Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.019%

Price spread now: HTX against Deribit+0.181%7-day average +0.164% · 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−$270.274% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.711%−$71 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.181%, 7d avg +0.164%

Together, before fees−0.741%−$74 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.164%, so right now this pair is about funding alone: −$2 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	4,369.1	0.0254	pay 0.0032% / 1h	15m 49s	$235K	$736K	25x
Short	HTX XAU-USDT	4,377	0.0181	get 0.0090% / 4h	15m 49s	$2.8M	$3.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$15.38
Price spread: +0.181% → +0.164%: $1.73
Slippage, 4 orders: −$8.39
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$41.05
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Deribit: live order book, 63 min ago; HTX: 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, 63 min ago	0.12 bp	8.6 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	0.01 bp	6.4 bp −$6	10.4 bp −$104	16.4 bp −$1,636	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	−0.0227%	1h	4,363	−0.141%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	+0.027%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.1	+0.046%	$71.9M	$224.9M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,370.5	+0.032%	$410.5M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,371	+0.044%	$82.7M	$142.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371.1	+0.046%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.5	+0.055%	$267.4M	$417.6M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.7	+0.036%	$375.4M	$324.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.8	+0.040%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,370.5	+0.032%	$48.5M	$29.3M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,373.1	+0.091%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,368	−0.025%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.3	+0.142%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,366.6	−0.057%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,362.7	−0.145%	$30.3M	$59.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,367.3	−0.041%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,370.7	+0.037%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.428%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,369.7	+0.014%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,371.5	+0.055%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.1	+0.824%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,372.2	+0.071%	$20.2M	$42.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367	−0.048%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367.5	−0.036%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,370.8	+0.040%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,366.9	−0.050%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.1	+0.023%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.5	−0.036%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.8	−0.008%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0104%	1h	4,370	+0.021%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0109%	1h	4,370.7	+0.036%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	+0.023%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,371.3	+0.050%	$158.6M	$274.3M	100x	as long as short
HTX XAU-USDTshort	+0.0181%	4h	4,377	+0.181%	$2.8M	$3.8M	75x
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,367.7	−0.031%	$602K	$137K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,371	+0.044%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0254%	1h	4,369.1	long leg	$235K	$736K	25x
Phemex XAUUSDT	+0.0317%	4h	4,370.3	+0.027%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,370.5	+0.033%	$252K	—	111x	as long as short