Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.013%

Price spread now: QFEX against Bybit+0.040%7-day average −0.062% · 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−$15as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.068%−$7 on $10k

Price spread, last 7 days−0.093%−$9 · spread now +0.040%, 7d avg −0.062%

Together, before fees−0.161%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.103% dearer against Bybit than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.062%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,331.8	0.0109	pay 0.0055% / 4h	2h 03m	$80.5M	$171.4M	150x
Short	QFEX GOLD-USD	4,333.5	0.0038	get 0.0005% / 1h	3m 54s	$6.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$14.98
Price spread: +0.040% → −0.062%: $10.28
Slippage, 4 orders: −$4.58
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$30.27
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; QFEX: live order book, 8 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 Bybit live order book, 3 min ago	0.01 bp	5.7 bp −$6	7.6 bp −$76	12.6 bp −$1,259	36.8 bp −$18.4K
Sell QFEX live order book, 8 min ago	2.20 bp	7.2 bp −$7	7.2 bp −$72	9.4 bp −$944	doesn't fit

XAU on 39 exchanges

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	−1.7424%	1h	4,327.9	−0.089%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,337.9	+0.142%	$92K	$6.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329.9	−0.042%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,329.5	−0.052%	$2.1M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.431%	$619	$54	52x	as long as short
QFEX GOLD-USDshort	+0.0038%	1h	4,333.5	+0.040%	$6.7M	$3.2M	20x
StandX XAU-USD	+0.0040%	1h	4,336.9	+0.119%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,367	+0.814%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,326.8	−0.114%	$292.0M	$52.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.5	−0.030%	$15.1M	$58.1M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,334.1	+0.053%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,334.8	+0.071%	$4.7M	$13.5M	25x	as long as short
Phoenix GOLD	+0.0076%	1h	4,322	−0.225%	$43K	$72K	25x	as long as short
Aster XAUUSD1	+0.0078%	4h	4,332.6	+0.020%	$73.0M	$275.2M	20x	as long as short
Variational Omni XAU	+0.0090%	4h	4,334.4	+0.060%	$47.3M	$29.4M	—	as long as short
Lighter XAU	+0.0096%	1h	4,331.9	+0.004%	$20.2M	$30.5M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,332.4	+0.015%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.8	−0.091%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,328.6	−0.072%	$25K	$1K	20x	as long as short
Gate XAU_USDT	+0.0102%	4h	4,332.7	+0.023%	$302.8M	$449.9M	100x	as long as short
Bybit XAUUSDTlong	+0.0109%	4h	4,331.8	long leg	$80.5M	$171.4M	150x
MEXC XAU_USDT	+0.0110%	4h	4,330.8	−0.022%	$362.7M	$365.7M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,331	−0.018%	$445.3M	$2.40B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.9	+0.026%	$160K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0116%	4h	4,333.8	+0.048%	$1.4M	$3.1M	25x	as long as short
edgeX XAUUSDC	+0.0119%	4h	4,324.3	−0.171%	$30.2M	$66.3M	50x	as long as short
Kalshi KXGOLDPERP	+0.0133%	24h	4,336.6	+0.112%	$3.5M	$50.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0136%	1h	4,333.4	+0.038%	$4.3M	$1.7M	20x	as long as short
Extended XAU-USD	+0.0152%	1h	4,327	−0.110%	$12.7M	$34.8M	25x	as long as short
Lighter RH XAU	+0.0160%	1h	4,334.4	+0.061%	$19.7M	$41.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0189%	1h	4,331.7	−0.001%	$135K	$747K	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,333.2	+0.033%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,330.8	−0.022%	$74.3M	$135.7M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,331	−0.017%	$170.9M	$356.2M	100x	as long as short
Phemex XAUUSDT	+0.0271%	4h	4,334.4	+0.061%	$2.2M	$782K	100x	as long as short
BloFin XAU-USDT	+0.0351%	4h	4,333.5	+0.041%	$16.3M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,330.1	−0.038%	$583K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0307%	1h	4,332.7	+0.023%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1128%	4h	4,341.3	+0.219%	$3.2M	$7.0M	75x	as long as short