Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.250%

Price spread now: GRVT against Bluefin+0.151%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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and GRVT is 0.151% dearer against Bluefin than usual: you sell high and buy low: +$15 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	4,355	0.0100	pay 0.0013% / 1h	4m 47s	$26K	$22K	20x
Short	GRVT XAU_USDT_Perp	4,361.6	0.0136	get 0.0068% / 4h	3h 04m	$1.4M	$3.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.151%Rate

Funding earned: $7.56
Price spread: +0.151% → 0.000%: $15.11
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $6.67
Costs to cover: 0.160%
Break-even: 0.8 days

Slippage unknown: Bluefin: no order-book sample; GRVT: 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 GRVT live order book, 4 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	doesn't fit	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
Aster XAUUSD1	0.0000%	4h	4,363.6	+0.197%	$70.3M	$217.7M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.6	+0.197%	$265.1M	$422.7M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360.1	+0.116%	$4.0M	$36.7M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,367.5	+0.285%	$93K	$10.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,358.3	+0.074%	$269K	—	250x	as long as short
Variational Omni XAU	+0.0029%	4h	4,362.2	+0.164%	$48.4M	$28.5M	—	as long as short
Extended XAU-USD	+0.0032%	1h	4,358.5	+0.080%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.106%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,362.6	+0.174%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,362.7	+0.176%	$5.6M	$1.9M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,396	+0.941%	—	$1.0M	25x	as long as short
MEXC XAU_USDT	+0.0046%	4h	4,362.8	+0.177%	$373.0M	$331.1M	1000x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,363	+0.183%	$3.4M	$12.4M	25x	as long as short
Binance XAUUSDT	+0.0050%	4h	4,363	+0.184%	$411.7M	$2.15B	100x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,359	+0.091%	$294.0M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.5	+0.078%	$14.8M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	+0.105%	$48K	$64K	25x	as long as short
edgeX XAUUSDC	+0.0062%	4h	4,356	+0.021%	$30.3M	$60.4M	50x	as long as short
Lighter XAU	+0.0072%	1h	4,361.7	+0.152%	$20.6M	$44.5M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,362.6	+0.173%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0096%	1h	4,363.8	+0.201%	$20.2M	$41.4M	25x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,361.7	+0.152%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,358.8	+0.086%	$2.0M	$5.1M	25x	as long as short
Bitget XAUUSDT	+0.0098%	4h	4,362.9	+0.180%	$69.0M	$112.3M	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,359.6	+0.105%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.9	+0.065%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERPlong	+0.0100%	1h	4,355	long leg	$26K	$22K	20x
Hotstuff GOLD-PERP	+0.0104%	1h	4,359	+0.091%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0119%	1h	4,361.4	+0.146%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perpshort	+0.0136%	4h	4,361.6	+0.151%	$1.4M	$3.1M	25x
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,360.6	+0.128%	$235K	$658K	25x	as long as short
BloFin XAU-USDT	+0.0193%	4h	4,362.7	+0.177%	$15.4M	$4.6M	100x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,363.6	+0.197%	$83.9M	$144.9M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0212%	8h	4,363.6	+0.197%	$164.2M	$288.9M	100x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,362.6	+0.173%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,359.7	+0.106%	$595K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0283%	4h	4,363.8	+0.201%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0393% / S −0.0199%	1h	4,362.6	+0.173%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0555%	4h	4,366.8	+0.269%	$2.9M	$3.9M	75x	as long as short