Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.001%

Price spread now: GRVT against Coinbase International+0.053%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.373%−$37 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.053%, 7d avg +0.104%

Together, before fees−0.370%+ Points / potential airdropGRVT: Active · farm board−$37 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 0.051% cheaper against Coinbase International than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,324.2	0.0072	pay 0.0009% / 1h	55m 21s	$2.1M	$4.8M	25x
Short	GRVT XAU_USDT_Perp	4,326.5	0.0074	get 0.0037% / 4h	1h 55m	$1.4M	$3.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.053%Rate

Funding earned: $0.42
Price spread: +0.053% → +0.104%: −$5.09
Slippage, 4 orders: −$2.26
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$25.94
Costs to cover: 0.213%
Break-even: 439.3 days

Slippage from Coinbase International: live order book, 4 min ago; GRVT: live order book, 3 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	0.12 bp	6.7 bp −$7	8.1 bp −$81	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	0.01 bp	4.8 bp −$5	4.9 bp −$49	doesn't fit	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	−0.0056%	1h	4,319.9	−0.099%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,329.7	+0.128%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,322.4	−0.041%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0008%	4h	4,325	+0.019%	$77.8M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,321.7	−0.057%	$13.1M	$36.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.606%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.3	+0.095%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,325.3	+0.025%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,357.8	+0.777%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,323.4	−0.019%	$32K	—	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,321.5	−0.062%	$291.5M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,322	−0.051%	$15.0M	$56.1M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,324.8	+0.013%	$20.4M	$30.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0067%	24h	4,326.9	+0.062%	$3.9M	$42.7M	15x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,325.6	+0.032%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0072%	1h	4,324.2	long leg	$2.1M	$4.8M	25x
GRVT XAU_USDT_Perpshort	+0.0074%	4h	4,326.5	+0.053%	$1.4M	$3.0M	25x
Gate XAU_USDT	+0.0076%	4h	4,326.3	+0.049%	$273.7M	$404.8M	100x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,325.9	+0.040%	$72.3M	$318.6M	20x	as long as short
Variational Omni XAU	+0.0089%	4h	4,326.3	+0.049%	$47.1M	$29.2M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,327.3	+0.072%	$19.8M	$38.2M	25x	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,325.5	+0.031%	$363.7M	$324.1M	1000x	as long as short
Binance XAUUSDT	+0.0097%	4h	4,324.4	+0.005%	$413.6M	$2.13B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,321.8	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.3	−0.043%	$272K	$208K	50x	as long as short
edgeX XAUUSDC	+0.0102%	4h	4,324.1	−0.002%	$30.1M	$60.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.8	+0.038%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,324.8	+0.014%	$47K	$79K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,323.5	−0.017%	$589K	$130K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,326.7	+0.057%	$3.8M	$12.5M	25x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,327.1	+0.067%	$59K	$82K	10x	as long as short
HTX XAU-USDT	+0.0205%	4h	4,329.4	+0.120%	$2.8M	$4.9M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0211%	1h	4,325.3	+0.025%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,325.4	+0.028%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0305%	1h	4,324.9	+0.016%	$193K	$829K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0318%	8h	4,325.1	+0.021%	$170.2M	$297.1M	100x	as long as short
BloFin XAU-USDT	+0.0336%	4h	4,325	+0.019%	$16.0M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0393%	4h	4,328.4	+0.098%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,324.4	+0.005%	$253K	—	111x	as long as short