Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h +0.029%

Price spread now: MEXC against QFEX+0.060%7-day average +0.042% · 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−$17as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on QFEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.062%+$6 on $10k

Price spread, last 7 days−0.035%−$3 · spread now +0.060%, 7d avg +0.042%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,355.8	0.0046	pay 0.0006% / 1h	25m 14s	$5.6M	$1.9M	20x
Short	MEXC XAU_USDT	4,358.4	0.0074	get 0.0037% / 4h	1h 25m	$372.5M	$318.8M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.060%Rate

Funding earned: $5.88
Price spread: +0.060% → +0.042%: $1.78
Slippage, 4 orders: −$5.12
Fee QFEX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$11.46
Costs to cover: 0.191%
Break-even: 20.6 days

Slippage from QFEX: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	2.53 bp	7.5 bp −$8	7.5 bp −$75	9.8 bp −$977	doesn't fit
Sell MEXC live order book, 4 min ago	0.03 bp	2.0 bp −$2	2.2 bp −$22	8.1 bp −$812	26.9 bp −$13.5K

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	4,362.7	+0.158%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.4	−0.031%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0008%	4h	4,359.4	+0.083%	$265.0M	$412.5M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,357.7	+0.044%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354.5	−0.029%	$13.6M	$38.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.124%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,355.7	−0.002%	$4.1M	$37.0M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.7	+0.021%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,358.8	+0.070%	$70.5M	$333.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.4	+0.817%	—	$1.0M	25x	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	+0.0046%	1h	4,355.8	long leg	$5.6M	$1.9M	20x
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,354.9	−0.021%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.9	−0.021%	$294.2M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.4	−0.033%	$15.1M	$57.3M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	+0.030%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,357.5	+0.039%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,355.6	−0.004%	$48.3M	$27.9M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,360.4	+0.104%	$20.2M	$39.7M	25x	as long as short
MEXC XAU_USDTshort	+0.0074%	4h	4,358.4	+0.060%	$372.5M	$318.8M	1000x
Binance XAUUSDT	+0.0074%	4h	4,358.4	+0.059%	$412.1M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,357.8	+0.045%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0093%	4h	4,349.4	−0.147%	$30.3M	$58.3M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,356.7	+0.021%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.4	−0.033%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.043%	$275K	$203K	50x	as long as short
Phemex XAUUSDT	+0.0122%	4h	4,359.2	+0.077%	$2.2M	$1.1M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0126%	1h	4,357.8	+0.046%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.3	−0.126%	$47K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0199%	4h	4,359.7	+0.089%	$84.6M	$145.7M	150x	as long as short
Bullet GOLD-USD	+0.0202%	1h	4,358.2	+0.055%	$60K	$83K	10x	as long as short
Hotstuff GOLD-PERP	+0.0208%	1h	4,352.9	−0.067%	$33K	—	25x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,358.7	+0.066%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,359.9	+0.094%	$165.3M	$282.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355.2	−0.014%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0296%	4h	4,356.2	+0.009%	$15.5M	$4.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0301%	1h	4,357.6	+0.041%	$278K	$727K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0213%	1h	4,358.4	+0.059%	$249K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0519%	1h	4,350.2	−0.128%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0567%	4h	4,363.2	+0.170%	$2.9M	$4.2M	75x	as long as short