Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h 0.000%

Price spread now: Bybit against Aevo+0.132%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$430.427% of the position

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.132%, 7d avg +0.034%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.099% dearer against Aevo than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of +0.034%): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.1 days. At the pace of the last 7 days (−0.054% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XAU-PERP	4,324.8	0.0112	pay 0.0014% / 1h	12m 49s	$160K	$87	10x
Short	Bybit XAUUSDT	4,330.5	0.0007	get 0.0003% / 4h	2h 12m	$77.9M	$156.3M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. 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 AevobpFee BybitbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$22.08
Price spread: +0.132% → +0.034%: $9.85
Slippage, 4 orders: −$15.69
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$54.92
Costs to cover: 0.427%
Break-even: never at this rate

Slippage from Aevo: live order book, 36 min ago; Bybit: live order book, 1 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 Aevo live order book, 36 min ago	5.21 bp	14.9 bp −$15	29.2 bp −$292	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.01 bp	5.5 bp −$6	7.3 bp −$73	11.2 bp −$1,125	34.2 bp −$17.1K

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	−0.0032%	1h	4,319.6	−0.120%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,329.7	+0.114%	$92K	$8.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,321.9	−0.066%	$270K	—	250x	as long as short
Bybit XAUUSDTshort	+0.0007%	4h	4,330.5	+0.132%	$77.9M	$156.3M	150x
Extended XAU-USD	+0.0032%	1h	4,324.2	−0.014%	$13.1M	$37.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.594%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,326.2	+0.033%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,325	+0.006%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,357.9	+0.766%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,325.1	+0.007%	$20.5M	$31.7M	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	4,324.3	−0.010%	$291.6M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.9	−0.066%	$15.0M	$56.6M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,326.5	+0.041%	$3.9M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0062%	24h	4,326.9	+0.050%	$4.0M	$42.0M	15x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,321.2	−0.082%	$32K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,325.3	+0.013%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,327.3	+0.058%	$19.8M	$38.9M	25x	as long as short
Gate XAU_USDT	+0.0072%	4h	4,330.6	+0.134%	$272.5M	$415.4M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,321.3	−0.080%	$2.0M	$4.8M	25x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,330.3	+0.129%	$72.2M	$331.5M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,321.6	−0.074%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.8	−0.045%	$272K	$208K	50x	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	+0.021%	$1.4M	$3.0M	25x	as long as short
Variational Omni XAU	+0.0104%	4h	4,327.8	+0.071%	$46.9M	$28.6M	—	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,329	+0.098%	$363.2M	$329.1M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,329.4	+0.108%	$414.0M	$2.15B	100x	as long as short
Aevo XAU-PERPlong	+0.0112%	1h	4,324.8	long leg	$160K	$87	10x
edgeX XAUUSDC	+0.0127%	4h	4,324.5	−0.006%	$30.1M	$60.5M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,325.4	+0.015%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,325.8	+0.024%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0173%	1h	4,325.6	+0.020%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,324.9	+0.003%	$195K	$829K	25x	as long as short
HTX XAU-USDT	+0.0235%	4h	4,329	+0.098%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0248%	1h	4,322.5	−0.051%	$589K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0258%	4h	4,328.9	+0.096%	$68.0M	$119.1M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0334%	8h	4,330	+0.121%	$170.5M	$297.3M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,326.1	+0.032%	$16.0M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0454% / S −0.0296%	1h	4,326	+0.028%	$250K	—	111x	as long as short
Phemex XAUUSDT	+0.0463%	4h	4,327.7	+0.069%	$2.2M	$962K	100x	as long as short