Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Lighter RH against Extended+0.124%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$70.068% of the position

Long on Extended Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 7 days−0.125%−$12 · spread now +0.124%, 7d avg +0.076%

Together, before fees−0.101%+ Points / potential airdropExtended: Active · Lighter RH: Points live · farm board−$10 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: Lighter RH is 0.049% dearer against Extended than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XAU-USD	4,337.7	0.0032	pay 0.0004% / 1h	45m 39s	$13.3M	$37.9M	25x
Short	Lighter RH XAU	4,343.1	0.0032	get 0.0004% / 1h	45m 39s	$20.0M	$39.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Extended. 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 ExtendedbpFee Lighter RHbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.076%: $4.85
Slippage, 4 orders: −$1.76
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$1.9
Costs to cover: 0.068%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Lighter RH: 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 Extended live order book, 3 min ago	0.12 bp	2.6 bp −$3	3.2 bp −$32	7.0 bp −$703	26.3 bp −$13.2K
Sell Lighter RH live order book, 3 min ago	0.56 bp	0.6 bp −$1	0.6 bp −$6	3.5 bp −$345	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	−0.0020%	1h	4,336.3	−0.033%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,347.5	+0.226%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,339.4	+0.040%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,340.8	+0.072%	$3.5M	$12.1M	25x	as long as short
Lighter RH XAUshort	+0.0032%	1h	4,343.1	+0.124%	$20.0M	$39.2M	25x
Extended XAU-USDlong	+0.0032%	1h	4,337.7	long leg	$13.3M	$37.9M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.293%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.7	+0.138%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,342.1	+0.102%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.8	+0.878%	—	$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	4,340.9	+0.074%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.1	+0.032%	$293.4M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.9	+0.005%	$15.1M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,340.4	+0.062%	$4.3M	$37.5M	15x	as long as short
Gate XAU_USDT	+0.0052%	4h	4,344.9	+0.165%	$267.9M	$412.1M	100x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,340.1	+0.055%	$33K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,340.1	+0.055%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0069%	4h	4,342	+0.098%	$80.5M	$150.6M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,342.9	+0.120%	$71.4M	$332.4M	20x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,341.1	+0.079%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,342.7	+0.116%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,338.2	+0.011%	$1.4M	$1.1M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,341.5	+0.088%	$372.3M	$317.5M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337	−0.017%	$274K	$203K	50x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,336.2	−0.035%	$30.2M	$58.3M	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,341.9	+0.096%	$414.9M	$2.09B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342.6	+0.113%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.3	+0.014%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0166%	4h	4,341.6	+0.091%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0177%	4h	4,343.9	+0.144%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,341.8	+0.095%	$205K	$826K	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343.6	+0.136%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0220%	1h	4,343.4	+0.132%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0244%	4h	4,341.6	+0.091%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	+0.060%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0317%	8h	4,342.5	+0.111%	$166.3M	$281.5M	100x	as long as short
BloFin XAU-USDT	+0.0352%	4h	4,343.4	+0.131%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0252%	1h	4,343.5	+0.134%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0549%	4h	4,347.6	+0.228%	$2.8M	$4.6M	75x	as long as short