Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.022%

Price spread now: edgeX against Deribit−0.075%7-day average −0.049% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.669%−$67 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.075%, 7d avg −0.049%

Together, before fees−0.688%+ Points / potential airdropedgeX: Active · farm board−$69 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 edgeX is 0.027% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.049%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,355.2	0.0140	pay 0.0018% / 1h	41m 13s	$234K	$661K	25x
Short	edgeX XAUUSDC	4,351.9	0.0098	get 0.0049% / 4h	2h 41m	$30.3M	$60.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$9
Price spread: −0.075% → −0.049%: −$2.65
Slippage, 4 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$32.65
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Deribit: live order book, 28 min ago; edgeX: 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, 28 min ago	0.12 bp	7.9 bp −$8	9.1 bp −$91	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	0.23 bp	4.7 bp −$5	4.9 bp −$49	8.4 bp −$844	37.3 bp −$18.6K

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	−0.0318%	1h	4,348.4	−0.157%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0104%	1h	4,352	−0.073%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.8	+0.036%	$69.7M	$281.3M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.1	+0.088%	$263.2M	$406.8M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,353.1	−0.048%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,361.1	+0.136%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.5	−0.063%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.3	−0.066%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.110%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.2	+0.069%	$3.8M	$4.7M	40x	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	4,389.1	+0.778%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,356.3	+0.026%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,358.9	+0.084%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.5	−0.016%	$293.8M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.8	−0.055%	$15.0M	$57.5M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,354.6	−0.014%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,354.8	−0.009%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	+0.012%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.6	−0.106%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,357.1	+0.044%	$372.5M	$321.3M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,357.2	+0.045%	$410.4M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,355	−0.004%	$19K	$5K	5x	as long as short
edgeX XAUUSDCshort	+0.0098%	4h	4,351.9	−0.075%	$30.3M	$60.4M	50x
Pacifica XAU	+0.0100%	1h	4,351.7	−0.080%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.043%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,355.8	+0.015%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.011%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,355.2	0.000%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,358.7	+0.080%	$1.4M	$3.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0140%	1h	4,355.2	long leg	$234K	$661K	25x
Bitget XAUUSDT	+0.0144%	4h	4,357.8	+0.059%	$69.3M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,355.5	+0.008%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,358.4	+0.072%	$84.1M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0224%	8h	4,359.3	+0.094%	$164.9M	$284.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,353.1	−0.047%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.220%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.5	+0.008%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0411%	4h	4,360.9	+0.130%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,361	+0.133%	$2.9M	$3.9M	75x	as long as short