Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0512%/8h= +56.1% APRpaid last 24h +0.046%

Price spread now: HTX against QFEX+0.121%7-day average +0.063% · 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−$27as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.121%, 7d avg +0.063%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and HTX is 0.058% dearer against QFEX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.063%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.047% in total (about 5.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,362.7	0.0045	pay 0.0006% / 1h	59m 05s	$5.6M	$1.9M	20x
Short	HTX XAU-USDT	4,368	0.0558	get 0.0279% / 4h	2h 59m	$2.9M	$3.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.121%Rate

Funding earned: $107.58
Price spread: +0.121% → +0.063%: $5.85
Slippage, 4 orders: −$10.71
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $80.72
Costs to cover: 0.327%
Break-even: 1.7 days

Slippage from QFEX: live order book, 9 min ago; HTX: 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, 9 min ago	3.10 bp	8.1 bp −$8	8.1 bp −$81	10.3 bp −$1,031	doesn't fit
Sell HTX live order book, 5 min ago	0.01 bp	9.0 bp −$9	12.9 bp −$129	25.0 bp −$2,504	37.6 bp −$18.8K

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	−0.0167%	1h	4,355.4	−0.167%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,361.8	−0.021%	$69.8M	$241.9M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.3	−0.033%	$264.7M	$400.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360	−0.062%	$4.0M	$36.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.4	+0.061%	$93K	$10.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.4	−0.122%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,357.5	−0.119%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.281%	$619	$54	52x	as long as short
Variational Omni XAU	+0.0040%	4h	4,362	−0.016%	$48.4M	$28.5M	—	as long as short
StandX XAU-USD	+0.0040%	1h	4,363	+0.007%	$3.8M	$4.7M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USDlong	+0.0045%	1h	4,362.7	long leg	$5.6M	$1.9M	20x
Vest GC-PERP	+0.0046%	1h	4,396.2	+0.768%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,359.9	−0.064%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357	−0.131%	$294.0M	$51.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,361	−0.039%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.8	−0.089%	$14.8M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	−0.071%	$48K	$64K	25x	as long as short
MEXC XAU_USDT	+0.0058%	4h	4,361	−0.039%	$372.3M	$318.3M	1000x	as long as short
Binance XAUUSDT	+0.0060%	4h	4,361.4	−0.030%	$411.5M	$2.13B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.141%	$30.3M	$60.4M	50x	as long as short
Lighter RH XAU	+0.0064%	1h	4,361.6	−0.025%	$20.2M	$40.5M	25x	as long as short
Lighter XAU	+0.0072%	1h	4,359.9	−0.065%	$20.6M	$43.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,358.6	−0.094%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.3	+0.015%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,360.8	−0.043%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.1	−0.059%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.2	−0.081%	$275K	$204K	50x	as long as short
Bitget XAUUSDT	+0.0112%	4h	4,360.1	−0.060%	$69.5M	$111.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,359.8	−0.066%	$235K	$659K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,362.9	+0.004%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.3	−0.010%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,362.6	−0.003%	$59K	$82K	10x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,361.1	−0.037%	$83.6M	$145.1M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0216%	8h	4,361.7	−0.023%	$164.2M	$286.6M	100x	as long as short
BloFin XAU-USDT	+0.0241%	4h	4,362.7	+0.001%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358.7	−0.091%	$594K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0291%	4h	4,364.2	+0.033%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361.5	−0.028%	$254K	—	111x	as long as short
HTX XAU-USDTshort	+0.0558%	4h	4,368	+0.121%	$2.9M	$3.9M	75x