Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.022%

Price spread now: Binance against QFEX+0.007%7-day average +0.048% · 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−$29as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on QFEX Short on Binance

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+0.028%+$3 · spread now +0.007%, 7d avg +0.048%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.041% cheaper against QFEX than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.048%). If the spread goes back, that is −$4 on $10k: about 2.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,307.1	0.0045	pay 0.0006% / 1h	7m 29s	$5.7M	$2.7M	20x
Short	Binance XAUUSDT	4,307.4	0.0110	get 0.0055% / 4h	7m 29s	$429.0M	$2.16B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.007%Rate

Funding earned: $13.7
Price spread: +0.007% → +0.048%: −$4.09
Slippage, 4 orders: −$5.35
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$15.74
Costs to cover: 0.254%
Break-even: 15.0 days

Slippage from QFEX: live order book, 6 min ago; Binance: live order book, 7 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 QFEX live order book, 6 min ago	2.66 bp	7.7 bp −$8	7.7 bp −$77	10.1 bp −$1,011	doesn't fit
Sell Binance live order book, 7 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	7.3 bp −$733	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	4,313.8	+0.155%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,306.1	−0.024%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.006%	$619	$54	52x	as long as short
QFEX GOLD-USDlong	+0.0045%	1h	4,307.1	long leg	$5.7M	$2.7M	20x
Vest GC-PERP	+0.0046%	1h	4,340.1	+0.766%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.5	−0.084%	$290.0M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.7	−0.079%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,308.4	+0.030%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,306.9	−0.005%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0063%	1h	4,305.1	−0.047%	$25K	$1K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0071%	4h	4,308.3	+0.028%	$77.6M	$154.8M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,306.4	−0.017%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,306.4	−0.016%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.158%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0099%	24h	4,312.9	+0.135%	$3.7M	$45.2M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.217%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,304.1	−0.070%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.149%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,308.9	+0.043%	$19.9M	$40.2M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,303.1	−0.093%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,307.8	+0.016%	$364.7M	$339.9M	1000x	as long as short
Binance XAUUSDTshort	+0.0110%	4h	4,307.4	+0.007%	$429.0M	$2.16B	100x
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.208%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,309.5	+0.055%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0116%	4h	4,309.1	+0.047%	$284.3M	$429.8M	100x	as long as short
StandX XAU-USD	+0.0118%	1h	4,313.1	+0.139%	$3.8M	$4.5M	40x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,303.9	−0.074%	$32K	—	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.140%	$30.0M	$59.8M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,307.1	0.000%	$70.6M	$121.3M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,307.5	+0.009%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,307.4	+0.007%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,307.5	+0.008%	$573K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0261%	1h	4,308.6	+0.035%	$136K	$864K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,307.4	+0.007%	$175.2M	$304.7M	100x	as long as short
BloFin XAU-USDT	+0.0350%	4h	4,312.8	+0.131%	$16.5M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0432%	4h	4,313.4	+0.147%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0312%	1h	4,310.7	+0.083%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0537%	4h	4,318	+0.253%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	+0.006%	$4.5M	$13.1M	25x	as long as short