Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h −0.028%

Price spread now: Aster against Deribit+0.049%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$190.189% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.688%−$69 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now +0.049%, 7d avg +0.122%

Together, before fees−0.651%+ Points / potential airdropAster: Stage 5 · farm board−$65 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.073% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.122%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,354.3	0.0049	pay 0.0006% / 1h	28m 17s	$221K	$760K	25x
Short	Aster XAUUSD1	4,356.5	0	get 0.0000% / 4h	1h 28m	$71.4M	$234.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$10.21
Price spread: +0.049% → +0.122%: −$7.28
Slippage, 4 orders: −$3.9
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$36.39
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Deribit: live order book, 56 min ago; Aster: live order book, 6 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 Deribit live order book, 56 min ago	0.12 bp	7.3 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	51.4 bp −$5,144	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353.5	−0.017%	$601K	$141K	25x	as long as short
Aster XAUUSD1short	0.0000%	4h	4,356.5	+0.049%	$71.4M	$234.4M	20x
Binance XAUUSDT	0.0000%	4h	4,355.8	+0.033%	$409.6M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.7	+0.056%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.9	+0.036%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.2	+0.067%	$271.1M	$409.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355.8	+0.033%	$376.9M	$351.7M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,355.9	+0.036%	$66.9M	$110.6M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,353.8	−0.011%	$48.0M	$31.7M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.1	+0.017%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,353.6	−0.016%	$4.0M	$34.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.131%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.6	−0.039%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,355.4	+0.025%	$5.6M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,349.4	−0.113%	$30.3M	$58.4M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0010%	1h	4,351.3	−0.069%	$292.8M	$53.0M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,355.1	+0.017%	$21.0M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,357	+0.062%	$20.2M	$41.9M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.7	−0.038%	$13.0M	$49.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.089%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.041%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.2	+0.824%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0049%	1h	4,354.3	long leg	$221K	$760K	25x
Polymarket Perps GOLD-USD	+0.0050%	1h	4,356	+0.039%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.9	−0.056%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.4	+0.026%	$19K	$6K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,355.1	+0.018%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0084%	4h	4,358.7	+0.102%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0095%	1h	4,355.9	+0.036%	$59K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.9	−0.032%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.8	−0.057%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.4	−0.136%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.8	−0.057%	$48K	$65K	25x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,351.7	−0.060%	$33K	—	25x	as long as short
OKX XAU-USDT-SWAP	+0.0155%	8h	4,356.9	+0.060%	$158.8M	$267.3M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	−0.032%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,356	+0.038%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0311%	4h	4,358.9	+0.105%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.9	+0.036%	$251K	—	29x	as long as short