Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.037%

Price spread now: Coinbase International against Bitget−0.048%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.048%, 7d avg −0.106%

Together, before fees+0.291%+$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.058% dearer against Bitget than usual: you sell high and buy low (spread −0.048% now, against its 7-day average of −0.106%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 7 days funding on this pair paid +0.304%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,347	0.0276	pay 0.0138% / 4h	2h 54m	$71.2M	$108.2M	100x
Short	Coinbase International GOLD-PERP-INTX	4,344.9	0.0072	get 0.0009% / 1h	54m 53s	$2.1M	$4.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$42.84
Price spread: −0.048% → −0.106%: $5.8
Slippage, 4 orders: −$3.01
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$62.06
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 4 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 Bitget live order book, 4 min ago	0.01 bp	6.6 bp −$7	7.9 bp −$79	11.2 bp −$1,116	doesn't fit
Sell Coinbase International live order book, 4 min ago	0.12 bp	5.5 bp −$6	7.5 bp −$75	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	−0.0153%	1h	4,340	−0.160%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.2	+0.097%	$92K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.1	−0.089%	$272K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.4	−0.105%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.079%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.3	−0.039%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,345.9	−0.025%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.6	+0.750%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,346.1	−0.021%	$20.7M	$30.2M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,342.7	−0.098%	$293.7M	$49.3M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.3	−0.086%	$15.1M	$56.7M	25x	as long as short
Kalshi KXGOLDPERP	+0.0053%	24h	4,345.3	−0.039%	$4.3M	$39.2M	15x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,347.6	+0.014%	$3.7M	$12.6M	25x	as long as short
Bybit XAUUSDT	+0.0056%	4h	4,347.8	+0.018%	$80.1M	$151.9M	150x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,347.1	+0.003%	$19K	$5K	5x	as long as short
Gate XAU_USDT	+0.0070%	4h	4,348.2	+0.029%	$269.1M	$395.3M	100x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0072%	1h	4,344.9	−0.048%	$2.1M	$4.7M	25x
Pacifica XAU	+0.0100%	1h	4,343.7	−0.075%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	−0.084%	$274K	$203K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,348.6	+0.037%	$20.1M	$38.0M	25x	as long as short
Aster XAUUSD1	+0.0105%	4h	4,348.6	+0.037%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0105%	4h	4,347	+0.001%	$48.4M	$27.7M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,346.1	−0.020%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,346.3	−0.015%	$370.0M	$317.0M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,346.3	−0.015%	$419.0M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,341.7	−0.122%	$30.2M	$57.9M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0126%	4h	4,346.6	−0.009%	$1.4M	$2.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,343.5	−0.080%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0136%	1h	4,343.3	−0.085%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0164%	1h	4,347	+0.001%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,345.7	−0.029%	$203K	$825K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0166%	1h	4,346.5	−0.011%	$4.2M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0214%	4h	4,349.7	+0.063%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,343.4	−0.083%	$591K	$130K	25x	as long as short
Bitget XAUUSDTlong	+0.0276%	4h	4,347	long leg	$71.2M	$108.2M	100x
HTX XAU-USDT	+0.0319%	4h	4,349.5	+0.057%	$2.8M	$4.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0333%	8h	4,348.4	+0.033%	$167.8M	$282.5M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,347	+0.001%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,347	+0.001%	$250K	—	111x	as long as short