Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.008%

Price spread now: QFEX against Paradex−0.034%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.034% cheaper against Paradex than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XAU-USD-PERP	4,334.2	0.0072	pay 0.0072% / 8h	2h 09m	$19K	$5K	5x
Short	QFEX GOLD-USD	4,332.7	0.0044	get 0.0005% / 1h	9m 27s	$5.5M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Paradex. 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 ParadexbpFee QFEXbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$5.92
Price spread: −0.034% → 0.000%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$23.34
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; QFEX: live order book, 4 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 Paradex no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	2.66 bp	8.6 bp −$9	8.6 bp −$86	10.0 bp −$1,004	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0052%	1h	4,327.8	−0.148%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,338.3	+0.095%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.6	−0.082%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,334.7	+0.011%	$78.4M	$156.7M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,330.5	−0.085%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.375%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333.7	−0.011%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDshort	+0.0044%	1h	4,332.7	−0.034%	$5.5M	$2.1M	20x
Vest GC-PERP	+0.0046%	1h	4,367	+0.757%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,332.8	−0.032%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,330.9	−0.076%	$292.0M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.4	−0.087%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,335.5	+0.029%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,334.7	+0.012%	$4.0M	$42.2M	15x	as long as short
Gate XAU_USDT	+0.0064%	4h	4,335.9	+0.040%	$272.1M	$417.1M	100x	as long as short
Lighter RH XAU	+0.0072%	1h	4,335.3	+0.025%	$19.9M	$39.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330.9	−0.076%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERPlong	+0.0072%	8h	4,334.2	long leg	$19K	$5K	5x
Aster XAUUSD1	+0.0097%	4h	4,334.9	+0.017%	$72.3M	$330.2M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,330.5	−0.085%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330	−0.096%	$273K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	−0.062%	$46.8M	$28.6M	—	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,331.4	−0.064%	$32K	—	25x	as long as short
GRVT XAU_USDT_Perp	+0.0104%	4h	4,333.5	−0.017%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,334.5	+0.008%	$364.1M	$330.8M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,334.5	+0.007%	$414.8M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,333.3	−0.020%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,327.8	−0.147%	$30.1M	$60.3M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.175%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,334.7	+0.011%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0177%	1h	4,334.4	+0.005%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0212%	1h	4,332.5	−0.039%	$195K	$827K	25x	as long as short
HTX XAU-USDT	+0.0232%	4h	4,336.7	+0.058%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,331.5	−0.062%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0254%	4h	4,333.7	−0.012%	$68.1M	$119.0M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0331%	8h	4,334.4	+0.005%	$170.5M	$297.5M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,333.3	−0.020%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0387%	4h	4,335.2	+0.024%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0303%	1h	4,334.7	+0.011%	$253K	—	111x	as long as short