Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0139%/8h= +15.2% APRpaid last 24h −0.009%

Price spread now: Deribit against Bitget−0.031%7-day average −0.121% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.632%+$63 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now −0.031%, 7d avg −0.121%

Together, before fees+0.557%+$56 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 0.091% dearer against Bitget than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,375.1	0	get 0.0000% / 4h	3h 56m	$69.7M	$114.5M	100x
Short	Deribit GOLD_USDC-PERPETUAL	4,373.8	0.0139	get 0.0017% / 1h	56m 16s	$236K	$654K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $29.15
Price spread: −0.031% → −0.121%: $9.08
Slippage, 4 orders: −$6.56
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $12.68
Costs to cover: 0.256%
Break-even: 4.0 days

Slippage from Bitget: live order book, 3 min ago; Deribit: live order book, 18 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, 3 min ago	0.01 bp	6.2 bp −$6	7.9 bp −$79	11.9 bp −$1,192	doesn't fit
Sell Deribit live order book, 18 min ago	0.11 bp	9.5 bp −$10	10.4 bp −$104	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
Phoenix GOLD	−0.0004%	1h	4,368.5	−0.152%	$48K	$64K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.7	+0.036%	$72.0M	$215.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.5	+0.032%	$410.5M	$2.15B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,377.1	+0.046%	$82.0M	$144.1M	150x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,375.6	+0.011%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.4	+0.028%	$266.9M	$406.2M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.9	+0.016%	$374.2M	$319.8M	1000x	as long as short
Bitget XAUUSDTlong	0.0000%	4h	4,375.1	long leg	$69.7M	$114.5M	100x
Variational Omni XAU	0.0000%	4h	4,377.8	+0.060%	$48.7M	$28.0M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,373.8	−0.031%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,375.3	+0.004%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,379.9	+0.109%	$93K	$10.4M	20x	as long as short
Phemex XAUUSDT	0.0000%	4h	4,377.4	+0.051%	$2.2M	$1.1M	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.5	−0.083%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,366.5	−0.197%	$30.4M	$59.5M	50x	as long as short
Lighter RH XAU	+0.0032%	1h	4,377.9	+0.063%	$20.2M	$40.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.565%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,375.3	+0.004%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,376.9	+0.040%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,411.8	+0.838%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,378	+0.066%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.9	−0.051%	$294.9M	$53.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,373.5	−0.037%	$14.7M	$57.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,377.8	+0.061%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.5	−0.014%	$20.7M	$43.0M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,372.7	−0.056%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0092%	1h	4,376.7	+0.036%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0096%	1h	4,372	−0.071%	$13.2M	$44.3M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,373.2	−0.044%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,375	−0.003%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,370.4	−0.108%	$277K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,369.6	−0.127%	$26K	$22K	20x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0139%	1h	4,373.8	−0.031%	$236K	$654K	25x
OKX XAU-USDT-SWAP	+0.0164%	8h	4,378.4	+0.075%	$161.0M	$280.1M	100x	as long as short
Bullet GOLD-USD	+0.0177%	1h	4,376.6	+0.034%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.8	−0.032%	$596K	$154K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,376.2	+0.025%	$14.8M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.9	+0.017%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,380.9	+0.131%	$2.9M	$3.8M	75x	as long as short