Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h 0.000%

Price spread now: Gate against QFEX+0.094%7-day average +0.070% · 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−$29as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%$0 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.094%, 7d avg +0.070%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.024% dearer against QFEX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX GOLD-USD	4,330	0.0044	pay 0.0005% / 1h	10m 44s	$5.4M	$2.1M	20x
Short	Gate XAU_USDT	4,334.1	0.0072	get 0.0036% / 4h	2h 10m	$272.2M	$416.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.094%Rate

Funding earned: $5.91
Price spread: +0.094% → +0.070%: $2.37
Slippage, 4 orders: −$6.78
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$23.5
Costs to cover: 0.318%
Break-even: 34.8 days

Slippage from QFEX: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	2.66 bp	7.7 bp −$8	7.7 bp −$77	9.3 bp −$932	doesn't fit
Sell Gate live order book, 3 min ago	0.01 bp	8.0 bp −$8	9.2 bp −$92	13.4 bp −$1,341	17.1 bp −$8,574

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	−0.0042%	1h	4,325.2	−0.112%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,337.2	+0.165%	$92K	$8.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,328.3	−0.038%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,334.2	+0.098%	$78.4M	$156.7M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,329.7	−0.008%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.472%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,330	0.000%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USDlong	+0.0044%	1h	4,330	long leg	$5.4M	$2.1M	20x
Vest GC-PERP	+0.0046%	1h	4,363.9	+0.783%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,332.4	+0.056%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,329.6	−0.009%	$291.9M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,327.9	−0.048%	$15.0M	$56.6M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,332.6	+0.060%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,333.1	+0.072%	$4.0M	$42.1M	15x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,321.2	−0.203%	$32K	—	25x	as long as short
Lighter RH XAU	+0.0072%	1h	4,334.7	+0.109%	$19.9M	$38.9M	25x	as long as short
Gate XAU_USDTshort	+0.0072%	4h	4,334.1	+0.094%	$272.2M	$416.2M	100x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,327.9	−0.048%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,331.7	+0.038%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,335.1	+0.118%	$72.3M	$330.6M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,327.8	−0.050%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.2	−0.135%	$272K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	+0.034%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	−0.100%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,333.7	+0.085%	$364.6M	$330.1M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,333.4	+0.079%	$414.7M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,331.2	+0.027%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.079%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0128%	4h	4,322.8	−0.166%	$30.1M	$60.2M	50x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,331.9	+0.045%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0176%	1h	4,331.8	+0.042%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0234%	4h	4,334.6	+0.107%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,329.4	−0.014%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0258%	4h	4,333	+0.070%	$68.1M	$118.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,331.5	+0.035%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0333%	8h	4,333.8	+0.088%	$170.8M	$296.8M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,333.3	+0.077%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0404%	4h	4,335.2	+0.119%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0459% / S −0.0302%	1h	4,332.2	+0.052%	$253K	—	111x	as long as short