Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0470%/8h= +51.5% APRpaid last 24h −0.140%

Price spread now: BloFin against Bluefin+0.178%114s7-day average — · you sell dearer than you buy

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

Long on Bluefin Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and BloFin is 0.178% dearer against Bluefin than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 114 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	Bluefin GOLD-PERP	4,363.3	−0.0230	get 0.0029% / 1h	15m 29s	$26K	$22K	20x
Short	BloFin XAU-USDT	4,371	0.0240	get 0.0120% / 4h	15m 29s	$14.8M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bluefin. 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 BluefinbpFee BloFinbpOrdersPrice spread, now +0.178%Rate

Funding earned: $98.75
Price spread: +0.178% → 0.000%: $17.83
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $97.58
Costs to cover: 0.190%
Break-even: 0.1 days

Slippage unknown: Bluefin: no order-book sample; BloFin: live order book, 3 min ago. 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 Bluefin no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.2 bp −$62	7.4 bp −$737	doesn't fit

Bluefin: 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
Bluefin GOLD-PERPlong	−0.0230%	1h	4,363.3	long leg	$26K	$22K	20x
Hotstuff GOLD-PERP	−0.0008%	1h	4,366.9	+0.083%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	+0.161%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.1	+0.180%	$71.9M	$224.9M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,370.6	+0.168%	$410.8M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,371.2	+0.182%	$82.7M	$142.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371	+0.178%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.3	+0.184%	$267.4M	$417.7M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.5	+0.167%	$375.3M	$324.1M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.4	+0.163%	$69.6M	$113.4M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,370.5	+0.166%	$48.5M	$29.3M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,371	+0.178%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,368	+0.109%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.3	+0.276%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,366.5	+0.074%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,365.9	+0.060%	$30.4M	$59.4M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,370	+0.154%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.294%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,369.7	+0.148%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,371.8	+0.196%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,404.8	+0.952%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,372.2	+0.205%	$20.2M	$42.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,366.6	+0.077%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367	+0.085%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,370.5	+0.166%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,366.8	+0.080%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.1	+0.157%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.4	+0.095%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.6	+0.121%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0104%	1h	4,370	+0.154%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0111%	1h	4,370.7	+0.170%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	+0.157%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,371.3	+0.184%	$158.6M	$274.4M	100x	as long as short
HTX XAU-USDT	+0.0181%	4h	4,377	+0.315%	$2.8M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,367.7	+0.103%	$602K	$137K	25x	as long as short
BloFin XAU-USDTshort	+0.0240%	4h	4,371	+0.178%	$14.8M	$4.5M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0254%	1h	4,369.1	+0.134%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0317%	4h	4,370.3	+0.160%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,370.7	+0.170%	$252K	—	111x	as long as short