Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.017%

Price spread now: Lighter RH against Gate+0.002%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days−0.076%−$8 · spread now +0.002%, 7d avg −0.045%

Together, before fees−0.022%+ Points / potential airdropLighter RH: Points live · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.048% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAU_USDT	4,356.7	0	get 0.0000% / 4h	2h 41m	$263.2M	$406.5M	100x
Short	Lighter RH XAU	4,356.8	0.0048	get 0.0006% / 1h	41m 35s	$20.1M	$40.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.002%Rate

Funding earned: $10.08
Price spread: +0.002% → −0.045%: $4.77
Slippage, 4 orders: −$2.79
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$2.94
Costs to cover: 0.178%
Break-even: 9.0 days

Slippage from Gate: live order book, 2 min ago; Lighter RH: live order book, 2 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	8.4 bp −$84	13.8 bp −$1,379	17.3 bp −$8,635
Sell Lighter RH live order book, 2 min ago	1.07 bp	1.7 bp −$2	1.7 bp −$17	5.1 bp −$508	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	−0.0323%	1h	4,348.6	−0.186%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0104%	1h	4,351.6	−0.118%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,355.7	−0.024%	$69.7M	$280.3M	20x	as long as short
Gate XAU_USDTlong	0.0000%	4h	4,356.7	long leg	$263.2M	$406.5M	100x
Kalshi KXGOLDPERP	0.0000%	24h	4,353.2	−0.081%	$4.1M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,358.6	+0.044%	$93K	$9.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,351.4	−0.123%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.3	−0.124%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.145%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.2	+0.034%	$3.8M	$4.7M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,389	+0.741%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,354.3	−0.057%	$20.6M	$43.5M	25x	as long as short
Lighter RH XAUshort	+0.0048%	1h	4,356.8	+0.002%	$20.1M	$40.8M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.5	−0.097%	$293.8M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.8	−0.090%	$15.0M	$57.5M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,353.9	−0.065%	$5.6M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0053%	4h	4,360	+0.075%	$48.4M	$28.4M	—	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,353.9	−0.065%	$4.3M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.6	−0.141%	$2.0M	$5.0M	25x	as long as short
edgeX XAUUSDC	+0.0076%	4h	4,353.6	−0.071%	$30.3M	$60.7M	50x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,355.2	−0.035%	$372.5M	$321.3M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,355	−0.040%	$410.2M	$2.11B	100x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,355	−0.040%	$19K	$5K	5x	as long as short
Pacifica XAU	+0.0100%	1h	4,351.7	−0.115%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.3	+0.058%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,354.3	−0.055%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,356.7	−0.001%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,355.2	−0.036%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,358.7	+0.044%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDT	+0.0144%	4h	4,355.8	−0.021%	$69.5M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,355.3	−0.033%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,356.2	−0.012%	$84.1M	$143.6M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,353.8	−0.067%	$234K	$661K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0224%	8h	4,356.8	+0.002%	$164.8M	$284.7M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.8	−0.113%	$593K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.185%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.3	−0.033%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0422%	4h	4,358.9	+0.049%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0531%	4h	4,360.5	+0.087%	$2.9M	$3.9M	75x	as long as short