Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.005%

Price spread now: Hotstuff against Gate−0.090%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 Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hotstuff is 0.090% cheaper against Gate than usual: you would sell low and buy high (−$9 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	4,368	0	get 0.0000% / 4h	52m 31s	$268.6M	$405.8M	100x
Short	Hotstuff GOLD-PERP	4,364.1	−0.0032	pay 0.0004% / 1h	52m 31s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$6.72
Price spread: −0.090% → 0.000%: −$8.95
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$35.67
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; Hotstuff: 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, 2 min ago	0.01 bp	7.5 bp −$8	8.3 bp −$83	12.3 bp −$1,227	14.1 bp −$7,056
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 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	−0.0478%	1h	4,360.6	−0.169%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERPshort	−0.0032%	1h	4,364.1	−0.090%	$33K	—	25x
Phoenix GOLD	−0.0004%	1h	4,364.7	−0.076%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,367.5	−0.012%	$71.5M	$230.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,366.4	−0.037%	$409.2M	$2.10B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,367.6	−0.009%	$82.9M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,366.9	−0.024%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDTlong	0.0000%	4h	4,368	long leg	$268.6M	$405.8M	100x
MEXC XAU_USDT	0.0000%	4h	4,367	−0.024%	$376.1M	$319.6M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,366.7	−0.031%	$67.0M	$111.2M	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	4,366.3	−0.039%	$48.5M	$31.0M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,368.4	+0.009%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,365	−0.069%	$4.0M	$35.2M	15x	as long as short
Bullet GOLD-USD	0.0000%	1h	4,366.8	−0.028%	$60K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,371.6	+0.082%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,364.4	−0.082%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,362.7	−0.123%	$30.3M	$58.1M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0025%	1h	4,365.8	−0.051%	$235K	$735K	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,366.7	−0.030%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,366.8	−0.028%	$20.9M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,368.7	+0.015%	$20.3M	$41.5M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,364	−0.091%	$13.0M	$46.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.403%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366	−0.046%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,401.7	+0.771%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,364.2	−0.087%	$293.7M	$52.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,366.8	−0.028%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,363.5	−0.104%	$14.5M	$56.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0073%	1h	4,366.4	−0.037%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,366.5	−0.034%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,364.1	−0.090%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,363.4	−0.105%	$274K	$199K	50x	as long as short
HTX XAU-USDT	+0.0117%	4h	4,371	+0.068%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,363.9	−0.094%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0156%	8h	4,368	0.000%	$158.1M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.7	−0.077%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,367.4	−0.014%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0283%	4h	4,370.3	+0.051%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,367.3	−0.016%	$252K	—	111x	as long as short