Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h −0.021%

Price spread now: Coinbase International against Binance−0.082%7-day average −0.074% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.358%+$36 on $10k

Price spread, last 2 days (all we have)−0.032%−$3 · spread now −0.082%, 7d avg −0.074%

Together, before fees+0.327%+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.074%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,363.4	0	get 0.0000% / 4h	25m 54s	$406.8M	$2.12B	100x
Short	Coinbase International GOLD-PERP-INTX	4,359.8	0.0152	get 0.0019% / 1h	25m 54s	$2.0M	$5.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.082%Rate

Funding earned: $31.92
Price spread: −0.082% → −0.074%: −$0.88
Slippage, 4 orders: −$1.94
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $9.1
Costs to cover: 0.219%
Break-even: 5.0 days

Slippage from Binance: live order book, 3 min ago; Coinbase International: 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 Binance live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.6 bp −$657	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.69 bp	5.7 bp −$6	7.6 bp −$76	doesn't fit	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	−0.0188%	1h	4,356.4	−0.160%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,361.1	−0.053%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,364.7	+0.029%	$71.6M	$226.0M	20x	as long as short
Binance XAUUSDTlong	0.0000%	4h	4,363.4	long leg	$406.8M	$2.12B	100x
Bybit XAUUSDT	0.0000%	4h	4,364.3	+0.019%	$82.7M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,363.3	−0.002%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,364.3	+0.021%	$267.9M	$411.7M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,364.1	+0.015%	$376.0M	$322.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,364.1	+0.015%	$66.9M	$112.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,362.9	−0.013%	$48.4M	$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	4,362.6	−0.019%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,361.3	−0.048%	$4.0M	$35.9M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,368.5	+0.116%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,360.2	−0.073%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0017%	4h	4,358.4	−0.115%	$30.3M	$58.5M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,363.1	−0.007%	$5.4M	$1.8M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,363.5	+0.001%	$20.7M	$44.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,360.3	−0.070%	$13.1M	$45.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.297%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,362.4	−0.023%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,397.4	+0.779%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,366	+0.059%	$20.2M	$41.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.2	−0.073%	$293.5M	$52.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,359.7	−0.084%	$14.5M	$56.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0052%	8h	4,363.4	−0.001%	$19K	$5K	5x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,359.5	−0.089%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,362.8	−0.013%	$162K	$87	10x	as long as short
Bullet GOLD-USD	+0.0089%	1h	4,363.5	+0.002%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0089%	1h	4,362.9	−0.011%	$4.3M	$1.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,359.9	−0.080%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.7	−0.038%	$277K	$204K	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,362.5	−0.021%	$235K	$736K	25x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0152%	1h	4,359.8	−0.082%	$2.0M	$5.1M	25x
OKX XAU-USDT-SWAP	+0.0158%	8h	4,364.5	+0.025%	$158.8M	$272.8M	100x	as long as short
HTX XAU-USDT	+0.0161%	4h	4,367.1	+0.084%	$2.8M	$3.7M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,360.9	−0.057%	$602K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,363	−0.010%	$14.8M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0334%	4h	4,366	+0.060%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,363.8	+0.008%	$252K	—	111x	as long as short