Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.029%

Price spread now: Lighter against edgeX+0.157%79s7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as 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−$110.107% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.167%−$17 · spread now +0.157%, 7d avg +0.052%

Together, before fees−0.205%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.104% dearer against edgeX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.052%. The two prices were read 79 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	4,359.1	0.0008	pay 0.0004% / 4h	19m 53s	$30.3M	$58.8M	50x
Short	Lighter XAU	4,365.9	0.0040	get 0.0005% / 1h	19m 53s	$20.7M	$44.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.157%Rate

Funding earned: $6.81
Price spread: +0.157% → +0.052%: $10.43
Slippage, 4 orders: −$1.67
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $6.57
Costs to cover: 0.107%
Break-even: 0.2 days

Slippage from edgeX: live order book, 4 min ago; Lighter: 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	0.34 bp	4.8 bp −$5	4.9 bp −$49	7.7 bp −$771	35.2 bp −$17.6K
Sell Lighter live order book, 4 min ago	0.29 bp	0.6 bp −$1	2.0 bp −$20	9.5 bp −$955	22.0 bp −$11.0K

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	−0.0215%	1h	4,360.5	+0.032%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	−0.0104%	1h	4,362.3	+0.074%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,360.3	+0.028%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,368.5	+0.217%	$71.7M	$225.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,369.1	+0.230%	$410.4M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,369.4	+0.237%	$82.6M	$142.3M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,366.9	+0.180%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,369.3	+0.235%	$269.8M	$415.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,368.8	+0.223%	$376.6M	$323.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,369.2	+0.232%	$69.7M	$113.5M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,366.6	+0.172%	$48.5M	$30.2M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,364.9	+0.134%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,364.4	+0.122%	$4.1M	$36.0M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,372.5	+0.309%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.7	+0.106%	$268K	—	250x	as long as short
edgeX XAUUSDClong	+0.0008%	4h	4,359.1	long leg	$30.3M	$58.8M	50x
QFEX GOLD-USD	+0.0032%	1h	4,366	+0.159%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.198%	$619	$54	52x	as long as short
Lighter XAUshort	+0.0040%	1h	4,365.9	+0.157%	$20.7M	$44.8M	25x
Extended XAU-USD	+0.0040%	1h	4,364	+0.113%	$13.1M	$45.5M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,367.1	+0.184%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,400.4	+0.948%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,368.2	+0.209%	$20.2M	$42.1M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,364.1	+0.116%	$293.8M	$52.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,363.3	+0.098%	$14.6M	$56.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0053%	8h	4,366.8	+0.177%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,366.7	+0.176%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0098%	1h	4,366.3	+0.166%	$4.3M	$1.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,363.7	+0.106%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,362.3	+0.074%	$277K	$204K	50x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,367.2	+0.187%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364.4	+0.122%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0161%	8h	4,369.9	+0.249%	$159.1M	$274.1M	100x	as long as short
HTX XAU-USDT	+0.0170%	4h	4,370.7	+0.268%	$2.8M	$3.7M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.5	+0.125%	$602K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,367.2	+0.186%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0277%	1h	4,366.4	+0.168%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0327%	4h	4,367.2	+0.186%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,368.2	+0.209%	$252K	—	111x	as long as short