Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0054%/8hnext payment +$0.07 per $10,000 · paid last 24h −0.003%

Price spread now: Hotstuff against QFEX−0.032%7-day average — · you buy dearer than you sell

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

Long on QFEX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Hotstuff is 0.032% cheaper against QFEX than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 48 hours 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	4,354.8	0.0050	pay 0.0006% / 1h	21m 54s	$5.5M	$1.8M	20x
Short	Hotstuff GOLD-PERP	4,353.4	0.0104	get 0.0013% / 1h	21m 54s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.032%Rate

Funding earned: $11.29
Price spread: −0.032% → 0.000%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$6.93
Costs to cover: 0.150%
Break-even: 11.3 days

Slippage unknown: QFEX: live order book, 11 min ago; Hotstuff: no order-book sample. 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 QFEX live order book, 11 min ago	1.03 bp	6.0 bp −$6	6.0 bp −$60	8.9 bp −$894	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
SunX XAU-USDT	0.0000%	4h	4,360.2	+0.124%	$93K	$11.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.8	−0.047%	$267K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.101%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0034%	24h	4,354.9	+0.002%	$4.0M	$32.3M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.2	+0.032%	$3.8M	$4.4M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.7	+0.824%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.9	−0.044%	$294.1M	$51.5M	25x	as long as short
QFEX GOLD-USDlong	+0.0050%	1h	4,354.8	long leg	$5.5M	$1.8M	20x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.8	−0.069%	$14.9M	$51.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,356.6	+0.041%	$19K	$6K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XAU_USDT	+0.0070%	4h	4,357.4	+0.059%	$273.6M	$406.5M	100x	as long as short
Lighter XAU	+0.0072%	1h	4,355.2	+0.009%	$20.8M	$46.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,353.9	−0.021%	$2.0M	$5.2M	25x	as long as short
RISEx XAU/USDC	+0.0100%	1h	4,356.4	+0.037%	$3.6M	$12.3M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.5	−0.030%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352	−0.065%	$273K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,350.2	−0.107%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERPshort	+0.0104%	1h	4,353.4	−0.032%	$33K	—	25x
Extended XAU-USD	+0.0112%	1h	4,351.6	−0.075%	$13.2M	$51.2M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,356	+0.027%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0113%	1h	4,356	+0.028%	$59K	$77K	10x	as long as short
Variational Omni XAU	+0.0134%	4h	4,355.3	+0.012%	$47.7M	$34.5M	—	as long as short
MEXC XAU_USDT	+0.0138%	4h	4,354.9	+0.001%	$379.3M	$334.4M	1000x	as long as short
Binance XAUUSDT	+0.0140%	4h	4,354.9	+0.001%	$415.2M	$2.07B	100x	as long as short
Aster XAUUSD1	+0.0147%	4h	4,355.1	+0.008%	$70.3M	$240.4M	20x	as long as short
Phoenix GOLD	+0.0151%	1h	4,353.7	−0.025%	$43K	$64K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0156%	4h	4,356	+0.028%	$1.4M	$3.4M	25x	as long as short
edgeX XAUUSDC	+0.0156%	4h	4,352	−0.065%	$30.3M	$56.7M	50x	as long as short
Lighter RH XAU	+0.0160%	1h	4,357.8	+0.070%	$20.4M	$44.8M	25x	as long as short
Bybit XAUUSDT	+0.0172%	4h	4,355.8	+0.022%	$84.1M	$140.1M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,354.8	0.000%	$222K	$959K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0198%	1h	4,356.7	+0.044%	$4.4M	$2.3M	20x	as long as short
Bitget XAUUSDT	+0.0268%	4h	4,354.6	−0.004%	$69.0M	$109.3M	100x	as long as short
HTX XAU-USDT	+0.0283%	4h	4,358.3	+0.081%	$2.8M	$3.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0313%	8h	4,356.3	+0.034%	$158.2M	$269.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,354.3	−0.012%	$588K	$108K	25x	as long as short
Phemex XAUUSDT	+0.0339%	4h	4,358.4	+0.082%	$2.2M	$1.1M	100x	as long as short
BloFin XAU-USDT	+0.0380%	4h	4,356	+0.027%	$14.9M	$4.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0457% / S −0.0291%	1h	4,356	+0.029%	$251K	—	111x	as long as short