Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.016%

Price spread now: Binance against Coinbase International+0.047%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$220.215% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.368%−$37 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.047%, 7d avg +0.100%

Together, before fees−0.297%−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.053% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.047% now, against its 7-day average of +0.100%). If the spread goes back, that is −$5 on $10k: about 4.0 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.368%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,348.3	0.0048	pay 0.0006% / 1h	22m 18s	$2.0M	$4.8M	25x
Short	Binance XAUUSDT	4,350.3	0.0092	get 0.0046% / 4h	22m 18s	$413.5M	$2.09B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.047%Rate

Funding earned: $9.17
Price spread: +0.047% → +0.100%: −$5.29
Slippage, 4 orders: −$1.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.64
Costs to cover: 0.215%
Break-even: 20.5 days

Slippage from Coinbase International: live order book, 2 min ago; Binance: live order book, 7 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 Coinbase International live order book, 2 min ago	0.69 bp	5.7 bp −$6	7.7 bp −$77	43.4 bp −$4,343	doesn't fit
Sell Binance live order book, 7 min ago	0.01 bp	5.0 bp −$5	5.1 bp −$51	7.1 bp −$713	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
RISEx XAU/USDC	0.0000%	1h	4,350.4	+0.048%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,351.3	+0.068%	$265.4M	$415.0M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.6	+0.146%	$93K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.5	−0.043%	$271K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,349.1	+0.019%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.4	−0.043%	$13.2M	$38.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.049%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,351.4	+0.071%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.7	+0.055%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,349.9	+0.037%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,383.4	+0.807%	—	$1.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0047%	24h	4,349	+0.016%	$4.2M	$37.3M	15x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0048%	1h	4,348.3	long leg	$2.0M	$4.8M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347	−0.030%	$293.8M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,346.6	−0.040%	$15.1M	$56.9M	25x	as long as short
Aster XAUUSD1	+0.0064%	4h	4,351.2	+0.066%	$71.1M	$333.6M	20x	as long as short
Variational Omni XAU	+0.0078%	4h	4,351	+0.062%	$48.4M	$27.9M	—	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,350.6	+0.052%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,351.4	+0.072%	$1.4M	$2.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,347.7	−0.014%	$33K	—	25x	as long as short
Binance XAUUSDTshort	+0.0092%	4h	4,350.3	+0.047%	$413.5M	$2.09B	100x
MEXC XAU_USDT	+0.0092%	4h	4,350.1	+0.041%	$372.8M	$318.3M	1000x	as long as short
Pacifica XAU	+0.0100%	1h	4,347.4	−0.021%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,349.5	+0.028%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,344.4	−0.090%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0100%	4h	4,347.1	−0.028%	$30.3M	$58.1M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,349.8	+0.035%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,348.4	+0.002%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0158%	1h	4,350.3	+0.046%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0190%	1h	4,350.1	+0.041%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,347.3	−0.022%	$593K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0208%	4h	4,353.2	+0.112%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,349	+0.016%	$206K	$822K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,350.3	+0.046%	$69.9M	$109.4M	100x	as long as short
Bybit XAUUSDT	+0.0244%	4h	4,351.5	+0.074%	$85.3M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0293%	8h	4,351.6	+0.076%	$165.6M	$281.9M	100x	as long as short
BloFin XAU-USDT	+0.0333%	4h	4,350.9	+0.060%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0416% / S −0.0235%	1h	4,350.3	+0.047%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0624%	4h	4,356.2	+0.181%	$2.9M	$4.3M	75x	as long as short