Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.062%

Price spread now: Deribit against Gate−0.178%51s7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.273% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.758%+$76 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.178%, 7d avg −0.138%

Together, before fees+0.810%+$81 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.040% cheaper against Gate than usual: you would sell low and buy high (spread −0.178% now, against its 7-day average of −0.138%). If the spread goes back, that is −$4 on $10k: about 23 hours of funding at the current rate (+$4 a day). At the pace of the last 4 days (+0.758% in total) that is about 5 hours. The two prices were read 51 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	Gate XAU_USDT	4,332.6	0.0072	pay 0.0036% / 4h	2h 12m	$272.5M	$415.6M	100x
Short	Deribit GOLD_USDC-PERPETUAL	4,324.9	0.0213	get 0.0027% / 1h	12m 27s	$195K	$829K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.178%Rate

Funding earned: $29.54
Price spread: −0.178% → −0.138%: −$3.99
Slippage, 4 orders: −$5.33
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$1.78
Costs to cover: 0.273%
Break-even: 7.4 days

Slippage from Gate: live order book, 2 min ago; Deribit: live order book, 36 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, 2 min ago	0.01 bp	7.5 bp −$8	8.6 bp −$86	14.2 bp −$1,415	17.4 bp −$8,702
Sell Deribit live order book, 36 min ago	0.12 bp	3.6 bp −$4	4.6 bp −$46	doesn't fit	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	−0.0038%	1h	4,323.8	−0.204%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,329.7	−0.068%	$92K	$8.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,327.4	−0.120%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,332.4	−0.005%	$77.9M	$156.3M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,326	−0.153%	$13.1M	$37.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.411%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,326.2	−0.148%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,328.6	−0.092%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,362.4	+0.688%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,328.8	−0.087%	$20.5M	$31.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,327.8	−0.111%	$291.8M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,326.9	−0.131%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,331.2	−0.032%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0062%	24h	4,326.9	−0.132%	$4.0M	$42.0M	15x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,321.2	−0.263%	$32K	—	25x	as long as short
Lighter RH XAU	+0.0072%	1h	4,331.1	−0.034%	$19.9M	$38.9M	25x	as long as short
Gate XAU_USDTlong	+0.0072%	4h	4,332.6	long leg	$272.5M	$415.6M	100x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,321.3	−0.261%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,329.7	−0.068%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,332.6	0.000%	$72.2M	$331.3M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,325.9	−0.155%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.8	−0.226%	$272K	$208K	50x	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	−0.160%	$1.4M	$3.0M	25x	as long as short
Variational Omni XAU	+0.0104%	4h	4,327.8	−0.111%	$46.9M	$28.6M	—	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,331.3	−0.030%	$363.6M	$329.4M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,331.4	−0.027%	$414.5M	$2.13B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,330	−0.061%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,324.5	−0.187%	$30.1M	$60.5M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,325.4	−0.166%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0159%	1h	4,331.2	−0.032%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0175%	1h	4,331.1	−0.035%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0213%	1h	4,324.9	−0.178%	$195K	$829K	25x
HTX XAU-USDT	+0.0235%	4h	4,329	−0.083%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0248%	1h	4,322.5	−0.232%	$589K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0258%	4h	4,331.5	−0.024%	$68.0M	$118.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0333%	8h	4,332	−0.014%	$170.7M	$296.6M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,326.1	−0.149%	$16.0M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0455% / S −0.0296%	1h	4,331.4	−0.027%	$250K	—	111x	as long as short
Phemex XAUUSDT	+0.0463%	4h	4,327.7	−0.113%	$2.2M	$962K	100x	as long as short