Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.077%

Price spread now: ApeX Omni against BloFin−0.090%103s7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$430.432% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.090%, 7d avg −0.049%

Together, before fees−0.308%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.041% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.049%). Swap the legs. The two prices were read 103 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	BloFin XAU-USDT	4,322.3	0.0339	pay 0.0169% / 4h	49m 22s	$16.4M	$4.6M	100x
Short	ApeX Omni XAUUSDT	4,318.5	0.0100	get 0.0013% / 1h	49m 22s	$272K	$208K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.090%Rate

Funding earned: −$50.19
Price spread: −0.090% → −0.049%: −$4.1
Slippage, 4 orders: −$21.18
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$97.47
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 53 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 BloFin live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.2 bp −$62	7.8 bp −$777	doesn't fit
Sell ApeX Omni live order book, 53 min ago	4.45 bp	17.3 bp −$17	30.5 bp −$305	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	−0.0076%	1h	4,316.4	−0.138%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.8	+0.104%	$92K	$7.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.4	−0.068%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0027%	4h	4,323.8	+0.034%	$76.9M	$153.0M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.650%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.1	+0.041%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,321.6	−0.017%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.5	+0.768%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.4	−0.068%	$291.6M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319	−0.078%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0061%	4h	4,324.4	+0.049%	$72.7M	$272.7M	20x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,320.3	−0.047%	$32K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,323.2	+0.021%	$2K	$14K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,322.4	+0.001%	$20.3M	$28.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,318.2	−0.095%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0087%	24h	4,323.7	+0.032%	$3.8M	$44.4M	15x	as long as short
Variational Omni XAU	+0.0092%	4h	4,321	−0.030%	$47.3M	$29.0M	—	as long as short
Phoenix GOLD	+0.0096%	1h	4,319.3	−0.070%	$47K	$79K	25x	as long as short
Gate XAU_USDT	+0.0098%	4h	4,323.6	+0.031%	$279.3M	$410.6M	100x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,323.1	+0.018%	$364.6M	$325.3M	1000x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,323.1	+0.018%	$425.4M	$2.14B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.9	−0.056%	$1.4M	$1.2M	10x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,323.9	+0.037%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,318.5	−0.090%	$272K	$208K	50x
Aevo XAU-PERP	+0.0104%	1h	4,322.5	+0.004%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0106%	4h	4,317.6	−0.110%	$30.0M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0136%	1h	4,324	+0.039%	$20.0M	$38.7M	25x	as long as short
Extended XAU-USD	+0.0160%	1h	4,318.9	−0.079%	$13.1M	$36.8M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0190%	1h	4,322.5	+0.004%	$163K	$864K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,323.1	+0.018%	$70.2M	$119.1M	100x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,322.8	+0.011%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,322.5	+0.004%	$4.3M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,320.1	−0.052%	$577K	$136K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0288%	8h	4,323.3	+0.023%	$173.4M	$300.5M	100x	as long as short
BloFin XAU-USDTlong	+0.0339%	4h	4,322.3	long leg	$16.4M	$4.6M	100x
HTX XAU-USDT	+0.0366%	4h	4,327.4	+0.117%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDT	+0.0385%	4h	4,325.9	+0.084%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,322.8	+0.011%	$252K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,323.5	+0.027%	$4.4M	$13.3M	25x	as long as short