Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against Bybit−0.163%109s7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.458% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.163%, 7d avg −0.061%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.102% cheaper against Bybit than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of −0.061%). If the spread goes back, that is −$10 on $10k: about 10 days of funding at the current rate (+$1 a day). The two prices were read 109 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	Bybit XAUUSDT	4,318.4	0.0067	pay 0.0034% / 4h	11m 49s	$77.9M	$153.6M	150x
Short	ApeX Omni XAUUSDT	4,311.4	0.0100	get 0.0013% / 1h	11m 49s	$271K	$209K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.163%Rate

Funding earned: $6.86
Price spread: −0.163% → −0.061%: −$10.17
Slippage, 4 orders: −$24.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$49.13
Costs to cover: 0.458%
Break-even: 57.1 days

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 25 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	5.9 bp −$6	6.7 bp −$67	9.4 bp −$936	32.0 bp −$16.0K
Sell ApeX Omni live order book, 25 min ago	5.20 bp	16.4 bp −$16	29.3 bp −$293	40.5 bp −$4,051	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
SunX XAU-USDT	0.0000%	4h	4,323.7	+0.122%	$92K	$7.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,315.8	−0.060%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.741%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,318.3	−0.003%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,351.2	+0.759%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,314.5	−0.091%	$290.9M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,315.5	−0.068%	$15.0M	$55.5M	25x	as long as short
Bluefin GOLD-PERP	+0.0056%	1h	4,312.3	−0.143%	$25K	$1K	20x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,319	+0.014%	$73.0M	$271.7M	20x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,318.8	+0.008%	$2K	$14K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDTlong	+0.0067%	4h	4,318.4	long leg	$77.9M	$153.6M	150x
Lighter XAU	+0.0072%	1h	4,316.9	−0.036%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,315.3	−0.072%	$2.0M	$5.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,316.3	−0.049%	$32K	—	25x	as long as short
StandX XAU-USD	+0.0093%	1h	4,320	+0.036%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0096%	1h	4,314.7	−0.086%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0098%	24h	4,320.8	+0.055%	$3.7M	$44.9M	15x	as long as short
Variational Omni XAU	+0.0098%	4h	4,314	−0.103%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,315.9	−0.058%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,311.4	−0.163%	$271K	$209K	50x
Lighter RH XAU	+0.0104%	1h	4,319.4	+0.023%	$19.9M	$40.0M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,318.4	0.000%	$363.6M	$335.8M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,317.7	−0.017%	$429.6M	$2.14B	100x	as long as short
Extended XAU-USD	+0.0112%	1h	4,314.7	−0.086%	$13.2M	$36.7M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,315.1	−0.078%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,318.7	+0.007%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,309.9	−0.197%	$30.0M	$60.5M	50x	as long as short
Gate XAU_USDT	+0.0114%	4h	4,320.3	+0.044%	$287.0M	$427.3M	100x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,318.1	−0.008%	$70.5M	$120.1M	100x	as long as short
Bullet GOLD-USD	+0.0203%	1h	4,319.6	+0.028%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0223%	1h	4,320.2	+0.041%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,317.1	−0.032%	$574K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0237%	1h	4,317.7	−0.017%	$161K	$878K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0267%	8h	4,318	−0.010%	$175.2M	$302.6M	100x	as long as short
BloFin XAU-USDT	+0.0351%	4h	4,319.1	+0.016%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0402%	4h	4,320.3	+0.042%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0311%	1h	4,319.6	+0.028%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0523%	4h	4,325.4	+0.161%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,319.4	+0.022%	$4.5M	$13.3M	25x	as long as short