Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0321%/8h= −35.2% APRpaid last 24h −0.105%

Price spread now: gTrade (Gains Network) against BloFin−0.133%50s7-day average −0.105% · 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—prices read too far apart to compare

costs, in and out, $10k−$2792.792% of the position

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.314%−$31 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.133%, 7d avg −0.105%

Together, before fees−0.355%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and gTrade (Gains Network) is 0.028% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.105%). Swap the legs. The two prices were read 50 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	4,332.8	0.0324	pay 0.0162% / 4h	1h 04m	$16.4M	$5.2M	100x
Short	gTrade (Gains Network) XAU/USD	4,327.1	L +0.0002% / S −0.0003%	get 0.0000% / 1h	4m 11s	$304K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.133%Rate

Funding earned: −$67.48
Price spread: −0.133% → −0.105%: −$2.82
Slippage, 4 orders: −$260.23
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$349.53
Costs to cover: 2.792%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle exchange), 43 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, 3 min ago	0.01 bp	6.1 bp −$6	6.3 bp −$63	7.9 bp −$788	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle exchange), 43 min ago	130.00 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	doesn't fit

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
Hotstuff GOLD-PERP	−3.2000%	1h	4,330.6	−0.052%	$35K	$3K	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,336.2	+0.077%	$92K	$5.7M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,326.6	−0.144%	$2.1M	$5.0M	25x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,327.1	−0.133%	$304K	—	250x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.406%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,332.9	+0.001%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,331.4	−0.033%	$6.7M	$3.2M	20x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,333.1	+0.005%	$71.8M	$276.6M	20x	as long as short
Bluefin GOLD-PERP	+0.0045%	1h	4,325.2	−0.177%	$25K	$1K	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.2	+0.747%	—	$1.0M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,328.7	−0.096%	$292.6M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,327.9	−0.114%	$15.2M	$59.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,331.3	−0.036%	$2K	$13K	5x	as long as short
Variational Omni XAU	+0.0069%	4h	4,331.2	−0.037%	$47.2M	$28.4M	—	as long as short
Gate XAU_USDT	+0.0072%	4h	4,332.5	−0.008%	$299.9M	$452.4M	100x	as long as short
Lighter XAU	+0.0080%	1h	4,330.4	−0.056%	$20.1M	$30.6M	25x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,331.2	−0.037%	$367.1M	$358.2M	1000x	as long as short
Binance XAUUSDT	+0.0083%	4h	4,331.2	−0.039%	$442.0M	$2.42B	100x	as long as short
edgeX XAUUSDC	+0.0086%	4h	4,328.1	−0.109%	$30.3M	$66.5M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0092%	4h	4,332.4	−0.011%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,328.2	−0.107%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.4	−0.056%	$287K	$227K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,330.3	−0.058%	$160K	$87	10x	as long as short
Lighter RH XAU	+0.0120%	1h	4,333.3	+0.010%	$19.6M	$40.5M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,329.8	−0.070%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0144%	24h	4,332.3	−0.012%	$3.5M	$51.5M	15x	as long as short
Bybit XAUUSDT	+0.0156%	4h	4,332.6	−0.005%	$83.0M	$166.8M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0160%	1h	4,331.2	−0.038%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0166%	1h	4,329.5	−0.077%	$135K	$662K	25x	as long as short
Phemex XAUUSDT	+0.0171%	4h	4,334.3	+0.034%	$2.3M	$775K	100x	as long as short
Bullet GOLD-USD	+0.0179%	1h	4,331.5	−0.032%	$59K	$77K	10x	as long as short
Extended XAU-USD	+0.0192%	1h	4,327.4	−0.127%	$12.5M	$34.2M	25x	as long as short
Bitget XAUUSDT	+0.0200%	4h	4,331.4	−0.034%	$72.6M	$139.9M	100x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,331.6	−0.030%	$4.7M	$13.3M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0228%	8h	4,332	−0.019%	$171.2M	$361.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0254%	1h	4,328.8	−0.094%	$583K	$166K	25x	as long as short
BloFin XAU-USDTlong	+0.0324%	4h	4,332.8	long leg	$16.4M	$5.2M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,332.4	−0.011%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1034%	4h	4,338.3	+0.126%	$3.2M	$7.1M	75x	as long as short