Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.048%

Price spread now: Variational Omni against Deribit+0.011%7-day average +0.098% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.722%−$72 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.011%, 7d avg +0.098%

Together, before fees−0.761%+ Points / potential airdropVariational Omni: Active · farm board−$76 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.087% cheaper against Deribit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,331.5	0.0096	pay 0.0012% / 1h	0m 39s	$134K	$780K	25x
Short	Variational Omni XAU	4,332	0.0093	get 0.0047% / 4h	3h 00m	$47.2M	$30.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.011%Rate

Funding earned: −$0.66
Price spread: +0.011% → +0.098%: −$8.69
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.36
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 33 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 33 min ago	1.86 bp	5.4 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	1.54 bp	doesn't fit	1.5 bp −$15	3.6 bp −$364	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
SunX XAU-USDT	0.0000%	4h	4,336.6	+0.118%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,333.5	+0.046%	$275K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.437%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.7	+0.143%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,367.6	+0.833%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,331.8	+0.007%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,328.8	−0.062%	$292.4M	$55.4M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,333.1	+0.037%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.7	−0.043%	$15.1M	$57.3M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,328.8	−0.062%	$2.0M	$5.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0058%	8h	4,332	+0.011%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,335.7	+0.097%	$74.4M	$272.9M	20x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,329.4	−0.048%	$32K	—	25x	as long as short
Lighter XAU	+0.0080%	1h	4,332.2	+0.017%	$20.2M	$30.7M	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,329	−0.057%	$12.7M	$35.9M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,334.8	+0.077%	$19.9M	$41.4M	25x	as long as short
Variational Omni XAUshort	+0.0093%	4h	4,332	+0.011%	$47.2M	$30.1M	—
Phoenix GOLD	+0.0095%	1h	4,333.5	+0.046%	$43K	$86K	25x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0096%	1h	4,331.5	long leg	$134K	$780K	25x
Pacifica XAU	+0.0100%	1h	4,328.9	−0.061%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,334.7	+0.073%	$285K	$232K	50x	as long as short
Gate XAU_USDT	+0.0102%	4h	4,334.6	+0.072%	$299.1M	$447.5M	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.5	+0.023%	$160K	$87	10x	as long as short
Binance XAUUSDT	+0.0116%	4h	4,333.8	+0.054%	$437.9M	$2.35B	100x	as long as short
MEXC XAU_USDT	+0.0116%	4h	4,332.9	+0.032%	$353.8M	$359.8M	1000x	as long as short
Kalshi KXGOLDPERP	+0.0120%	24h	4,337.6	+0.141%	$3.5M	$48.5M	15x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,334.3	+0.066%	$4.6M	$13.6M	25x	as long as short
Bybit XAUUSDT	+0.0127%	4h	4,335.3	+0.088%	$81.2M	$168.0M	150x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,331.6	+0.002%	$30.3M	$64.7M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0154%	4h	4,335.1	+0.083%	$1.4M	$3.0M	25x	as long as short
Bullet GOLD-USD	+0.0179%	1h	4,333.6	+0.049%	$59K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,332.9	+0.032%	$72.3M	$132.2M	100x	as long as short
Phemex XAUUSDT	+0.0223%	4h	4,333.3	+0.042%	$2.2M	$961K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,333.8	+0.053%	$170.8M	$354.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0326%	1h	4,330.4	−0.026%	$583K	$150K	25x	as long as short
BloFin XAU-USDT	+0.0358%	4h	4,333.1	+0.037%	$16.2M	$5.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0313%	1h	4,332.8	+0.029%	$256K	—	111x	as long as short
HTX XAU-USDT	+0.1104%	4h	4,341.1	+0.222%	$3.2M	$6.9M	75x	as long as short
Bluefin GOLD-PERP	+0.1353%	1h	4,327.5	−0.093%	$25K	$1K	20x	as long as short