Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0023%/8h= +2.5% APRpaid last 24h −0.017%

Price spread now: Paradex against Bullet−0.053%7-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 Paradex

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

Funding pays, the price is against you. Paradex is 0.053% cheaper against Bullet than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 7.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet GOLD-USD	4,365.5	0.0028	pay 0.0003% / 1h	44m 24s	$60K	$81K	10x
Short	Paradex XAU-USD-PERP	4,363.2	0.0050	get 0.0050% / 8h	44m 24s	$19K	$6K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.053%Rate

Funding earned: $4.75
Price spread: −0.053% → 0.000%: −$5.32
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$12.57
Costs to cover: 0.120%
Break-even: 25.5 days

Slippage unknown: Bullet: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

Bullet and Paradex: 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	−0.0327%	1h	4,359.1	−0.147%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,364.9	−0.014%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.3	+0.018%	$71.6M	$228.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.5	0.000%	$408.4M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366.2	+0.015%	$82.6M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.2	−0.031%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.3	+0.019%	$268.1M	$407.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.7	+0.003%	$377.0M	$320.9M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,366	+0.011%	$66.9M	$111.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	+0.008%	$48.5M	$30.6M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,367.4	+0.043%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,362.8	−0.062%	$4.0M	$35.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,368.3	+0.064%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362.4	−0.072%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0007%	4h	4,361.8	−0.085%	$30.3M	$58.2M	50x	as long as short
Bullet GOLD-USDlong	+0.0028%	1h	4,365.5	long leg	$60K	$81K	10x
QFEX GOLD-USD	+0.0032%	1h	4,362.9	−0.060%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,362.6	−0.066%	$20.9M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,365.1	−0.010%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,360.2	−0.121%	$13.0M	$46.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.346%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,364.8	−0.017%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.8	+0.785%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,360.2	−0.122%	$33K	—	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0048%	1h	4,362.1	−0.078%	$235K	$735K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.6	−0.067%	$293.7M	$52.3M	25x	as long as short
Paradex XAU-USD-PERPshort	+0.0050%	8h	4,363.2	−0.053%	$19K	$6K	5x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.3	−0.074%	$14.5M	$56.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0074%	1h	4,365.4	−0.003%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,363.3	−0.050%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.4	−0.117%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,363.9	−0.037%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0133%	4h	4,367.4	+0.044%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364.6	−0.021%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,366.9	+0.032%	$158.0M	$271.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,361.1	−0.100%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,364.8	−0.017%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0306%	4h	4,366.6	+0.025%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,365.5	0.000%	$252K	—	111x	as long as short