Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h +0.215%

Price spread now: Bluefin against Bybit−0.173%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Bluefin

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—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bluefin is 0.173% cheaper against Bybit than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,371.4	0	get 0.0000% / 4h	16m 50s	$82.6M	$142.5M	150x
Short	Bluefin GOLD-PERP	4,363.8	−0.0222	pay 0.0028% / 1h	16m 50s	$26K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$46.66
Price spread: −0.173% → 0.000%: −$17.32
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$81.97
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Bluefin: 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 Bybit live order book, 2 min ago	0.01 bp	5.6 bp −$6	6.8 bp −$68	10.7 bp −$1,072	29.4 bp −$14.7K
Sell Bluefin no order-book sample	—	—	—	—	—

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
Bluefin GOLD-PERPshort	−0.0222%	1h	4,363.8	−0.173%	$26K	$22K	20x
Phoenix GOLD	−0.0004%	1h	4,370.3	−0.025%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.9	+0.012%	$71.7M	$225.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,370.8	−0.015%	$410.5M	$2.14B	100x	as long as short
Bybit XAUUSDTlong	0.0000%	4h	4,371.4	long leg	$82.6M	$142.5M	150x
RISEx XAU/USDC	0.0000%	1h	4,371.4	0.000%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.7	+0.006%	$267.5M	$417.3M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.7	−0.016%	$375.3M	$324.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,371.2	−0.006%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.6	−0.111%	$48.5M	$30.2M	—	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	4,373.1	+0.038%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,368.8	−0.060%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.1	+0.084%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,367.2	−0.097%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,362.7	−0.198%	$30.3M	$59.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,367.4	−0.092%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,369.3	−0.048%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.480%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,369.7	−0.039%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,369.2	−0.051%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.5	+0.780%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,372.2	+0.019%	$20.2M	$42.2M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.3	−0.094%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367.6	−0.086%	$14.6M	$56.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,371	−0.009%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,367.2	−0.097%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,371.1	−0.008%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.8	−0.083%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.8	−0.061%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0103%	1h	4,370.8	−0.014%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0108%	1h	4,371.3	−0.003%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	−0.030%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,371.7	+0.007%	$158.6M	$275.4M	100x	as long as short
HTX XAU-USDT	+0.0176%	4h	4,376	+0.106%	$2.8M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.3	−0.071%	$603K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,371	−0.008%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0277%	1h	4,369.8	−0.037%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0316%	4h	4,370.6	−0.018%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,370.9	−0.012%	$252K	—	111x	as long as short