Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.016%

Price spread now: Lighter against Aster−0.087%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$110.106% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days+0.064%+$6 · spread now −0.087%, 7d avg −0.052%

Together, before fees+0.081%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.035% cheaper against Aster than usual: you would sell low and buy high (spread −0.087% now, against its 7-day average of −0.052%). If the spread goes back, that is −$4 on $10k: about 3.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.017% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XAUUSD1	4,344.8	0	get 0.0000% / 4h	2h 11m	$70.8M	$241.0M	20x
Short	Lighter XAU	4,341	0.0032	get 0.0004% / 1h	11m 17s	$20.7M	$46.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.087%Rate

Funding earned: $6.72
Price spread: −0.087% → −0.052%: −$3.54
Slippage, 4 orders: −$2.63
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.45
Costs to cover: 0.106%
Break-even: 14.8 days

Slippage from Aster: live order book, 3 min ago; Lighter: live order book, 8 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 Aster live order book, 3 min ago	0.01 bp	4.0 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.28 bp	1.4 bp −$1	5.1 bp −$51	11.6 bp −$1,164	31.0 bp −$15.5K

XAU on 38 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	−0.0400%	1h	4,334.7	−0.233%	$26K	$21K	20x	as long as short
Aster XAUUSD1long	0.0000%	4h	4,344.8	long leg	$70.8M	$241.0M	20x
Bybit XAUUSDT	0.0000%	4h	4,342.5	−0.055%	$82.6M	$144.9M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,343.4	−0.032%	$273.2M	$413.4M	100x	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,342.1	−0.064%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,341.5	−0.076%	$3.9M	$34.1M	15x	as long as short
Bullet GOLD-USD	0.0000%	1h	4,342.3	−0.059%	$58K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,346.4	+0.035%	$92K	$10.9M	20x	as long as short
Bitget XAUUSDT	+0.0010%	4h	4,342.6	−0.052%	$67.1M	$114.0M	100x	as long as short
Binance XAUUSDT	+0.0022%	4h	4,342.5	−0.054%	$415.6M	$2.12B	100x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XAU_USDT	+0.0024%	4h	4,341.4	−0.079%	$373.1M	$349.7M	1000x	as long as short
Lighter XAUshort	+0.0032%	1h	4,341	−0.087%	$20.7M	$46.8M	25x
Lighter RH XAU	+0.0032%	1h	4,343.8	−0.024%	$20.2M	$45.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344	−0.019%	$13.2M	$51.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.129%	$619	$54	52x	as long as short
HTX XAU-USDT	+0.0038%	4h	4,346.2	+0.031%	$2.8M	$3.8M	75x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.8	−0.024%	$3.8M	$4.7M	40x	as long as short
Variational Omni XAU	+0.0046%	4h	4,343.7	−0.027%	$47.8M	$34.0M	—	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.2	+0.860%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.5	−0.122%	$293.1M	$52.7M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,341.8	−0.070%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.1	−0.086%	$14.5M	$54.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0051%	8h	4,342.9	−0.045%	$19K	$6K	5x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,342.5	−0.053%	$5.5M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0066%	4h	4,338.8	−0.139%	$30.2M	$57.7M	50x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,338.1	−0.155%	$2.0M	$5.2M	25x	as long as short
BloFin XAU-USDT	+0.0086%	4h	4,342.2	−0.061%	$14.8M	$4.3M	100x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,342	−0.065%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.8	−0.068%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.3	−0.172%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.5	−0.030%	$47K	$69K	25x	as long as short
Hotstuff GOLD-PERP	+0.0176%	1h	4,339.7	−0.118%	$33K	—	25x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,342.4	−0.057%	$3.4M	$12.6M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0205%	8h	4,343.5	−0.030%	$157.9M	$275.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,339	−0.133%	$599K	$140K	25x	as long as short
Phemex XAUUSDT	+0.0420%	4h	4,345.8	+0.023%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0495% / S −0.0311%	1h	4,342.1	−0.062%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0903%	1h	4,340.9	−0.090%	$221K	$884K	25x	as long as short