Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.030%

Price spread now: Injective against Binance+0.009%107s7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,350	0.0091	pay 0.0046% / 4h	21m 31s	$413.5M	$2.09B	100x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	21m 31s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.009%Rate

Funding earned: −$12.2
Price spread: +0.009% → 0.000%: $0.87
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$21.34
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 8 min ago; Injective: 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	5.0 bp −$50	6.5 bp −$648	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
RISEx XAU/USDC	0.0000%	1h	4,349.9	−0.003%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,350.9	+0.020%	$265.4M	$415.2M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.6	+0.106%	$93K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.5	−0.083%	$271K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,347.2	−0.065%	$33K	—	25x	as long as short
Lighter XAU	+0.0032%	1h	4,348.9	−0.025%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.2	−0.089%	$13.2M	$38.4M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	+0.009%	$619	$54	52x
Lighter RH XAU	+0.0040%	1h	4,351.1	+0.025%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.7	+0.015%	$3.8M	$4.5M	40x	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	+0.0041%	1h	4,349.4	−0.015%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.4	+0.767%	—	$1.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0047%	24h	4,349	−0.024%	$4.2M	$37.3M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,348.3	−0.040%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.2	−0.065%	$293.8M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,346.1	−0.091%	$15.1M	$56.9M	25x	as long as short
Aster XAUUSD1	+0.0063%	4h	4,351.1	+0.025%	$71.2M	$333.6M	20x	as long as short
Variational Omni XAU	+0.0078%	4h	4,351	+0.022%	$48.4M	$27.9M	—	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,350	−0.002%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0088%	4h	4,350.6	+0.014%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0090%	4h	4,350	0.000%	$372.8M	$318.3M	1000x	as long as short
Binance XAUUSDTlong	+0.0091%	4h	4,350	long leg	$413.5M	$2.09B	100x
Pacifica XAU	+0.0100%	1h	4,347.3	−0.063%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,349.5	−0.012%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,344.4	−0.130%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,346.3	−0.086%	$30.2M	$58.1M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,349.8	−0.005%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,348.4	−0.038%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0158%	1h	4,349.9	−0.003%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0190%	1h	4,350.1	+0.001%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,347.3	−0.062%	$593K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0208%	4h	4,353.2	+0.072%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,349	−0.024%	$206K	$822K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,350.6	+0.012%	$70.0M	$109.4M	100x	as long as short
Bybit XAUUSDT	+0.0244%	4h	4,351.4	+0.030%	$85.3M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0293%	8h	4,351.2	+0.027%	$165.6M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0333%	4h	4,350.9	+0.020%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0416% / S −0.0235%	1h	4,350.3	+0.007%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0624%	4h	4,356.2	+0.141%	$2.9M	$4.3M	75x	as long as short