Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0389%/8h= −42.6% APRpaid last 24h −0.084%

Price spread now: Gate against GMX+0.037%7-day average +0.019% · you sell dearer than you buy

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

Long on GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.323%−$32 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.037%, 7d avg +0.019%

Together, before fees−0.353%−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: −$12 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]	4,366.1	L +0.0389% / S −0.0197%	pay 0.0049% / 1h	35m 53s	$252K	—	111x
Short	Gate XAU_USDT	4,367.8	0	get 0.0000% / 4h	3h 35m	$265.6M	$413.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.037%Rate

Funding earned: −$81.68
Price spread: +0.037% → +0.019%: $1.76
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$106.92
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	0.01 bp	7.5 bp −$8	8.9 bp −$89	14.5 bp −$1,451	22.8 bp −$11.4K

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
Aster XAUUSD1	0.0000%	4h	4,366.8	+0.016%	$71.1M	$201.1M	20x	as long as short
Gate XAU_USDTshort	0.0000%	4h	4,367.8	+0.037%	$265.6M	$413.4M	100x
MEXC XAU_USDT	0.0000%	4h	4,366.6	+0.012%	$373.9M	$324.8M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.3	−0.018%	$48.6M	$27.5M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,362.1	−0.092%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,370.5	+0.100%	$93K	$10.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362	−0.095%	$268K	—	250x	as long as short
Binance XAUUSDT	+0.0004%	4h	4,366.7	+0.012%	$410.7M	$2.15B	100x	as long as short
edgeX XAUUSDC	+0.0004%	4h	4,358.8	−0.168%	$30.3M	$60.3M	50x	as long as short
Bitget XAUUSDT	+0.0028%	4h	4,367.1	+0.022%	$69.6M	$113.6M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.360%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,364.2	−0.044%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,365	−0.026%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.1	+0.755%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,365.5	−0.015%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,363	−0.072%	$294.1M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.5	−0.129%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,362.9	−0.074%	$48K	$64K	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,360	−0.141%	$33K	—	25x	as long as short
Lighter XAU	+0.0072%	1h	4,365	−0.026%	$20.6M	$43.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0077%	8h	4,364.3	−0.043%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.9	−0.029%	$162K	$87	10x	as long as short
Bybit XAUUSDT	+0.0086%	4h	4,367.4	+0.030%	$82.7M	$143.6M	150x	as long as short
Lighter RH XAU	+0.0096%	1h	4,367.7	+0.036%	$20.2M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,360.4	−0.131%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.7	−0.125%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.4	−0.108%	$277K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,406	+0.914%	$26K	$22K	20x	as long as short
Polymarket Perps GOLD-USD	+0.0128%	1h	4,364.8	−0.031%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0144%	1h	4,362.4	−0.086%	$13.5M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0158%	4h	4,364.1	−0.046%	$1.4M	$3.1M	25x	as long as short
BloFin XAU-USDT	+0.0160%	4h	4,364.9	−0.029%	$15.6M	$4.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,364.7	−0.033%	$235K	$656K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0187%	8h	4,368.2	+0.047%	$165.7M	$287.0M	100x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,366	−0.004%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,363.1	−0.070%	$595K	$150K	25x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0389% / S −0.0197%	1h	4,366.1	long leg	$252K	—	111x
HTX XAU-USDT	+0.0674%	4h	4,369.5	+0.077%	$2.9M	$3.9M	75x	as long as short
Phemex XAUUSDT	+0.0684%	4h	4,367.3	+0.026%	$2.2M	$1.1M	100x	as long as short