Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0173%/8h= −18.9% APRpaid last 24h −0.044%

Price spread now: QFEX against Bitget−0.015%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.119%−$12 on $10k

Price spread, last 7 days−0.035%−$4 · spread now −0.015%, 7d avg −0.049%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.034% dearer against Bitget than usual: you sell high and buy low (spread −0.015% now, against its 7-day average of −0.049%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,337.2	0.0214	pay 0.0107% / 4h	1h 47m	$72.8M	$139.6M	100x
Short	QFEX GOLD-USD	4,336.5	0.0041	get 0.0005% / 1h	47m 03s	$6.7M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. 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 BitgetbpFee QFEXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$36.34
Price spread: −0.015% → −0.049%: $3.38
Slippage, 4 orders: −$4.65
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$59.61
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; QFEX: 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 Bitget live order book, 5 min ago	0.01 bp	6.0 bp −$6	7.4 bp −$74	12.7 bp −$1,271	doesn't fit
Sell QFEX live order book, 5 min ago	2.31 bp	7.3 bp −$7	7.3 bp −$73	10.3 bp −$1,027	doesn't fit

XAU on 39 exchanges

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
Hotstuff GOLD-PERP	−3.0304%	1h	4,318.3	−0.435%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0059%	1h	4,331.1	−0.140%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,340.7	+0.082%	$92K	$5.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,333.4	−0.087%	$2.1M	$5.3M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,333.5	−0.086%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.305%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,338.4	+0.028%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDshort	+0.0041%	1h	4,336.5	−0.015%	$6.7M	$3.2M	20x
Vest GC-PERP	+0.0046%	1h	4,370.3	+0.764%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,334.2	−0.068%	$292.6M	$51.5M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,333.1	−0.095%	$15.1M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,336.9	−0.005%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,338.2	+0.024%	$72.5M	$276.0M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0064%	1h	4,336.1	−0.025%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0073%	1h	4,335.2	−0.045%	$135K	$707K	25x	as long as short
Variational Omni XAU	+0.0079%	4h	4,338.5	+0.031%	$47.3M	$29.2M	—	as long as short
Lighter XAU	+0.0080%	1h	4,336.3	−0.019%	$20.2M	$30.4M	25x	as long as short
Gate XAU_USDT	+0.0082%	4h	4,338.5	+0.031%	$298.7M	$444.1M	100x	as long as short
Lighter RH XAU	+0.0088%	1h	4,338.6	+0.034%	$19.7M	$39.9M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0096%	4h	4,337.9	+0.017%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0097%	4h	4,336.6	−0.014%	$442.8M	$2.43B	100x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,337.1	−0.003%	$368.2M	$352.4M	1000x	as long as short
Pacifica XAU	+0.0100%	1h	4,333.2	−0.092%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,336.2	−0.023%	$285K	$223K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,335.9	−0.028%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,335.5	−0.039%	$30.3M	$67.5M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,333.2	−0.092%	$12.5M	$34.7M	25x	as long as short
Bybit XAUUSDT	+0.0121%	4h	4,338.2	+0.023%	$82.4M	$172.6M	150x	as long as short
Phoenix GOLD	+0.0127%	1h	4,334.2	−0.068%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0137%	24h	4,338.7	+0.035%	$3.5M	$51.1M	15x	as long as short
Bullet GOLD-USD	+0.0167%	1h	4,336.9	−0.006%	$59K	$76K	10x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,337.9	+0.016%	$4.7M	$13.2M	25x	as long as short
Phemex XAUUSDT	+0.0214%	4h	4,339.6	+0.056%	$2.3M	$784K	100x	as long as short
Bitget XAUUSDTlong	+0.0214%	4h	4,337.2	long leg	$72.8M	$139.6M	100x
OKX XAU-USDT-SWAP	+0.0238%	8h	4,338.1	+0.021%	$170.8M	$361.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,333.8	−0.078%	$584K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0338%	4h	4,337.1	−0.002%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,336.9	−0.006%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1085%	4h	4,344.4	+0.167%	$3.2M	$7.1M	75x	as long as short