Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.062%

Price spread now: Gate against Deribit+0.048%7-day average +0.138% · 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−$36as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.758%−$76 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.048%, 7d avg +0.138%

Together, before fees−0.680%−$68 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.090% cheaper against Deribit than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.138%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,325.5	0.0305	pay 0.0038% / 1h	13m 48s	$195K	$832K	25x
Short	Gate XAU_USDT	4,327.6	0.0074	get 0.0037% / 4h	2h 13m	$272.3M	$415.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.048%Rate

Funding earned: −$48.54
Price spread: +0.048% → +0.138%: −$8.98
Slippage, 4 orders: −$4.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$84.33
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Deribit: live order book, 35 min ago; Gate: live order book, 5 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, 35 min ago	0.12 bp	8.2 bp −$8	9.4 bp −$94	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	8.8 bp −$88	15.1 bp −$1,512	22.7 bp −$11.4K

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	−0.0031%	1h	4,320.2	−0.123%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,328.9	+0.080%	$92K	$8.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,323.4	−0.048%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0009%	4h	4,326.5	+0.023%	$77.9M	$156.5M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,322.4	−0.072%	$13.1M	$37.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.576%	$619	$54	52x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,322.3	−0.074%	$32K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.2	+0.062%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,323.7	−0.042%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358	+0.751%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,324.1	−0.032%	$20.5M	$31.6M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,322.2	−0.076%	$291.5M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.1	−0.101%	$15.0M	$56.8M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,325.4	−0.002%	$3.9M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0062%	24h	4,326.2	+0.016%	$4.0M	$42.0M	15x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,324.4	−0.025%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,321.3	−0.097%	$2.0M	$4.8M	25x	as long as short
Gate XAU_USDTshort	+0.0074%	4h	4,327.6	+0.048%	$272.3M	$415.2M	100x
Lighter RH XAU	+0.0080%	1h	4,327.4	+0.044%	$19.8M	$38.9M	25x	as long as short
Aster XAUUSD1	+0.0100%	4h	4,326.7	+0.028%	$72.1M	$331.6M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,320.9	−0.107%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,325.2	−0.008%	$272K	$208K	50x	as long as short
Variational Omni XAU	+0.0104%	4h	4,327.8	+0.053%	$46.9M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0104%	4h	4,326.7	+0.028%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,326.4	+0.020%	$362.8M	$328.9M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,325.8	+0.007%	$413.7M	$2.18B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,325.7	+0.005%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0125%	4h	4,324.7	−0.020%	$30.1M	$60.4M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,325.4	−0.002%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,326.3	+0.020%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0173%	1h	4,324.6	−0.021%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0235%	4h	4,330.2	+0.108%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0248%	1h	4,322.7	−0.066%	$589K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0260%	4h	4,325.5	−0.001%	$67.9M	$119.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0305%	1h	4,325.5	long leg	$195K	$832K	25x
OKX XAU-USDT-SWAP	+0.0334%	8h	4,326.6	+0.025%	$170.4M	$298.8M	100x	as long as short
BloFin XAU-USDT	+0.0365%	4h	4,325.9	+0.008%	$16.1M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0454% / S −0.0295%	1h	4,327	+0.035%	$250K	—	111x	as long as short
Phemex XAUUSDT	+0.0472%	4h	4,327.7	+0.051%	$2.2M	$962K	100x	as long as short