Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0311%/8h= −34.1% APRpaid last 24h −0.070%

Price spread now: Binance against GMX−0.013%7-day average −0.007% · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.308%−$31 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.013%, 7d avg −0.007%

Together, before fees−0.278%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX GOLD/USD [ETH-USDC]	4,341.4	L +0.0428% / S −0.0252%	pay 0.0053% / 1h	24m 53s	$250K	—	111x
Short	Binance XAUUSDT	4,340.8	0.0116	get 0.0058% / 4h	3h 24m	$417.7M	$2.09B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.013%Rate

Funding earned: −$65.34
Price spread: −0.013% → −0.007%: −$0.68
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$88.02
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 4 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	7.2 bp −$717	doesn't fit

GMX: 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
SunX XAU-USDT	0.0000%	4h	4,345.6	+0.098%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,337.2	−0.097%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,341.5	+0.002%	$3.8M	$12.4M	25x	as long as short
Bybit XAUUSDT	+0.0022%	4h	4,341.5	+0.003%	$79.9M	$152.1M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.8	−0.105%	$13.3M	$37.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.208%	$619	$54	52x	as long as short
Bluefin GOLD-PERP	+0.0037%	1h	4,335.5	−0.135%	$25K	$14K	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.6	+0.005%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	−0.025%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.8	+0.746%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,340.1	−0.029%	$20.7M	$34.6M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,337.8	−0.083%	$293.4M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.5	−0.068%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339.4	−0.046%	$4.2M	$37.4M	15x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,341	−0.010%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	−0.044%	$2.1M	$4.8M	25x	as long as short
Lighter RH XAU	+0.0064%	1h	4,342.8	+0.031%	$20.2M	$40.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,338	−0.078%	$33K	—	25x	as long as short
Gate XAU_USDT	+0.0082%	4h	4,342.5	+0.025%	$268.9M	$416.8M	100x	as long as short
Aster XAUUSD1	+0.0091%	4h	4,342.5	+0.026%	$71.5M	$332.0M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,337.6	−0.087%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,338.1	−0.077%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,340.5	−0.021%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,340.7	−0.016%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0116%	4h	4,340.8	−0.013%	$371.0M	$320.0M	1000x	as long as short
Binance XAUUSDTshort	+0.0116%	4h	4,340.8	−0.013%	$417.7M	$2.09B	100x
edgeX XAUUSDC	+0.0131%	4h	4,338	−0.077%	$30.2M	$58.1M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.4	−0.069%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0204%	4h	4,341.8	+0.009%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0215%	1h	4,341.2	−0.004%	$4.3M	$1.9M	20x	as long as short
Bullet GOLD-USD	+0.0215%	1h	4,341.5	+0.002%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,339.8	−0.037%	$205K	$827K	25x	as long as short
Phemex XAUUSDT	+0.0257%	4h	4,344.1	+0.063%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.3	−0.070%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0264%	4h	4,341.6	+0.004%	$71.0M	$109.1M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,341.8	+0.009%	$167.0M	$281.9M	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,341.7	+0.008%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0428% / S −0.0252%	1h	4,341.4	long leg	$250K	—	111x
HTX XAU-USDT	+0.0594%	4h	4,345.8	+0.100%	$2.8M	$4.6M	75x	as long as short