Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.006%

Price spread now: Injective against Gate−0.609%84s7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Injective is 0.609% cheaper against Gate than usual: you would sell low and buy high (spread −0.609% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$61 on $10k: about 2 months of funding at the current rate (+$1 a day). The two prices were read 84 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	4,377.1	0	get 0.0000% / 4h	3h 55m	$267.0M	$406.4M	100x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	55m 54s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.609%Rate

Funding earned: $7
Price spread: −0.609% → 0.000%: −$60.86
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$68.88
Costs to cover: 0.150%
Break-even: 75.9 days

Slippage unknown: Gate: live order book, 3 min ago; Injective: 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, 3 min ago	0.01 bp	7.5 bp −$8	9.5 bp −$95	13.1 bp −$1,308	14.4 bp −$7,181
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Phoenix GOLD	−0.0004%	1h	4,368.5	−0.196%	$48K	$64K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.6	−0.010%	$71.9M	$215.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.3	−0.017%	$410.5M	$2.15B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,376.8	−0.005%	$83.1M	$144.2M	150x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,375.6	−0.033%	$33K	—	25x	as long as short
Gate XAU_USDTlong	0.0000%	4h	4,377.1	long leg	$267.0M	$406.4M	100x
MEXC XAU_USDT	0.0000%	4h	4,376.5	−0.012%	$374.3M	$320.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,376.2	−0.019%	$69.8M	$114.6M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,377.8	+0.017%	$48.7M	$28.0M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,373.8	−0.074%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,375.3	−0.040%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,379.9	+0.065%	$93K	$10.4M	20x	as long as short
Phemex XAUUSDT	0.0000%	4h	4,377.4	+0.007%	$2.2M	$1.1M	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.5	−0.127%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,366.5	−0.241%	$30.4M	$59.5M	50x	as long as short
Lighter RH XAU	+0.0032%	1h	4,377.9	+0.019%	$20.2M	$40.7M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	−0.609%	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,375.3	−0.040%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,376.9	−0.004%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,411.8	+0.794%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,378	+0.022%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,373	−0.093%	$294.9M	$53.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,373.5	−0.081%	$14.7M	$57.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,377.8	+0.017%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.5	−0.058%	$20.7M	$43.0M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,372.7	−0.100%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0092%	1h	4,376.7	−0.008%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0096%	1h	4,372.5	−0.104%	$13.2M	$44.3M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,373.2	−0.088%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,375	−0.047%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,370.4	−0.152%	$277K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,369.6	−0.171%	$26K	$22K	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0139%	1h	4,373.8	−0.074%	$236K	$654K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0164%	8h	4,377.9	+0.019%	$161.0M	$280.1M	100x	as long as short
Bullet GOLD-USD	+0.0177%	1h	4,376.6	−0.010%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.8	−0.076%	$596K	$154K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,376.2	−0.019%	$14.8M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.9	−0.026%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,380.9	+0.087%	$2.9M	$3.8M	75x	as long as short