Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0417%/8h= −45.6% APRpaid last 24h +0.241%

Price spread now: Bluefin against Gate−0.173%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bluefin is 0.173% cheaper against Gate than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAU_USDT	4,350.9	0	get 0.0000% / 4h	1h 59m	$270.6M	$404.4M	100x
Short	Bluefin GOLD-PERP	4,343.4	−0.0417	pay 0.0052% / 1h	59m 15s	$26K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.173%Rate

Funding earned: −$87.53
Price spread: −0.173% → 0.000%: −$17.28
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$126.82
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Bluefin: no order-book sample. 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 Gate live order book, 5 min ago	0.01 bp	8.4 bp −$8	10.5 bp −$105	13.3 bp −$1,327	14.5 bp −$7,227
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPshort	−0.0417%	1h	4,343.4	−0.173%	$26K	$21K	20x
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,344.9	−0.139%	$599K	$160K	25x	as long as short
tradeXYZ xyz:GOLD	−0.0074%	1h	4,346	−0.113%	$292.5M	$53.8M	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,350	−0.022%	$71.2M	$240.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,349.9	−0.024%	$412.0M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,350.8	−0.003%	$82.6M	$144.9M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,347.9	−0.070%	$3.4M	$12.6M	25x	as long as short
Gate XAU_USDTlong	0.0000%	4h	4,350.9	long leg	$270.6M	$404.4M	100x
MEXC XAU_USDT	0.0000%	4h	4,348.8	−0.048%	$372.2M	$346.4M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,350.3	−0.014%	$67.3M	$112.2M	100x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,344.2	−0.154%	$47.8M	$33.5M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,343.9	−0.161%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,344.8	−0.141%	$3.9M	$33.9M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,353.8	+0.065%	$93K	$10.9M	20x	as long as short
HTX XAU-USDT	0.0000%	4h	4,353.1	+0.049%	$2.8M	$3.8M	75x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,339.5	−0.263%	$30.2M	$58.0M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,347.6	−0.077%	$20.7M	$42.9M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,347.6	−0.077%	$20.2M	$40.7M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,347.9	−0.070%	$13.1M	$50.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.012%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.6	−0.168%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,385.1	+0.785%	—	$995K	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.8	−0.119%	$14.3M	$55.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,347.7	−0.074%	$19K	$6K	5x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,344	−0.159%	$5.5M	$1.9M	20x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,340.4	−0.242%	$33K	—	25x	as long as short
Bullet GOLD-USD	+0.0073%	1h	4,349.9	−0.024%	$59K	$84K	10x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,349.2	−0.041%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.8	−0.164%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,342.5	−0.194%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.3	−0.175%	$47K	$64K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0111%	1h	4,348.9	−0.047%	$4.3M	$2.3M	20x	as long as short
OKX XAU-USDT-SWAP	+0.0173%	8h	4,350.2	−0.017%	$158.0M	$272.7M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,347.9	−0.070%	$2.0M	$5.3M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,349	−0.045%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0378%	4h	4,349.7	−0.029%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,349.6	−0.030%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0717%	1h	4,348.7	−0.051%	$221K	$878K	25x	as long as short