Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.014%

Price spread now: Polymarket Perps against Bybit0.000%47s7-day average −0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$200.198% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.088%−$9 · spread now 0.000%, 7d avg −0.097%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Polymarket Perps is 0.098% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.097%. The two prices were read 47 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	4,317.4	0.0062	pay 0.0031% / 4h	18m 47s	$77.7M	$154.5M	150x
Short	Polymarket Perps GOLD-USD	4,317.4	0.0219	get 0.0027% / 1h	18m 47s	$4.3M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now 0.000%Rate

Funding earned: $32.87
Price spread: 0.000% → −0.097%: $9.77
Slippage, 4 orders: −$0.83
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $22.81
Costs to cover: 0.198%
Break-even: 2.1 days

Slippage from Bybit: live order book, 5 min ago; Polymarket Perps: 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	5.9 bp −$59	10.2 bp −$1,022	35.1 bp −$17.6K
Sell Polymarket Perps live order book, 5 min ago	0.12 bp	4.3 bp −$4	4.5 bp −$45	5.7 bp −$571	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	4,321.5	+0.095%	$92K	$7.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,313.1	−0.099%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.765%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,319.3	+0.044%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,315.5	−0.044%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,349	+0.732%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,314	−0.078%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,313	−0.101%	$290.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,312.6	−0.111%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,317.7	+0.008%	$72.9M	$272.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDTlong	+0.0062%	4h	4,317.4	long leg	$77.7M	$154.5M	150x
Paradex XAU-USD-PERP	+0.0063%	8h	4,316.1	−0.029%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0066%	1h	4,310.3	−0.164%	$25K	$1K	20x	as long as short
Lighter XAU	+0.0072%	1h	4,315.5	−0.044%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,313.1	−0.099%	$2.0M	$5.0M	25x	as long as short
Variational Omni XAU	+0.0095%	4h	4,317.1	−0.006%	$47.1M	$29.1M	—	as long as short
Kalshi KXGOLDPERP	+0.0096%	24h	4,318.4	+0.024%	$3.6M	$45.0M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,315.6	−0.041%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,312.7	−0.108%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.5	−0.043%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,317.6	+0.006%	$20.0M	$39.7M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,316.4	−0.023%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0106%	4h	4,316.8	−0.014%	$363.5M	$334.6M	1000x	as long as short
Binance XAUUSDT	+0.0107%	4h	4,316.6	−0.019%	$428.1M	$2.16B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0110%	4h	4,317.2	−0.005%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,317.9	+0.013%	$283.3M	$423.5M	100x	as long as short
Extended XAU-USD	+0.0120%	1h	4,312.5	−0.113%	$13.2M	$36.8M	25x	as long as short
edgeX XAUUSDC	+0.0124%	4h	4,311.9	−0.127%	$30.0M	$60.1M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,316.1	−0.030%	$70.2M	$120.8M	100x	as long as short
Bullet GOLD-USD	+0.0204%	1h	4,317.4	−0.001%	$59K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0214%	1h	4,315.5	−0.044%	$162K	$877K	25x	as long as short
Polymarket Perps GOLD-USDshort	+0.0219%	1h	4,317.4	0.000%	$4.3M	$1.8M	20x
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,314.4	−0.069%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0270%	8h	4,316.9	−0.011%	$174.7M	$303.4M	100x	as long as short
BloFin XAU-USDT	+0.0346%	4h	4,317.5	+0.002%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0413%	4h	4,320.3	+0.067%	$2.2M	$977K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0311%	1h	4,317.4	0.000%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0498%	4h	4,323.7	+0.147%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,317	−0.009%	$4.5M	$13.3M	25x	as long as short