Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h −0.008%

Price spread now: Coinbase International against edgeX−0.131%77s7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs+$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.219% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.352%+$35 on $10k

Price spread, last 4 days (all we have)+0.337%+$34 · spread now −0.131%, 7d avg +0.058%

Together, before fees+0.689%+ Points / potential airdropedgeX: Active · farm board+$69 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.190% cheaper against edgeX than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.058%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.352%, so the current rate has only just turned against you. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XAUUSDC	4,304.2	0.0121	pay 0.0060% / 4h	3h 29m	$30.0M	$61.9M	50x
Short	Coinbase International GOLD-PERP-INTX	4,298.6	0.0056	get 0.0007% / 1h	29m 41s	$2.0M	$5.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$13.62
Price spread: −0.131% → +0.058%: −$18.95
Slippage, 4 orders: −$2.94
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$54.51
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Coinbase International: live order book, 4 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 edgeX live order book, 4 min ago	0.23 bp	4.7 bp −$5	4.8 bp −$48	8.2 bp −$818	37.7 bp −$18.9K
Sell Coinbase International live order book, 4 min ago	1.05 bp	6.4 bp −$6	8.8 bp −$88	doesn't fit	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
Hotstuff GOLD-PERP	−0.0040%	1h	4,300.7	−0.082%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,306.8	+0.058%	$92K	$6.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,300.2	−0.095%	$273K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.073%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,308.6	+0.101%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,335.6	+0.728%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,302.8	−0.034%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,302.2	−0.048%	$290.8M	$54.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,299.7	−0.106%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,301.6	−0.062%	$15.0M	$55.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0055%	4h	4,306.3	+0.047%	$73.4M	$271.7M	20x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0056%	1h	4,298.6	−0.131%	$2.0M	$5.1M	25x
Paradex XAU-USD-PERP	+0.0061%	8h	4,304.6	+0.007%	$2K	$13K	5x	as long as short
Extended XAU-USD	+0.0072%	1h	4,301	−0.076%	$13.0M	$36.3M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0074%	4h	4,307.8	+0.082%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0080%	1h	4,304.3	0.000%	$20.3M	$29.1M	25x	as long as short
Variational Omni XAU	+0.0092%	4h	4,306.3	+0.048%	$46.7M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,306.2	+0.045%	$42K	$86K	25x	as long as short
Bybit XAUUSDT	+0.0098%	4h	4,306	+0.041%	$77.5M	$158.0M	150x	as long as short
Pacifica XAU	+0.0100%	1h	4,301.8	−0.057%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,303.1	−0.027%	$275K	$218K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,306.9	+0.061%	$19.8M	$40.0M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,302	−0.051%	$159K	$87	10x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,305.2	+0.022%	$353.5M	$339.1M	1000x	as long as short
Binance XAUUSDT	+0.0109%	4h	4,305.2	+0.021%	$435.8M	$2.23B	100x	as long as short
Kalshi KXGOLDPERP	+0.0111%	24h	4,305	+0.017%	$3.7M	$46.6M	15x	as long as short
edgeX XAUUSDClong	+0.0121%	4h	4,304.2	long leg	$30.0M	$61.9M	50x
RISEx XAU/USDC	+0.0126%	1h	4,304.8	+0.013%	$4.4M	$13.1M	25x	as long as short
Gate XAU_USDT	+0.0148%	4h	4,307.5	+0.075%	$297.1M	$429.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0169%	1h	4,301.7	−0.059%	$134K	$849K	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,305.6	+0.032%	$70.5M	$125.5M	100x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,303.1	−0.027%	$58K	$81K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0250%	8h	4,306	+0.041%	$170.8M	$330.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0329%	1h	4,300.3	−0.093%	$572K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0388%	4h	4,307.2	+0.069%	$16.2M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0467% / S −0.0314%	1h	4,304.2	−0.001%	$255K	—	111x	as long as short
Phemex XAUUSDT	+0.0583%	4h	4,308	+0.087%	$2.2M	$956K	100x	as long as short
HTX XAU-USDT	+0.1148%	4h	4,310.6	+0.148%	$3.2M	$6.3M	75x	as long as short
Bluefin GOLD-PERP	+0.3495%	1h	4,300.2	−0.093%	$25K	$1K	20x	as long as short