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 −0.001%

Price spread now: Lighter RH against Aster0.000%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$100.099% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.029%−$3 · spread now 0.000%, 7d avg −0.021%

Together, before fees−0.068%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board−$7 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 Lighter RH is 0.021% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XAUUSD1	4,343.9	0	get 0.0000% / 4h	2h 01m	$71.1M	$240.7M	20x
Short	Lighter RH XAU	4,343.9	0.0032	get 0.0004% / 1h	1m 22s	$20.2M	$45.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.72
Price spread: 0.000% → −0.021%: $2.14
Slippage, 4 orders: −$1.87
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$1.01
Costs to cover: 0.099%
Break-even: 8.0 days

Slippage from Aster: live order book, 3 min ago; Lighter RH: 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 Aster live order book, 3 min ago	0.01 bp	4.0 bp −$4	5.2 bp −$52	115.6 bp −$11.6K	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.74 bp	1.0 bp −$1	2.1 bp −$21	20.9 bp −$2,085	doesn't fit

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	−0.0570%	1h	4,337	−0.160%	$26K	$21K	20x	as long as short
Aster XAUUSD1long	0.0000%	4h	4,343.9	long leg	$71.1M	$240.7M	20x
Binance XAUUSDT	0.0000%	4h	4,344.3	+0.009%	$411.5M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,344.9	+0.022%	$82.6M	$144.7M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,345.8	+0.043%	$273.9M	$413.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,343.5	−0.010%	$371.5M	$350.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,344.9	+0.023%	$67.3M	$113.9M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,341.5	−0.055%	$47.8M	$33.8M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,342	−0.044%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,341.4	−0.058%	$3.9M	$34.1M	15x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet GOLD-USD	0.0000%	1h	4,344.3	+0.009%	$59K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,346.7	+0.065%	$92K	$10.9M	20x	as long as short
HTX XAU-USDT	0.0000%	4h	4,348.2	+0.097%	$2.8M	$3.8M	75x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,337.8	−0.141%	$30.2M	$58.0M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,341.5	−0.057%	$20.7M	$46.8M	25x	as long as short
Lighter RH XAUshort	+0.0032%	1h	4,343.9	0.000%	$20.2M	$45.1M	25x
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.017%	$13.2M	$50.6M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0033%	1h	4,340	−0.090%	$292.2M	$53.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.149%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,342.7	−0.028%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,381.9	+0.874%	—	$995K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,342.2	−0.040%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.7	−0.028%	$14.3M	$54.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,344.2	+0.006%	$19K	$6K	5x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,344	+0.002%	$5.5M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,340.6	−0.077%	$2.0M	$5.2M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,342.6	−0.031%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.3	−0.037%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343	−0.022%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.4	−0.012%	$47K	$69K	25x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,339.7	−0.097%	$33K	—	25x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,345.5	+0.036%	$158.1M	$274.8M	100x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,343.9	−0.001%	$3.4M	$12.6M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,342.4	−0.036%	$14.8M	$4.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,340.3	−0.083%	$599K	$152K	25x	as long as short
Phemex XAUUSDT	+0.0407%	4h	4,344.8	+0.020%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,344.4	+0.010%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0672%	1h	4,341.9	−0.047%	$221K	$878K	25x	as long as short