	−0.121%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	−0.0096%	1h	4,322.4	−0.080%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,330.5	+0.107%	$92K	$7.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,322.7	−0.073%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.567%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.2	+0.031%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDshort	+0.0045%	1h	4,324.6	−0.030%	$5.4M	$2.0M	20x
Vest GC-PERP	+0.0046%	1h	4,358.4	+0.752%	—	$1.0M	25x	as long as short
Bybit XAUUSDT	+0.0049%	4h	4,327.1	+0.028%	$77.6M	$153.0M	150x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,323.2	−0.062%	$291.8M	$51.5M	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	4,321.5	−0.102%	$15.0M	$55.6M	25x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,326.9	+0.023%	$72.9M	$272.0M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,325.6	−0.007%	$20.4M	$29.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0066%	8h	4,325.1	−0.017%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322	−0.090%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.9	−0.023%	$47.2M	$29.3M	—	as long as short
Kalshi KXGOLDPERP	+0.0092%	24h	4,327.8	+0.044%	$3.8M	$44.6M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,323.8	−0.048%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,326.2	+0.008%	$364.0M	$327.3M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0098%	4h	4,326.6	+0.017%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDTlong	+0.0100%	4h	4,325.9	long leg	$425.2M	$2.13B	100x
Pacifica XAU	+0.0100%	1h	4,322.4	−0.080%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.5	−0.033%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.8	−0.003%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,328.1	+0.050%	$285.2M	$416.0M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,323.1	−0.065%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,327.8	+0.044%	$20.0M	$39.1M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,322.1	−0.088%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,326.2	+0.007%	$70.2M	$118.6M	100x	as long as short
Bullet GOLD-USD	+0.0205%	1h	4,326.5	+0.013%	$58K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,325.2	−0.016%	$163K	$871K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,326.2	+0.007%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,324.1	−0.041%	$578K	$135K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0276%	8h	4,326.8	+0.021%	$173.8M	$299.3M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,325.8	−0.002%	$16.4M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0361%	4h	4,328.9	+0.071%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0415%	4h	4,331.9	+0.138%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,326.1	+0.006%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,326.1	+0.006%	$4.6M	$13.3M	25x	as long as short