Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.041%

Price spread now: Binance against Deribit+0.091%7-day average +0.105% · 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−$21as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.701%−$70 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.091%, 7d avg +0.105%

Together, before fees−0.675%−$67 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: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,313.3	0.0191	pay 0.0024% / 1h	48m 40s	$135K	$659K	25x
Short	Binance XAUUSDT	4,317.2	0.0084	get 0.0042% / 4h	48m 40s	$441.7M	$2.44B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.091%Rate

Funding earned: −$22.48
Price spread: +0.091% → +0.105%: −$1.36
Slippage, 4 orders: −$2.77
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$43.62
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Deribit: live order book, 58 min ago; Binance: 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 Deribit live order book, 58 min ago	0.12 bp	4.3 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.6 bp −$662	doesn't fit

XAU on 39 exchanges

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
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,310.2	−0.072%	$2.1M	$5.1M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,319.1	+0.135%	$92K	$5.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0002%	1h	4,309.7	−0.084%	$306K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,319.6	+0.146%	$35K	$3K	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.861%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,322.1	+0.204%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,312.7	−0.014%	$6.6M	$3.3M	20x	as long as short
Aster XAUUSD1	+0.0044%	4h	4,319.3	+0.140%	$71.3M	$277.3M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,349.6	+0.842%	—	$1.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,312.7	−0.015%	$15.2M	$59.1M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0057%	8h	4,316.7	+0.080%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,316.1	+0.065%	$4.7M	$13.4M	25x	as long as short
Lighter XAU	+0.0064%	1h	4,316.8	+0.080%	$20.0M	$30.3M	25x	as long as short
Variational Omni XAU	+0.0070%	4h	4,319.1	+0.134%	$47.0M	$28.1M	—	as long as short
tradeXYZ xyz:GOLD	+0.0072%	1h	4,314.5	+0.028%	$291.5M	$46.0M	25x	as long as short
Gate XAU_USDT	+0.0076%	4h	4,318.6	+0.122%	$303.1M	$435.0M	100x	as long as short
Binance XAUUSDTshort	+0.0084%	4h	4,317.2	+0.091%	$441.7M	$2.44B	100x
MEXC XAU_USDT	+0.0084%	4h	4,317.5	+0.096%	$350.2M	$352.9M	1000x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,319.5	+0.144%	$30.2M	$66.6M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0098%	4h	4,320	+0.156%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,315.1	+0.042%	$1.4M	$1.5M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,317.3	+0.093%	$286K	$227K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,309.1	−0.098%	$25K	$1K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,312.7	−0.013%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0124%	1h	4,315.8	+0.058%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0146%	24h	4,316.2	+0.067%	$3.5M	$52.0M	15x	as long as short
Lighter RH XAU	+0.0152%	1h	4,319.1	+0.134%	$19.5M	$39.4M	25x	as long as short
Bybit XAUUSDT	+0.0162%	4h	4,319	+0.132%	$82.7M	$168.0M	150x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0191%	1h	4,313.3	long leg	$135K	$659K	25x
Kraken Futures PF_XAUUSD	+0.0198%	1h	4,311.6	−0.040%	$581K	$166K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,316	+0.062%	$73.0M	$141.8M	100x	as long as short
Extended XAU-USD	+0.0224%	1h	4,311.4	−0.043%	$12.5M	$34.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0225%	8h	4,317.9	+0.107%	$170.9M	$364.5M	100x	as long as short
Bullet GOLD-USD	+0.0225%	1h	4,315.6	+0.052%	$59K	$77K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0234%	1h	4,316.3	+0.070%	$4.3M	$1.7M	20x	as long as short
Phemex XAUUSDT	+0.0242%	4h	4,317.9	+0.106%	$2.2M	$733K	100x	as long as short
BloFin XAU-USDT	+0.0326%	4h	4,316.3	+0.070%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0424% / S −0.0257%	1h	4,314.2	+0.021%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.1028%	4h	4,322.5	+0.214%	$3.2M	$7.1M	75x	as long as short