Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0293%/8h= −32.1% APRpaid last 24h −0.086%

Price spread now: Lighter against BloFin+0.005%60s7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as 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−$140.139% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.351%−$35 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.005%, 7d avg −0.050%

Together, before fees−0.412%+ Points / potential airdropLighter: Season 3 · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.054% dearer against BloFin than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.050%): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 15 hours. The two prices were read 60 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	4,341.7	0.0349	pay 0.0175% / 4h	3h 47m	$15.6M	$4.4M	100x
Short	Lighter XAU	4,342	0.0056	get 0.0007% / 1h	47m 58s	$20.8M	$34.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$61.53
Price spread: +0.005% → −0.050%: $5.44
Slippage, 4 orders: −$1.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$70.01
Costs to cover: 0.139%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Lighter: live order book, 6 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, 6 min ago	0.02 bp	6.2 bp −$6	6.3 bp −$63	7.1 bp −$712	doesn't fit
Sell Lighter live order book, 6 min ago	0.01 bp	0.1 bp $0	1.5 bp −$15	9.4 bp −$935	22.0 bp −$11.0K

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
SunX XAU-USDT	0.0000%	4h	4,346.6	+0.113%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,338.8	−0.067%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,341.4	−0.008%	$3.5M	$12.2M	25x	as long as short
Bluefin GOLD-PERP	+0.0012%	1h	4,335.8	−0.138%	$25K	$14K	20x	as long as short
Lighter RH XAU	+0.0032%	1h	4,343.9	+0.049%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,339.2	−0.057%	$13.3M	$37.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.200%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.7	−0.001%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.7	−0.024%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,374.6	+0.757%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340.4	−0.031%	$293.5M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.8	−0.069%	$15.1M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.8	−0.068%	$4.3M	$37.5M	15x	as long as short
Bybit XAUUSDT	+0.0055%	4h	4,344.1	+0.055%	$80.5M	$150.6M	150x	as long as short
Lighter XAUshort	+0.0056%	1h	4,342	+0.005%	$20.8M	$34.5M	25x
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,340.1	−0.038%	$2.1M	$4.8M	25x	as long as short
Gate XAU_USDT	+0.0060%	4h	4,345	+0.075%	$267.7M	$411.6M	100x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,338.2	−0.082%	$33K	—	25x	as long as short
Aster XAUUSD1	+0.0073%	4h	4,344.2	+0.056%	$71.5M	$332.5M	20x	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,342.1	+0.008%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0082%	4h	4,340.8	−0.021%	$48.4M	$27.6M	—	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,343.4	+0.038%	$372.6M	$317.4M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,343.6	+0.043%	$415.1M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,338.5	−0.075%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.2	−0.059%	$274K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,341.7	−0.001%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,336.5	−0.121%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.3	−0.079%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0144%	4h	4,341	−0.018%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0196%	4h	4,343.9	+0.051%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,341.1	−0.015%	$205K	$826K	25x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,343	+0.029%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,342.5	+0.018%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0242%	4h	4,344	+0.052%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,339.7	−0.046%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0315%	8h	4,344.8	+0.070%	$166.3M	$281.6M	100x	as long as short
BloFin XAU-USDTlong	+0.0349%	4h	4,341.7	long leg	$15.6M	$4.4M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0251%	1h	4,343.1	+0.031%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0527%	4h	4,346	+0.097%	$2.8M	$4.6M	75x	as long as short