Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0215%/8h= +23.5% APRpaid last 24h −0.215%

Price spread now: Bybit against Bluefin+0.158%7-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 Bybit

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 +$6 a day on $10k at the current rate, and Bybit is 0.158% dearer against Bluefin than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin GOLD-PERP	4,360.5	−0.0215	get 0.0027% / 1h	20m 16s	$26K	$22K	20x
Short	Bybit XAUUSDT	4,367.4	0	get 0.0000% / 4h	20m 16s	$82.6M	$142.3M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.158%Rate

Funding earned: $45.09
Price spread: +0.158% → 0.000%: $15.8
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $42.9
Costs to cover: 0.180%
Break-even: 0.3 days

Slippage unknown: Bluefin: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	6.3 bp −$63	11.5 bp −$1,151	35.2 bp −$17.6K

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	−0.0215%	1h	4,360.5	long leg	$26K	$22K	20x
Hotstuff GOLD-PERP	−0.0104%	1h	4,362.3	+0.042%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,360.3	−0.004%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,367.8	+0.168%	$71.7M	$225.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,367.3	+0.157%	$410.2M	$2.13B	100x	as long as short
Bybit XAUUSDTshort	0.0000%	4h	4,367.4	+0.158%	$82.6M	$142.3M	150x
RISEx XAU/USDC	0.0000%	1h	4,366.9	+0.147%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,368.2	+0.178%	$269.3M	$414.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,366.8	+0.145%	$376.5M	$323.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,367.6	+0.164%	$69.7M	$113.5M	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	4,366.6	+0.140%	$48.5M	$30.2M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,364.9	+0.102%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,364.4	+0.090%	$4.1M	$36.0M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,372.5	+0.277%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.7	+0.074%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,359.1	−0.032%	$30.3M	$58.8M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,366	+0.127%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.230%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,365.9	+0.124%	$20.7M	$44.8M	25x	as long as short
Extended XAU-USD	+0.0040%	1h	4,363.1	+0.061%	$13.1M	$45.4M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,367.1	+0.152%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,400.4	+0.916%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,368.2	+0.176%	$20.2M	$42.1M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.9	+0.056%	$293.7M	$52.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,363.3	+0.066%	$14.6M	$56.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0053%	8h	4,366.8	+0.144%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,366.7	+0.144%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0098%	1h	4,366.3	+0.134%	$4.3M	$1.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,363.7	+0.074%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,362.3	+0.042%	$277K	$204K	50x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,367.2	+0.154%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364.4	+0.090%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0161%	8h	4,368.4	+0.182%	$159.0M	$274.0M	100x	as long as short
HTX XAU-USDT	+0.0170%	4h	4,370.7	+0.235%	$2.8M	$3.7M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.5	+0.093%	$602K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,367.2	+0.154%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0277%	1h	4,366.4	+0.136%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0327%	4h	4,367.2	+0.153%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,368.2	+0.176%	$252K	—	111x	as long as short