Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.092%

Price spread now: BloFin against ApeX Omni+0.017%103s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.463% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now +0.017%, 7d avg +0.050%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.033% cheaper against ApeX Omni than usual: you would sell low and buy high (spread +0.017% now, against its 7-day average of +0.050%). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$4 a day). The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,368.8	0.0100	pay 0.0013% / 1h	17m 18s	$277K	$204K	50x
Short	BloFin XAU-USDT	4,369.5	0.0240	get 0.0120% / 4h	17m 18s	$14.8M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.017%Rate

Funding earned: $29.4
Price spread: +0.017% → +0.050%: −$3.32
Slippage, 4 orders: −$24.25
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$20.17
Costs to cover: 0.463%
Break-even: 11.8 days

Slippage from ApeX Omni: live order book, 60 min ago; BloFin: live order book, 7 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 ApeX Omni live order book, 60 min ago	7.49 bp	16.6 bp −$17	28.1 bp −$281	43.4 bp −$4,342	doesn't fit
Sell BloFin live order book, 7 min ago	0.31 bp	6.3 bp −$6	6.4 bp −$64	7.2 bp −$715	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
Bluefin GOLD-PERP	−0.0222%	1h	4,363.8	−0.113%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	+0.035%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,372.4	+0.084%	$71.7M	$225.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,370.9	+0.048%	$410.6M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,371.2	+0.056%	$82.6M	$142.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371.4	+0.061%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.5	+0.063%	$267.5M	$417.1M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.9	+0.048%	$375.3M	$324.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.7	+0.044%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.6	−0.050%	$48.5M	$30.2M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,373.1	+0.099%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,370.5	+0.040%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.1	+0.144%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,367.2	−0.036%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,362.7	−0.138%	$30.3M	$59.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,367.4	−0.031%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,369.3	+0.012%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.420%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,370.2	+0.033%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,369.2	+0.010%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.5	+0.841%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,372.9	+0.095%	$20.2M	$42.2M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.2	−0.036%	$294.1M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367.6	−0.026%	$14.6M	$56.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,371	+0.052%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,367.2	−0.036%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,371.1	+0.053%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.8	−0.022%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,368.8	long leg	$277K	$204K	50x
Polymarket Perps GOLD-USD	+0.0103%	1h	4,370.8	+0.047%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0108%	1h	4,371.3	+0.058%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	+0.031%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,372.1	+0.076%	$158.6M	$275.4M	100x	as long as short
HTX XAU-USDT	+0.0174%	4h	4,378.5	+0.222%	$2.8M	$3.7M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.3	−0.010%	$603K	$136K	25x	as long as short
BloFin XAU-USDTshort	+0.0240%	4h	4,369.5	+0.017%	$14.8M	$4.5M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0277%	1h	4,369.8	+0.024%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0308%	4h	4,372.3	+0.082%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,370.9	+0.048%	$252K	—	111x	as long as short