Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.046%

Price spread now: gTrade (Gains Network) against Bybit−0.024%52s7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$2782.782% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now −0.024%, 7d avg −0.107%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.082% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.107%. The two prices were read 52 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	4,371.2	0	get 0.0000% / 4h	17m 27s	$82.6M	$142.5M	150x
Short	gTrade (Gains Network) XAU/USD	4,370.1	L +0.0002% / S −0.0003%	get 0.0000% / 1h	17m 27s	$268K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.024%Rate

Funding earned: $0.65
Price spread: −0.024% → −0.107%: $8.25
Slippage, 4 orders: −$260.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$269.26
Costs to cover: 2.782%
Break-even: 2898.5 days

Slippage from Bybit: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 27 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	5.6 bp −$6	6.8 bp −$68	10.7 bp −$1,072	29.4 bp −$14.7K
Sell gTrade (Gains Network) virtual book (oracle venue), 27 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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
Bluefin GOLD-PERP	−0.0223%	1h	4,366	−0.119%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.7	−0.172%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,372.7	+0.033%	$71.7M	$225.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,371.1	−0.004%	$410.6M	$2.14B	100x	as long as short
Bybit XAUUSDTlong	0.0000%	4h	4,371.2	long leg	$82.6M	$142.5M	150x
RISEx XAU/USDC	0.0000%	1h	4,371.4	+0.005%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.7	+0.012%	$267.5M	$417.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,371.3	+0.001%	$375.5M	$324.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.7	−0.012%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.6	−0.106%	$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	+0.043%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,370.5	−0.016%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,378	+0.156%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,370.1	−0.024%	$268K	—	250x
edgeX XAUUSDC	+0.0008%	4h	4,362.7	−0.194%	$30.3M	$59.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,367.4	−0.087%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,369.3	−0.044%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.476%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,370.2	−0.023%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,369.2	−0.046%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.5	+0.784%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,372.9	+0.038%	$20.2M	$42.2M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.5	−0.085%	$294.0M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367.6	−0.082%	$14.6M	$56.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,371	−0.004%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,367.5	−0.084%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,373.1	+0.043%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.8	−0.078%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.8	−0.056%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0103%	1h	4,370.8	−0.009%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0106%	1h	4,373.6	+0.054%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	−0.025%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,372.1	+0.020%	$158.6M	$275.4M	100x	as long as short
HTX XAU-USDT	+0.0174%	4h	4,378.5	+0.166%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0208%	1h	4,372.1	+0.020%	$236K	$736K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,371.2	−0.001%	$603K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,369.5	−0.039%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0308%	4h	4,372.3	+0.026%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,373.6	+0.055%	$252K	—	111x	as long as short