Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0355%/8h= −38.8% APRpaid last 24h +0.212%

Price spread now: Bluefin against Binance−0.138%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bluefin is 0.138% cheaper against Binance than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,366.2	0	get 0.0000% / 4h	46m 11s	$408.5M	$2.10B	100x
Short	Bluefin GOLD-PERP	4,360.2	−0.0355	pay 0.0044% / 1h	46m 11s	$26K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Binance. 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 BinancebpFee BluefinbpOrdersPrice spread, now −0.138%Rate

Funding earned: −$74.49
Price spread: −0.138% → 0.000%: −$13.76
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$105.25
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 13 min ago; Bluefin: no order-book sample. Net counts fees only.

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 Binance live order book, 13 min ago	0.01 bp	5.0 bp −$5	5.2 bp −$52	7.3 bp −$731	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPshort	−0.0355%	1h	4,360.2	−0.138%	$26K	$21K	20x
Phoenix GOLD	−0.0004%	1h	4,364.9	−0.029%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.9	+0.017%	$71.6M	$228.4M	20x	as long as short
Binance XAUUSDTlong	0.0000%	4h	4,366.2	long leg	$408.5M	$2.10B	100x
Bybit XAUUSDT	0.0000%	4h	4,366.9	+0.017%	$82.8M	$141.3M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,366.3	+0.002%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,367	+0.020%	$268.2M	$406.6M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,366.2	0.000%	$377.0M	$320.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,366.3	+0.003%	$67.0M	$111.0M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.4	+0.004%	$48.5M	$30.9M	—	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	4,367.4	+0.028%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,364.5	−0.038%	$4.0M	$35.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,371	+0.111%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.1	−0.071%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0007%	4h	4,361.8	−0.100%	$30.3M	$58.2M	50x	as long as short
Bullet GOLD-USD	+0.0015%	1h	4,366.4	+0.005%	$60K	$81K	10x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,365.8	−0.008%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,365.5	−0.015%	$20.9M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.7	+0.034%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,363.1	−0.071%	$13.0M	$46.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.361%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.4	+0.005%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,401.2	+0.802%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,363	−0.073%	$293.7M	$52.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,366.1	−0.001%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.8	−0.078%	$14.5M	$56.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,363.1	−0.070%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0072%	1h	4,366	−0.004%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,365.6	−0.013%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,363	−0.073%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,364.9	−0.029%	$277K	$204K	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,365	−0.027%	$235K	$735K	25x	as long as short
HTX XAU-USDT	+0.0131%	4h	4,370	+0.088%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364.6	−0.036%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,367.3	+0.026%	$157.9M	$270.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,363.9	−0.052%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,367.4	+0.029%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0301%	4h	4,369.6	+0.079%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,366.4	+0.006%	$252K	—	111x	as long as short