Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h +0.026%

Price spread now: Variational Omni against Extended−0.042%7-day average +0.087% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days+0.070%+$7 · spread now −0.042%, 7d avg +0.087%

Together, before fees+0.084%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Variational Omni is 0.128% cheaper against Extended than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.087%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XAU-USD	4,343.8	0.0032	pay 0.0004% / 1h	9m 39s	$13.2M	$50.9M	25x
Short	Variational Omni XAU	4,342	0.0016	get 0.0008% / 4h	2h 09m	$47.8M	$34.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.042%Rate

Funding earned: −$3.29
Price spread: −0.042% → +0.087%: −$12.81
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.11
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 min ago; Variational Omni: RFQ quote, 5 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 Extended live order book, 4 min ago	0.12 bp	4.0 bp −$4	5.9 bp −$59	9.8 bp −$977	29.7 bp −$14.8K
Sell Variational Omni RFQ quote, 5 min ago	1.55 bp	doesn't fit	2.1 bp −$21	7.4 bp −$739	doesn't fit

XAU on 38 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	−0.0421%	1h	4,334.7	−0.210%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,345	+0.027%	$71.1M	$241.0M	20x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,342.3	−0.036%	$82.6M	$144.9M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,343.4	−0.010%	$273.2M	$413.5M	100x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,342.6	−0.028%	$67.1M	$114.0M	100x	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,342.1	−0.041%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,341.4	−0.056%	$3.9M	$34.1M	15x	as long as short
Bullet GOLD-USD	0.0000%	1h	4,342.2	−0.037%	$58K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,346.3	+0.056%	$92K	$10.9M	20x	as long as short
Binance XAUUSDT	+0.0006%	4h	4,342.1	−0.040%	$415.5M	$2.12B	100x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XAU_USDT	+0.0010%	4h	4,342	−0.042%	$373.9M	$349.9M	1000x	as long as short
Variational Omni XAUshort	+0.0016%	4h	4,342	−0.042%	$47.8M	$34.0M	—
HTX XAU-USDT	+0.0027%	4h	4,346.2	+0.054%	$2.8M	$3.8M	75x	as long as short
Lighter XAU	+0.0032%	1h	4,340.9	−0.068%	$20.7M	$46.8M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,343.8	−0.002%	$20.2M	$45.1M	25x	as long as short
Extended XAU-USDlong	+0.0032%	1h	4,343.8	long leg	$13.2M	$50.9M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.151%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.4	−0.010%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.2	+0.883%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.4	−0.102%	$293.0M	$52.6M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,341.8	−0.047%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.1	−0.064%	$14.5M	$54.5M	25x	as long as short
Paradex XAU-USD-PERP	+0.0051%	8h	4,342.5	−0.031%	$19K	$6K	5x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,342.5	−0.031%	$5.5M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0066%	4h	4,338.8	−0.116%	$30.2M	$57.7M	50x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,338.1	−0.132%	$2.0M	$5.2M	25x	as long as short
BloFin XAU-USDT	+0.0086%	4h	4,342.2	−0.039%	$14.8M	$4.3M	100x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,341.8	−0.046%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.5	−0.054%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.3	−0.150%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.5	−0.008%	$47K	$69K	25x	as long as short
Hotstuff GOLD-PERP	+0.0176%	1h	4,339.7	−0.095%	$33K	—	25x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,342.1	−0.040%	$3.4M	$12.6M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0198%	8h	4,342.7	−0.026%	$157.9M	$275.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,338.9	−0.113%	$598K	$140K	25x	as long as short
Phemex XAUUSDT	+0.0417%	4h	4,345.8	+0.044%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0495% / S −0.0311%	1h	4,342.1	−0.039%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0903%	1h	4,340.9	−0.068%	$221K	$884K	25x	as long as short