Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.082%

Price spread now: BloFin against Coinbase International+0.121%7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.121%, 7d avg +0.105%

Together, before fees−0.039%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.105%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,309.1	0.0072	pay 0.0009% / 1h	15m 04s	$2.0M	$5.0M	25x
Short	BloFin XAU-USDT	4,314.3	0.0349	get 0.0174% / 4h	15m 04s	$16.6M	$4.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.121%Rate

Funding earned: $58.09
Price spread: +0.121% → +0.105%: $1.61
Slippage, 4 orders: −$2.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $35.09
Costs to cover: 0.246%
Break-even: 2.8 days

Slippage from Coinbase International: live order book, 4 min ago; BloFin: live order book, 4 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, 4 min ago	0.23 bp	7.2 bp −$7	8.2 bp −$82	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	0.04 bp	6.0 bp −$6	6.0 bp −$60	8.1 bp −$806	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
Hotstuff GOLD-PERP	−0.0136%	1h	4,310.3	+0.028%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,318.1	+0.210%	$92K	$7.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,309.9	+0.019%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.959%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,313.1	+0.093%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,345.8	+0.852%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,311.7	+0.060%	$290.7M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,309.9	+0.018%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,316.4	+0.170%	$72.9M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,313.1	+0.092%	$2K	$14K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0064%	4h	4,316	+0.160%	$77.7M	$153.5M	150x	as long as short
Bluefin GOLD-PERP	+0.0070%	1h	4,309.1	−0.001%	$25K	$1K	20x	as long as short
Lighter XAU	+0.0072%	1h	4,313	+0.091%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0072%	1h	4,309.1	long leg	$2.0M	$5.0M	25x
StandX XAU-USD	+0.0073%	1h	4,317.2	+0.188%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0096%	1h	4,314.7	+0.130%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0097%	24h	4,314.8	+0.132%	$3.7M	$44.8M	15x	as long as short
Variational Omni XAU	+0.0098%	4h	4,314	+0.113%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,310.7	+0.037%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.1	+0.140%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,315.6	+0.150%	$20.0M	$39.9M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,313.9	+0.111%	$363.4M	$335.1M	1000x	as long as short
Binance XAUUSDT	+0.0109%	4h	4,315.1	+0.139%	$428.0M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0110%	4h	4,316.3	+0.167%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,316.4	+0.170%	$287.1M	$425.0M	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,313.2	+0.094%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,311.1	+0.046%	$30.0M	$60.4M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,309.8	+0.015%	$13.2M	$36.7M	25x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,315.4	+0.145%	$70.4M	$120.1M	100x	as long as short
Bullet GOLD-USD	+0.0205%	1h	4,314.1	+0.115%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0220%	1h	4,314.3	+0.121%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,311.6	+0.058%	$574K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0260%	1h	4,313	+0.091%	$161K	$878K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0269%	8h	4,315.7	+0.153%	$174.8M	$302.0M	100x	as long as short
BloFin XAU-USDTshort	+0.0349%	4h	4,314.3	+0.121%	$16.6M	$4.9M	100x
Phemex XAUUSDT	+0.0425%	4h	4,318.3	+0.214%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0311%	1h	4,314.2	+0.117%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0516%	4h	4,321.8	+0.294%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,313.5	+0.102%	$4.5M	$13.4M	25x	as long as short