Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.013%

Price spread now: QFEX against Bybit+0.018%7-day average −0.062% · 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−$250.255% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.069%−$7 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.018%, 7d avg −0.062%

Together, before fees−0.139%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.080% dearer against Bybit than usual: you sell high and buy low (spread +0.018% now, against its 7-day average of −0.062%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,324.3	0.0142	pay 0.0071% / 4h	2h 55m	$81.6M	$170.1M	150x
Short	QFEX GOLD-USD	4,325.1	0.0038	get 0.0005% / 1h	55m 14s	$6.6M	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$21.81
Price spread: +0.018% → −0.062%: $8.05
Slippage, 4 orders: −$4.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$39.25
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; QFEX: 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 Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	5.8 bp −$58	12.9 bp −$1,291	47.8 bp −$23.9K
Sell QFEX live order book, 4 min ago	2.19 bp	7.2 bp −$7	7.2 bp −$72	9.7 bp −$971	doesn't fit

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	4,328.8	+0.103%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.7	+0.147%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,325.1	+0.018%	$2.0M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.604%	$619	$54	52x	as long as short
QFEX GOLD-USDshort	+0.0038%	1h	4,325.1	+0.018%	$6.6M	$3.0M	20x
StandX XAU-USD	+0.0040%	1h	4,328.5	+0.097%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358.2	+0.783%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.7	−0.107%	$291.8M	$55.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.4	−0.067%	$15.1M	$57.4M	25x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,325.6	+0.029%	$4.6M	$13.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0058%	8h	4,325.2	+0.020%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0060%	4h	4,324.3	0.000%	$74.3M	$273.2M	20x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,323.2	−0.026%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,320.4	−0.090%	$12.7M	$35.7M	25x	as long as short
Variational Omni XAU	+0.0094%	4h	4,326.7	+0.055%	$47.1M	$29.9M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,328.1	+0.087%	$43K	$72K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,324.8	+0.012%	$19.9M	$38.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.3	−0.046%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.6	+0.075%	$284K	$232K	50x	as long as short
Lighter XAU	+0.0104%	1h	4,322.3	−0.046%	$20.1M	$29.4M	25x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,324.7	+0.008%	$302.3M	$429.8M	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,323.5	−0.019%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,323.2	−0.027%	$352.8M	$348.3M	1000x	as long as short
Binance XAUUSDT	+0.0116%	4h	4,323.2	−0.026%	$435.2M	$2.36B	100x	as long as short
Kalshi KXGOLDPERP	+0.0121%	24h	4,326.4	+0.048%	$3.5M	$48.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0122%	1h	4,324.8	+0.011%	$4.3M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0123%	4h	4,325.6	+0.029%	$30.2M	$65.1M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0130%	4h	4,329.2	+0.113%	$1.4M	$3.0M	25x	as long as short
Bybit XAUUSDTlong	+0.0142%	4h	4,324.3	long leg	$81.6M	$170.1M	150x
Deribit GOLD_USDC-PERPETUAL	+0.0167%	1h	4,321.9	−0.056%	$134K	$783K	25x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,324.8	+0.011%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,322.7	−0.038%	$71.7M	$132.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,323.9	−0.010%	$170.7M	$355.8M	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,325	+0.016%	$16.2M	$5.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0412%	1h	4,321.6	−0.063%	$582K	$150K	25x	as long as short
Phemex XAUUSDT	+0.0427%	4h	4,327	+0.061%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0306%	1h	4,324.8	+0.011%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1110%	4h	4,330.9	+0.152%	$3.2M	$7.0M	75x	as long as short
Bluefin GOLD-PERP	+0.4360%	1h	4,318.3	−0.139%	$25K	$1K	20x	as long as short