Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.045%

Price spread now: Deribit against Binance+0.005%7-day average −0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.695%+$69 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.005%, 7d avg −0.107%

Together, before fees+0.662%+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.112% dearer against Binance than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,325.5	0.0116	pay 0.0058% / 4h	2h 55m	$435.4M	$2.36B	100x
Short	Deribit GOLD_USDC-PERPETUAL	4,325.7	0.0236	get 0.0029% / 1h	55m 42s	$134K	$782K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.005%Rate

Funding earned: $25.2
Price spread: +0.005% → −0.107%: $11.23
Slippage, 4 orders: −$3.74
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $15.69
Costs to cover: 0.207%
Break-even: 2.6 days

Slippage from Binance: live order book, 3 min ago; Deribit: live order book, 38 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	7.0 bp −$701	doesn't fit
Sell Deribit live order book, 38 min ago	1.86 bp	5.4 bp −$5	6.6 bp −$66	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
SunX XAU-USDT	0.0000%	4h	4,331.3	+0.133%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.7	+0.120%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,325.1	−0.009%	$2.0M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.576%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,326.9	+0.033%	$6.6M	$3.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,332.7	+0.167%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,360.5	+0.809%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,326.2	+0.017%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,323.4	−0.048%	$292.1M	$55.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.4	−0.094%	$15.1M	$57.4M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx XAU/USDC	+0.0056%	1h	4,329	+0.081%	$4.6M	$13.6M	25x	as long as short
Paradex XAU-USD-PERP	+0.0058%	8h	4,325.2	−0.006%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0060%	4h	4,327.1	+0.036%	$74.3M	$273.1M	20x	as long as short
Extended XAU-USD	+0.0088%	1h	4,322.8	−0.063%	$12.7M	$35.7M	25x	as long as short
Variational Omni XAU	+0.0094%	4h	4,326.7	+0.028%	$47.1M	$29.9M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,333.5	+0.185%	$43K	$67K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,327.5	+0.047%	$19.9M	$38.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.3	−0.073%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330	+0.104%	$284K	$232K	50x	as long as short
Gate XAU_USDT	+0.0104%	4h	4,328.4	+0.067%	$302.8M	$429.4M	100x	as long as short
Lighter XAU	+0.0112%	1h	4,325.4	−0.002%	$20.2M	$29.3M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,327.2	+0.039%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,325.8	+0.007%	$353.1M	$348.1M	1000x	as long as short
Binance XAUUSDTlong	+0.0116%	4h	4,325.5	long leg	$435.4M	$2.36B	100x
Kalshi KXGOLDPERP	+0.0121%	24h	4,329.2	+0.086%	$3.5M	$48.6M	15x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,330.2	+0.108%	$30.3M	$64.9M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,331.1	+0.131%	$1.4M	$3.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0132%	1h	4,327	+0.035%	$4.3M	$1.7M	20x	as long as short
Bybit XAUUSDT	+0.0142%	4h	4,326.9	+0.033%	$81.6M	$170.1M	150x	as long as short
Bullet GOLD-USD	+0.0188%	1h	4,327.8	+0.053%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,326	+0.012%	$72.0M	$132.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0236%	1h	4,325.7	+0.005%	$134K	$782K	25x
OKX XAU-USDT-SWAP	+0.0244%	8h	4,326.5	+0.023%	$170.7M	$355.8M	100x	as long as short
BloFin XAU-USDT	+0.0355%	4h	4,329.7	+0.097%	$16.2M	$5.5M	100x	as long as short
Phemex XAUUSDT	+0.0395%	4h	4,331.6	+0.141%	$2.2M	$961K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,324.7	−0.018%	$582K	$150K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0306%	1h	4,327.8	+0.053%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1112%	4h	4,334.7	+0.212%	$3.2M	$7.0M	75x	as long as short
Bluefin GOLD-PERP	+0.5954%	1h	4,323.3	−0.050%	$25K	$1K	20x	as long as short