Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0184%/8h= −20.2% APRpaid last 24h −0.052%

Price spread now: QFEX against OKX−0.069%7-day average −0.052% · 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−$27as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.103%−$10 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.069%, 7d avg −0.052%

Together, before fees−0.075%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.052%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,323.6	0.0226	pay 0.0226% / 8h	4h 53m	$170.9M	$361.2M	100x
Short	QFEX GOLD-USD	4,320.6	0.0042	get 0.0005% / 1h	53m 15s	$6.7M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$38.72
Price spread: −0.069% → −0.052%: −$1.77
Slippage, 4 orders: −$5.32
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$65.81
Costs to cover: 0.253%
Break-even: never at this rate

Slippage from OKX: 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 OKX live order book, 4 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.4 bp −$741	16.2 bp −$8,119
Sell QFEX live order book, 4 min ago	2.54 bp	7.5 bp −$8	7.5 bp −$75	9.8 bp −$982	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
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,319.5	−0.095%	$2.1M	$5.0M	25x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,320.5	−0.072%	$35K	$3K	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.7	+0.094%	$92K	$5.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.5	−0.095%	$309K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.620%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.9	+0.007%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDshort	+0.0042%	1h	4,320.6	−0.069%	$6.7M	$3.3M	20x
Aster XAUUSD1	+0.0045%	4h	4,324.8	+0.027%	$71.4M	$276.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356.1	+0.752%	—	$1.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.3	−0.099%	$15.2M	$59.2M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,321.5	−0.049%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,322.7	−0.020%	$4.6M	$13.3M	25x	as long as short
Variational Omni XAU	+0.0065%	4h	4,322.2	−0.032%	$47.1M	$28.0M	—	as long as short
Gate XAU_USDT	+0.0070%	4h	4,325.4	+0.041%	$299.5M	$432.4M	100x	as long as short
tradeXYZ xyz:GOLD	+0.0075%	1h	4,320.5	−0.072%	$291.9M	$45.4M	25x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,323.2	−0.010%	$362.4M	$348.9M	1000x	as long as short
Binance XAUUSDT	+0.0084%	4h	4,322.9	−0.016%	$440.7M	$2.42B	100x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,319.8	−0.089%	$30.2M	$66.4M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0094%	4h	4,323.1	−0.011%	$1.4M	$3.1M	25x	as long as short
Lighter XAU	+0.0096%	1h	4,322.1	−0.034%	$20.1M	$30.0M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.9	−0.086%	$1.4M	$1.4M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.7	−0.090%	$286K	$227K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,318.1	−0.127%	$25K	$1K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322	−0.036%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0124%	1h	4,321.2	−0.056%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0146%	24h	4,323.6	0.000%	$3.5M	$51.6M	15x	as long as short
Lighter RH XAU	+0.0152%	1h	4,325	+0.031%	$19.5M	$39.0M	25x	as long as short
Bybit XAUUSDT	+0.0154%	4h	4,323.9	+0.007%	$82.9M	$166.8M	150x	as long as short
Kraken Futures PF_XAUUSD	+0.0197%	1h	4,320.6	−0.070%	$582K	$166K	25x	as long as short
Bitget XAUUSDT	+0.0200%	4h	4,324.2	+0.013%	$73.0M	$140.2M	100x	as long as short
Phemex XAUUSDT	+0.0211%	4h	4,326.1	+0.058%	$2.2M	$733K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,321.8	−0.042%	$135K	$659K	25x	as long as short
Extended XAU-USD	+0.0216%	1h	4,319.1	−0.104%	$12.5M	$34.0M	25x	as long as short
Bullet GOLD-USD	+0.0220%	1h	4,323.4	−0.005%	$59K	$77K	10x	as long as short
OKX XAU-USDT-SWAPlong	+0.0226%	8h	4,323.6	long leg	$170.9M	$361.2M	100x
Polymarket Perps GOLD-USD	+0.0234%	1h	4,323.4	−0.005%	$4.3M	$1.7M	20x	as long as short
BloFin XAU-USDT	+0.0323%	4h	4,325	+0.033%	$16.5M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0258%	1h	4,323.6	−0.001%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1031%	4h	4,330	+0.149%	$3.2M	$7.1M	75x	as long as short