Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h +0.002%

Price spread now: Aevo against Bybit−0.025%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Bybit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.025%, 7d avg −0.032%

Together, before fees+0.084%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,363.7	0.0089	pay 0.0045% / 4h	3h 31m	$82.9M	$143.5M	150x
Short	Aevo XAU-PERP	4,362.6	0.0080	get 0.0010% / 1h	31m 55s	$162K	$87	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bybit. 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 BybitbpFee AevobpOrdersPrice spread, now −0.025%Rate

Funding earned: −$1.94
Price spread: −0.025% → −0.032%: $0.71
Slippage, 4 orders: −$14.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$42.86
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Aevo: live order book, 42 min ago.

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 Bybit live order book, 2 min ago	0.01 bp	5.5 bp −$6	6.6 bp −$66	13.3 bp −$1,328	39.9 bp −$20.0K
Sell Aevo live order book, 42 min ago	5.30 bp	14.9 bp −$15	27.8 bp −$278	doesn't fit	doesn't fit

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	−0.002%	$71.1M	$200.8M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,364.4	+0.017%	$265.6M	$414.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.3	+0.038%	$48.6M	$27.5M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360.5	−0.073%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,367.5	+0.087%	$93K	$10.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,359.1	−0.104%	$267K	—	250x	as long as short
MEXC XAU_USDT	+0.0008%	4h	4,362.7	−0.023%	$373.3M	$325.3M	1000x	as long as short
Binance XAUUSDT	+0.0011%	4h	4,363.3	−0.008%	$410.6M	$2.15B	100x	as long as short
edgeX XAUUSDC	+0.0022%	4h	4,359.4	−0.097%	$30.3M	$60.5M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.304%	$619	$54	52x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin XAU-USDT	+0.0035%	4h	4,363.8	+0.004%	$15.5M	$4.5M	100x	as long as short
Bitget XAUUSDT	+0.0038%	4h	4,363.3	−0.009%	$69.6M	$113.3M	100x	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.9	+0.005%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,363.4	−0.006%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,397.3	+0.770%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,363.9	+0.006%	$3.4M	$12.3M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,360.3	−0.077%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360	−0.084%	$293.9M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.9	−0.109%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,362.9	−0.018%	$48K	$64K	25x	as long as short
Lighter XAU	+0.0072%	1h	4,362.3	−0.032%	$20.6M	$43.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,363.2	−0.011%	$19K	$5K	5x	as long as short
Aevo XAU-PERPshort	+0.0080%	1h	4,362.6	−0.025%	$162K	$87	10x
Bybit XAUUSDTlong	+0.0089%	4h	4,363.7	long leg	$82.9M	$143.5M	150x
Lighter RH XAU	+0.0096%	1h	4,364.6	+0.022%	$20.2M	$41.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,360.1	−0.082%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.6	−0.071%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,360.4	−0.074%	$277K	$204K	50x	as long as short
Extended XAU-USD	+0.0128%	1h	4,358.9	−0.109%	$13.5M	$44.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0129%	1h	4,363	−0.016%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0154%	4h	4,365.2	+0.036%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0192%	8h	4,364.6	+0.021%	$165.6M	$286.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0209%	1h	4,361.5	−0.050%	$235K	$656K	25x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,363.5	−0.004%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,360.6	−0.070%	$595K	$150K	25x	as long as short
Bluefin GOLD-PERP	+0.0284%	1h	4,357	−0.153%	$26K	$22K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,363.4	−0.007%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0541%	4h	4,367	+0.077%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0639%	4h	4,368.8	+0.118%	$2.9M	$3.9M	75x	as long as short