Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.062%

Price spread now: BloFin against Bullet−0.049%72s7-day average — · you buy dearer than you sell

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

Long on Bullet Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BloFin is 0.049% cheaper against Bullet than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 29 hours of funding at the current rate (+$4 a day). The two prices were read 72 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	Bullet GOLD-USD	4,327.1	0.0201	pay 0.0025% / 1h	54m 31s	$59K	$82K	10x
Short	BloFin XAU-USDT	4,325	0.0337	get 0.0168% / 4h	1h 54m	$16.0M	$4.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bullet. 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 BulletbpFee BloFinbpOrdersPrice spread, now −0.049%Rate

Funding earned: $28.57
Price spread: −0.049% → 0.000%: −$4.86
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $3.71
Costs to cover: 0.200%
Break-even: 6.1 days

Slippage unknown: Bullet: no order-book sample; BloFin: 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 Bullet no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	0.02 bp	6.1 bp −$6	6.1 bp −$61	7.9 bp −$790	doesn't fit

Bullet: 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-PERP	−0.0032%	1h	4,319.1	−0.185%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,328.6	+0.033%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,320	−0.163%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0010%	4h	4,322.2	−0.113%	$77.7M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,318.4	−0.201%	$13.1M	$36.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.539%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.3	+0.004%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,321.8	−0.123%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.6	+0.635%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.7	−0.171%	$291.4M	$51.6M	25x	as long as short

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	4,318.2	−0.207%	$15.0M	$56.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,321.7	−0.124%	$20.3M	$30.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,321	−0.141%	$32K	—	25x	as long as short
Kalshi KXGOLDPERP	+0.0068%	24h	4,326.5	−0.014%	$3.9M	$42.7M	15x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,322.7	−0.102%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322.6	−0.104%	$2.1M	$4.9M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0074%	4h	4,326.5	−0.014%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0076%	4h	4,324.3	−0.066%	$274.5M	$405.2M	100x	as long as short
Aster XAUUSD1	+0.0080%	4h	4,323.1	−0.093%	$72.3M	$317.5M	20x	as long as short
Variational Omni XAU	+0.0089%	4h	4,326.3	−0.019%	$47.1M	$29.2M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,324.2	−0.068%	$19.8M	$38.3M	25x	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,322.3	−0.111%	$363.2M	$324.3M	1000x	as long as short
Binance XAUUSDT	+0.0097%	4h	4,321.5	−0.129%	$413.3M	$2.13B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,318.9	−0.190%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.3	−0.111%	$272K	$208K	50x	as long as short
edgeX XAUUSDC	+0.0102%	4h	4,324.1	−0.069%	$30.1M	$60.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,324	−0.071%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,324.8	−0.053%	$47K	$79K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,322.1	−0.116%	$589K	$130K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,322.8	−0.099%	$3.7M	$12.5M	25x	as long as short
Bullet GOLD-USDlong	+0.0201%	1h	4,327.1	long leg	$59K	$82K	10x
HTX XAU-USDT	+0.0206%	4h	4,328.2	+0.025%	$2.8M	$4.9M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0207%	1h	4,321.5	−0.130%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,321.4	−0.132%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0305%	1h	4,323.4	−0.086%	$193K	$829K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0317%	8h	4,322.2	−0.114%	$170.1M	$296.9M	100x	as long as short
BloFin XAU-USDTshort	+0.0337%	4h	4,325	−0.049%	$16.0M	$4.4M	100x
Phemex XAUUSDT	+0.0395%	4h	4,327.8	+0.015%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,324.4	−0.062%	$253K	—	111x	as long as short