Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.110%

Price spread now: Hotstuff against BloFin−0.090%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Hotstuff is 0.090% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAU-USDT	4,355.8	0.0240	pay 0.0120% / 4h	1h 15m	$14.8M	$4.3M	100x
Short	Hotstuff GOLD-PERP	4,351.9	0.0112	get 0.0014% / 1h	15m 56s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$26.88
Price spread: −0.090% → 0.000%: −$9
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$52.88
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; Hotstuff: 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 BloFin live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.1 bp −$61	7.4 bp −$741	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353.5	−0.053%	$601K	$139K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.9	+0.024%	$71.4M	$234.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.9	+0.001%	$409.7M	$2.08B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.8	+0.022%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.8	−0.001%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.5	+0.038%	$271.9M	$409.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355.8	−0.002%	$378.2M	$352.4M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,356.1	+0.006%	$67.1M	$109.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,355.2	−0.014%	$48.0M	$31.0M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.2	−0.013%	$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	4,352.9	−0.067%	$4.0M	$34.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.096%	$93K	$10.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	0.0000%	1h	4,354	−0.042%	$235K	$734K	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.8	−0.069%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,354.8	−0.023%	$5.6M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.9	−0.113%	$30.3M	$58.3M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0018%	1h	4,351.9	−0.090%	$292.8M	$52.9M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,355.3	−0.012%	$21.0M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,357.5	+0.039%	$20.3M	$42.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.8	−0.070%	$13.0M	$49.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.124%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.006%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.2	+0.789%	—	$1.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.6	−0.005%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352	−0.087%	$14.4M	$55.6M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0053%	1h	4,355.8	0.000%	$4.3M	$1.7M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,355.1	−0.016%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.8	−0.070%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.7	−0.072%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.5	−0.168%	$26K	$21K	20x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,356.1	+0.006%	$60K	$85K	10x	as long as short
HTX XAU-USDT	+0.0106%	4h	4,358.7	+0.067%	$2.8M	$3.8M	75x	as long as short
Phoenix GOLD	+0.0109%	1h	4,352.2	−0.083%	$48K	$65K	25x	as long as short
Hotstuff GOLD-PERPshort	+0.0112%	1h	4,351.9	−0.090%	$33K	—	25x
OKX XAU-USDT-SWAP	+0.0157%	8h	4,357	+0.027%	$158.9M	$266.9M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,353	−0.065%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDTlong	+0.0240%	4h	4,355.8	long leg	$14.8M	$4.3M	100x
Phemex XAUUSDT	+0.0311%	4h	4,358.1	+0.053%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.8	−0.001%	$251K	—	111x	as long as short