Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.032%

Price spread now: GRVT against Bybit−0.084%80s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as 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−$200.204% of the position

Long on Bybit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.114%+$11 · spread now −0.084%, 7d avg −0.012%

Together, before fees+0.116%+ Points / potential airdropGRVT: Active · farm board+$12 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: GRVT is 0.072% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.012%. The two prices were read 80 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	4,366.6	0	get 0.0000% / 4h	24m 09s	$82.9M	$142.2M	150x
Short	GRVT XAU_USDT_Perp	4,362.9	0	get 0.0000% / 4h	24m 09s	$1.4M	$3.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.012%: −$7.2
Slippage, 4 orders: −$0.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$27.63
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; GRVT: live order book, 5 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, 5 min ago	0.01 bp	5.5 bp −$6	6.7 bp −$67	8.2 bp −$820	26.3 bp −$13.1K
Sell GRVT live order book, 5 min ago	0.01 bp	4.6 bp −$5	4.7 bp −$47	6.4 bp −$636	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	−0.0203%	1h	4,357	−0.219%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,360.3	−0.143%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,364.1	−0.057%	$71.6M	$225.7M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.5	−0.024%	$407.0M	$2.13B	100x	as long as short
Bybit XAUUSDTlong	0.0000%	4h	4,366.6	long leg	$82.9M	$142.2M	150x
RISEx XAU/USDC	0.0000%	1h	4,363.6	−0.067%	$3.4M	$12.3M	25x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,359.8	−0.155%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.8	+0.006%	$269.3M	$412.6M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.8	−0.018%	$376.2M	$322.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,366.2	−0.009%	$69.6M	$113.2M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,362.9	−0.085%	$48.4M	$30.2M	—	as long as short
GRVT XAU_USDT_Perpshort	0.0000%	4h	4,362.9	−0.084%	$1.4M	$3.1M	25x
Kalshi KXGOLDPERP	0.0000%	24h	4,361.3	−0.120%	$4.1M	$36.0M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,368.3	+0.040%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,359.6	−0.161%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0017%	4h	4,358.4	−0.188%	$30.3M	$58.5M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,363.1	−0.079%	$5.4M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,359.4	−0.165%	$13.1M	$45.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.370%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,364.3	−0.052%	$20.7M	$44.7M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.8	−0.063%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,397.9	+0.718%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,367.4	+0.018%	$20.3M	$42.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,361.8	−0.109%	$293.7M	$52.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,359.9	−0.152%	$14.5M	$56.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0052%	8h	4,363.6	−0.068%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,362.5	−0.094%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0093%	1h	4,363.2	−0.077%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0093%	1h	4,364	−0.059%	$59K	$81K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.7	−0.134%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.7	−0.111%	$277K	$204K	50x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,361	−0.127%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0158%	8h	4,366.4	−0.004%	$158.8M	$273.4M	100x	as long as short
HTX XAU-USDT	+0.0163%	4h	4,368.5	+0.045%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,361.1	−0.125%	$235K	$736K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,361.4	−0.118%	$602K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,364.2	−0.053%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0332%	4h	4,367	+0.011%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,363.6	−0.068%	$252K	—	111x	as long as short