Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0310%/8h= −33.9% APRpaid last 24h −0.092%

Price spread now: tradeXYZ against BloFin−0.075%48s7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as 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−$310.308% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.362%−$36 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.075%, 7d avg −0.094%

Together, before fees−0.392%+ Points / potential airdroptradeXYZ: Active · farm board−$39 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.094%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 48 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	4,346.2	0.0360	pay 0.0180% / 4h	3h 04m	$15.8M	$4.4M	100x
Short	tradeXYZ xyz:GOLD	4,342.9	0.0050	get 0.0006% / 1h	4m 26s	$293.8M	$49.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$65.02
Price spread: −0.075% → −0.094%: $1.83
Slippage, 4 orders: −$0.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$94.03
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; tradeXYZ: live order book, 4 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, 4 min ago	0.01 bp	6.1 bp −$6	6.1 bp −$61	7.1 bp −$714	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.12 bp	9.1 bp −$9	10.0 bp −$100	12.0 bp −$1,204	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	−0.0013%	1h	4,339.8	−0.148%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.6	+0.102%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.6	−0.082%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,347.3	+0.026%	$3.7M	$12.5M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.7	−0.080%	$13.2M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.098%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,346.1	−0.002%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,345.1	−0.025%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.4	+0.764%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLDshort	+0.0050%	1h	4,342.9	−0.075%	$293.8M	$49.1M	25x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.4	−0.064%	$15.0M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0052%	24h	4,344.8	−0.032%	$4.2M	$39.3M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,345.8	−0.010%	$20.7M	$34.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.7	−0.103%	$2.1M	$4.7M	25x	as long as short
Bybit XAUUSDT	+0.0059%	4h	4,347.9	+0.039%	$80.1M	$152.0M	150x	as long as short
Gate XAU_USDT	+0.0060%	4h	4,348.3	+0.049%	$268.4M	$419.2M	100x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,346.4	+0.005%	$19K	$5K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,342.6	−0.082%	$33K	—	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,348.5	+0.053%	$20.2M	$40.2M	25x	as long as short
Aster XAUUSD1	+0.0100%	4h	4,346.5	+0.007%	$71.5M	$331.5M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,343	−0.073%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,341.7	−0.103%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0105%	4h	4,345.4	−0.019%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,345.9	−0.007%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,346.9	+0.017%	$370.4M	$321.9M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,346.9	+0.016%	$418.9M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0135%	4h	4,340	−0.141%	$30.2M	$57.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,341.7	−0.103%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0148%	4h	4,345.6	−0.013%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0199%	4h	4,349.1	+0.066%	$2.2M	$967K	100x	as long as short
Polymarket Perps GOLD-USD	+0.0203%	1h	4,346.6	+0.010%	$4.2M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,347	+0.019%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,344.4	−0.041%	$204K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,343	−0.073%	$590K	$135K	25x	as long as short
Bitget XAUUSDT	+0.0276%	4h	4,347.4	+0.029%	$71.1M	$108.8M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0331%	8h	4,348.1	+0.044%	$167.2M	$283.4M	100x	as long as short
BloFin XAU-USDTlong	+0.0360%	4h	4,346.2	long leg	$15.8M	$4.4M	100x
HTX XAU-USDT	+0.0396%	4h	4,347.9	+0.040%	$2.8M	$4.6M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,346.9	+0.017%	$250K	—	111x	as long as short