Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.012%

Price spread now: ApeX Omni against Gate−0.101%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$14 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now −0.101%, 7d avg −0.069%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.032% cheaper against Gate than usual: you would sell low and buy high (spread −0.101% now, against its 7-day average of −0.069%). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAU_USDT	4,365.1	0	get 0.0000% / 4h	23m 10s	$269.1M	$412.8M	100x
Short	ApeX Omni XAUUSDT	4,360.7	0.0100	get 0.0013% / 1h	23m 10s	$277K	$204K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.101%Rate

Funding earned: $21
Price spread: −0.101% → −0.069%: −$3.25
Slippage, 4 orders: −$23.66
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$30.9
Costs to cover: 0.487%
Break-even: 17.3 days

Slippage from Gate: live order book, 6 min ago; ApeX Omni: live order book, 54 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 Gate live order book, 6 min ago	0.01 bp	7.5 bp −$8	8.0 bp −$80	12.8 bp −$1,280	14.3 bp −$7,151
Sell ApeX Omni live order book, 54 min ago	7.49 bp	17.0 bp −$17	29.5 bp −$295	39.0 bp −$3,897	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	−0.0206%	1h	4,357.5	−0.173%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	−0.0016%	1h	4,360.5	−0.105%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,360.3	−0.110%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,365	−0.003%	$71.6M	$225.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.1	0.000%	$406.9M	$2.13B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,365.4	+0.006%	$82.5M	$142.3M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.7	−0.010%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDTlong	0.0000%	4h	4,365.1	long leg	$269.1M	$412.8M	100x
MEXC XAU_USDT	0.0000%	4h	4,364.6	−0.011%	$376.1M	$322.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,364.6	−0.012%	$69.6M	$113.3M	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	4,362.9	−0.051%	$48.4M	$30.2M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,362.9	−0.051%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,362.9	−0.050%	$4.1M	$36.0M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,369.1	+0.092%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,360.7	−0.100%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0013%	4h	4,358.6	−0.150%	$30.3M	$58.6M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,364.9	−0.005%	$5.4M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,360.7	−0.101%	$13.1M	$45.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.336%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,364.1	−0.023%	$20.7M	$44.7M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,364	−0.025%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,398.6	+0.767%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,366.4	+0.030%	$20.3M	$42.1M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.6	−0.103%	$293.6M	$52.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.8	−0.098%	$14.5M	$56.6M	25x	as long as short
Paradex XAU-USD-PERP	+0.0052%	8h	4,365	−0.002%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364	−0.026%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0095%	1h	4,364	−0.025%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0096%	1h	4,364.8	−0.008%	$59K	$81K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,361.1	−0.092%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,360.7	−0.101%	$277K	$204K	50x
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,361.7	−0.078%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0159%	8h	4,365.9	+0.018%	$158.9M	$273.5M	100x	as long as short
HTX XAU-USDT	+0.0165%	4h	4,368.2	+0.071%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0209%	1h	4,363.1	−0.046%	$235K	$736K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,361.9	−0.074%	$602K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,364.7	−0.008%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0335%	4h	4,367	+0.044%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,364.8	−0.008%	$252K	—	111x	as long as short