Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0111%/8h= −12.2% APRpaid last 24h −0.014%

Price spread now: Injective against Bybit+0.622%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Injective is 0.622% dearer against Bybit than usual: you sell high and buy low (spread +0.622% now, against zero (this spread has no 7-day history yet)): +$62 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,323.5	0.0145	pay 0.0072% / 4h	2h 54m	$81.6M	$170.1M	150x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	54m 31s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.622%Rate

Funding earned: −$23.38
Price spread: +0.622% → 0.000%: $62.17
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $27.77
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Injective: 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, 5 min ago	0.01 bp	5.5 bp −$6	5.8 bp −$58	12.9 bp −$1,291	47.8 bp −$23.9K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
SunX XAU-USDT	0.0000%	4h	4,328.8	+0.121%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.7	+0.165%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,325.1	+0.036%	$2.0M	$5.2M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	+0.622%	$619	$54	52x
QFEX GOLD-USD	+0.0038%	1h	4,321.5	−0.047%	$6.6M	$3.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.5	+0.115%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358.2	+0.802%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.7	−0.089%	$291.8M	$54.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,318.2	−0.123%	$15.1M	$57.4M	25x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,323.3	−0.006%	$4.6M	$13.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0058%	8h	4,321.6	−0.045%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,323.3	−0.005%	$74.3M	$273.2M	20x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,319.7	−0.089%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,318.3	−0.121%	$12.7M	$35.7M	25x	as long as short
Variational Omni XAU	+0.0094%	4h	4,326.7	+0.073%	$47.1M	$29.9M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,328.1	+0.105%	$43K	$72K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,323.9	+0.008%	$19.9M	$38.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.1	−0.103%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.6	+0.093%	$284K	$232K	50x	as long as short
Lighter XAU	+0.0104%	1h	4,321.5	−0.047%	$20.1M	$29.4M	25x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,324.7	+0.028%	$302.2M	$430.2M	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,323.5	−0.001%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,322.5	−0.025%	$352.0M	$348.5M	1000x	as long as short
Binance XAUUSDT	+0.0116%	4h	4,323	−0.012%	$435.2M	$2.36B	100x	as long as short
Kalshi KXGOLDPERP	+0.0121%	24h	4,326.4	+0.066%	$3.5M	$48.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0122%	1h	4,324.8	+0.029%	$4.3M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0123%	4h	4,325.6	+0.047%	$30.2M	$65.1M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0130%	4h	4,329.2	+0.131%	$1.4M	$3.0M	25x	as long as short
Bybit XAUUSDTlong	+0.0145%	4h	4,323.5	long leg	$81.6M	$170.1M	150x
Deribit GOLD_USDC-PERPETUAL	+0.0167%	1h	4,321.9	−0.038%	$134K	$783K	25x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,324.8	+0.029%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,323	−0.013%	$71.5M	$133.0M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,323.2	−0.008%	$170.7M	$356.0M	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,325	+0.034%	$16.2M	$5.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0412%	1h	4,321.6	−0.045%	$582K	$150K	25x	as long as short
Phemex XAUUSDT	+0.0427%	4h	4,327	+0.079%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0306%	1h	4,324.8	+0.029%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1110%	4h	4,330.9	+0.170%	$3.2M	$7.0M	75x	as long as short
Bluefin GOLD-PERP	+0.4360%	1h	4,318.3	−0.121%	$25K	$1K	20x	as long as short