Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.030%

Price spread now: Hotstuff against Binance−0.095%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 Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hotstuff is 0.095% cheaper against Binance than usual: you would sell low and buy high, −$10 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,363	0.0047	pay 0.0024% / 4h	3h 06m	$411.7M	$2.15B	100x
Short	Hotstuff GOLD-PERP	4,358.8	0.0056	get 0.0007% / 1h	6m 01s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.095%Rate

Funding earned: $1.85
Price spread: −0.095% → 0.000%: −$9.53
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$22.68
Costs to cover: 0.150%
Break-even: 92.9 days

Slippage unknown: Binance: live order book, 8 min ago; Hotstuff: 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, 8 min ago	0.01 bp	5.0 bp −$5	5.5 bp −$55	7.6 bp −$763	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Aster XAUUSD1	0.0000%	4h	4,363.8	+0.019%	$70.3M	$214.7M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.8	+0.020%	$265.1M	$422.4M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,359.3	−0.084%	$4.0M	$36.7M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.7	+0.062%	$93K	$10.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,358.8	−0.094%	$269K	—	250x	as long as short
Variational Omni XAU	+0.0029%	4h	4,362.2	−0.018%	$48.4M	$28.5M	—	as long as short
Extended XAU-USD	+0.0032%	1h	4,358.7	−0.098%	$13.5M	$43.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.287%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,362.6	−0.008%	$3.8M	$4.7M	40x	as long as short
MEXC XAU_USDT	+0.0044%	4h	4,363	+0.001%	$372.9M	$331.0M	1000x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0045%	1h	4,359.8	−0.072%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,395.9	+0.755%	—	$1.0M	25x	as long as short
Binance XAUUSDTlong	+0.0047%	4h	4,363	long leg	$411.7M	$2.15B	100x
RISEx XAU/USDC	+0.0048%	1h	4,361.8	−0.025%	$3.4M	$12.4M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,359.4	−0.082%	$294.0M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.2	−0.109%	$14.8M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,357.7	−0.120%	$48K	$64K	25x	as long as short
Hotstuff GOLD-PERPshort	+0.0056%	1h	4,358.8	−0.095%	$33K	—	25x
edgeX XAUUSDC	+0.0057%	4h	4,354.2	−0.201%	$30.3M	$60.3M	50x	as long as short
Lighter XAU	+0.0072%	1h	4,361.7	−0.029%	$20.6M	$44.5M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,361.1	−0.043%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,361.6	−0.032%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0096%	1h	4,364.2	+0.028%	$20.2M	$41.4M	25x	as long as short
Bitget XAUUSDT	+0.0096%	4h	4,363.2	+0.004%	$69.0M	$112.3M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,359.8	−0.072%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,359.2	−0.086%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.9	−0.116%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,355.4	−0.172%	$26K	$22K	20x	as long as short
Polymarket Perps GOLD-USD	+0.0119%	1h	4,361.6	−0.031%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,361.6	−0.031%	$1.4M	$3.1M	25x	as long as short
BloFin XAU-USDT	+0.0179%	4h	4,362.2	−0.016%	$15.4M	$4.6M	100x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,363.8	+0.019%	$83.9M	$144.9M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0212%	8h	4,363.8	+0.019%	$164.3M	$288.9M	100x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,362.6	−0.008%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,359.7	−0.076%	$595K	$141K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,361.5	−0.033%	$235K	$658K	25x	as long as short
Phemex XAUUSDT	+0.0297%	4h	4,363.8	+0.019%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,362.8	−0.004%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.0558%	4h	4,366.8	+0.087%	$2.9M	$3.9M	75x	as long as short