Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.010%

Price spread now: GMX against Bitget+0.029%7-day average −0.001% · you sell dearer than you buy

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.029%, 7d avg −0.001%

Together, before fees+0.083%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.031% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,319.7	0.0208	pay 0.0104% / 4h	2h 18m	$74.0M	$134.2M	100x
Short	GMX GOLD/USD [ETH-USDC]	4,321	L +0.0459% / S −0.0306%	get 0.0038% / 1h	18m 50s	$252K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $20.49
Price spread: +0.029% → −0.001%: $3.05
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.46
Costs to cover: 0.240%
Break-even: 7.2 days

Slippage unknown: Bitget: live order book, 3 min ago; GMX: 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 Bitget live order book, 3 min ago	0.01 bp	6.1 bp −$6	7.4 bp −$74	12.0 bp −$1,196	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 exchanges

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	4,325.5	+0.134%	$92K	$6.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,317.1	−0.061%	$274K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,316.1	−0.084%	$2.0M	$5.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.711%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,319.3	−0.010%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,320.7	+0.023%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.7	+0.787%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,316.3	−0.079%	$291.4M	$52.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,317.1	−0.061%	$15.0M	$57.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,319.4	−0.007%	$2K	$13K	5x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx XAU/USDC	+0.0056%	1h	4,320.2	+0.012%	$4.7M	$13.5M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,321.9	+0.050%	$73.6M	$274.4M	20x	as long as short
Phoenix GOLD	+0.0076%	1h	4,316.9	−0.065%	$43K	$72K	25x	as long as short
Gate XAU_USDT	+0.0082%	4h	4,321.7	+0.047%	$300.0M	$444.2M	100x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,316.7	−0.070%	$32K	—	25x	as long as short
Variational Omni XAU	+0.0090%	4h	4,319	−0.018%	$47.0M	$29.3M	—	as long as short
Lighter XAU	+0.0096%	1h	4,320.1	+0.010%	$20.1M	$29.9M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,316.2	−0.082%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,316.5	−0.075%	$283K	$223K	50x	as long as short
MEXC XAU_USDT	+0.0112%	4h	4,319.6	−0.002%	$360.3M	$359.9M	1000x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,320.2	+0.012%	$160K	$87	10x	as long as short
Binance XAUUSDT	+0.0114%	4h	4,319.9	+0.003%	$440.3M	$2.37B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,318.7	−0.022%	$1.4M	$3.0M	25x	as long as short
Bybit XAUUSDT	+0.0116%	4h	4,320.8	+0.025%	$80.5M	$170.8M	150x	as long as short
edgeX XAUUSDC	+0.0124%	4h	4,315	−0.108%	$30.1M	$66.2M	50x	as long as short
Kalshi KXGOLDPERP	+0.0130%	24h	4,321.7	+0.046%	$3.5M	$49.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0133%	1h	4,320.6	+0.020%	$4.3M	$1.7M	20x	as long as short
Lighter RH XAU	+0.0144%	1h	4,322.9	+0.073%	$20.0M	$40.0M	25x	as long as short
Extended XAU-USD	+0.0144%	1h	4,315.8	−0.090%	$12.7M	$35.1M	25x	as long as short
Bluefin GOLD-PERP	+0.0146%	1h	4,314.3	−0.127%	$25K	$1K	20x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,320.9	+0.028%	$59K	$76K	10x	as long as short
Bitget XAUUSDTlong	+0.0208%	4h	4,319.7	long leg	$74.0M	$134.2M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,319.9	+0.004%	$135K	$788K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0242%	8h	4,321.2	+0.034%	$170.4M	$354.3M	100x	as long as short
BloFin XAU-USDT	+0.0354%	4h	4,321	+0.029%	$16.2M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0412%	1h	4,318.1	−0.038%	$581K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]short	L +0.0459% / S −0.0306%	1h	4,321	+0.029%	$252K	—	111x
Phemex XAUUSDT	+0.0491%	4h	4,321.5	+0.041%	$2.2M	$783K	100x	as long as short
HTX XAU-USDT	+0.1123%	4h	4,327.8	+0.187%	$3.2M	$7.0M	75x	as long as short