Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0034%/8h= +3.8% APRpaid last 24h 0.000%

Price spread now: Gate against QFEX+0.039%7-day average +0.071% · 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−$33as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 7 days+0.036%+$4 · spread now +0.039%, 7d avg +0.071%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.032% cheaper against QFEX than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.071%). If the spread goes back, that is −$3 on $10k: about 3.1 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.005% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,344	0.0042	pay 0.0005% / 1h	13m 52s	$5.6M	$2.1M	20x
Short	Gate XAU_USDT	4,345.7	0.0076	get 0.0038% / 4h	3h 13m	$268.3M	$418.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.039%Rate

Funding earned: $7.22
Price spread: +0.039% → +0.071%: −$3.17
Slippage, 4 orders: −$4.4
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$25.34
Costs to cover: 0.294%
Break-even: 31.6 days

Slippage from QFEX: live order book, 5 min ago; Gate: 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 QFEX live order book, 5 min ago	2.19 bp	7.2 bp −$7	7.2 bp −$72	9.5 bp −$948	doesn't fit
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	9.0 bp −$90	12.9 bp −$1,287	14.3 bp −$7,171

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	4,348.6	+0.106%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.3	−0.086%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,344.7	+0.016%	$3.8M	$12.5M	25x	as long as short
Bluefin GOLD-PERP	+0.0007%	1h	4,337.5	−0.151%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.4	−0.083%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.148%	$619	$54	52x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,340.6	−0.078%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.1	+0.025%	$3.8M	$4.5M	40x	as long as short
Bybit XAUUSDT	+0.0041%	4h	4,345.4	+0.032%	$79.9M	$152.1M	150x	as long as short
QFEX GOLD-USDlong	+0.0042%	1h	4,344	long leg	$5.6M	$2.1M	20x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,376.9	+0.757%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,341.2	−0.064%	$293.7M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.6	−0.055%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,341.9	−0.048%	$4.3M	$37.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.4	−0.013%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.3	−0.108%	$2.1M	$4.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,343.9	−0.001%	$19K	$5K	5x	as long as short
Gate XAU_USDTshort	+0.0076%	4h	4,345.7	+0.039%	$268.3M	$418.4M	100x
Lighter RH XAU	+0.0080%	1h	4,345.8	+0.042%	$20.2M	$40.1M	25x	as long as short
Aster XAUUSD1	+0.0095%	4h	4,346	+0.046%	$71.5M	$331.7M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,340.4	−0.082%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.8	−0.073%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0107%	4h	4,343.1	−0.022%	$48.4M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.5	−0.011%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,344.4	+0.010%	$371.6M	$320.9M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,344.5	+0.010%	$418.7M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.9	−0.071%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0136%	4h	4,340.1	−0.090%	$30.2M	$58.3M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0165%	1h	4,343	−0.023%	$205K	$825K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0172%	4h	4,344.3	+0.007%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0182%	4h	4,347	+0.070%	$2.2M	$967K	100x	as long as short
Polymarket Perps GOLD-USD	+0.0208%	1h	4,344	0.000%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0210%	1h	4,344.5	+0.012%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,341	−0.069%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0270%	4h	4,345	+0.023%	$71.1M	$109.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0327%	8h	4,345.4	+0.032%	$167.2M	$282.7M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,344.1	+0.002%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,344.4	+0.010%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0488%	4h	4,346.8	+0.064%	$2.8M	$4.6M	75x	as long as short