Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.017%

Price spread now: HTX against GMX+0.061%7-day average +0.046% · you sell dearer than you buy

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.061%, 7d avg +0.046%

Together, before fees−0.298%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.272%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX GOLD/USD [ETH-USDC]	4,344.1	L +0.0427% / S −0.0252%	pay 0.0053% / 1h	15m 21s	$250K	—	111x
Short	HTX XAU-USDT	4,346.8	0.0501	get 0.0251% / 4h	3h 15m	$2.8M	$4.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.061%Rate

Funding earned: $15.52
Price spread: +0.061% → +0.046%: $1.53
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$6.95
Costs to cover: 0.240%
Break-even: 10.1 days

Slippage unknown: GMX: no order-book sample; HTX: 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 HTX live order book, 4 min ago	0.01 bp	7.4 bp −$7	11.6 bp −$116	14.8 bp −$1,479	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	4,348.3	+0.096%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.1	−0.093%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,344.6	+0.010%	$3.8M	$12.5M	25x	as long as short
Bluefin GOLD-PERP	+0.0011%	1h	4,337.5	−0.154%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.1	−0.093%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.145%	$619	$54	52x	as long as short
Bybit XAUUSDT	+0.0039%	4h	4,344.8	+0.015%	$79.9M	$152.1M	150x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,340.6	−0.081%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.1	+0.022%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,343.7	−0.010%	$5.6M	$2.1M	20x	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	4,376.7	+0.750%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340.7	−0.079%	$293.6M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.2	−0.068%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,342.2	−0.045%	$4.3M	$37.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.1	−0.023%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.3	−0.111%	$2.1M	$4.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,343.8	−0.007%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,345.5	+0.032%	$20.2M	$40.1M	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,345.4	+0.030%	$268.3M	$418.2M	100x	as long as short
Aster XAUUSD1	+0.0095%	4h	4,345.5	+0.031%	$71.5M	$331.7M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,340.2	−0.090%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.8	−0.076%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0107%	4h	4,343.1	−0.025%	$48.4M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.3	−0.019%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,344.1	0.000%	$371.5M	$320.9M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,344	−0.003%	$418.4M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.9	−0.074%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0136%	4h	4,340.1	−0.093%	$30.2M	$58.3M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0165%	1h	4,342.4	−0.040%	$205K	$825K	25x	as long as short
Phemex XAUUSDT	+0.0170%	4h	4,346.7	+0.058%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0172%	4h	4,344.3	+0.004%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0209%	1h	4,343.6	−0.012%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0210%	1h	4,344.1	0.000%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.5	−0.084%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0270%	4h	4,344.8	+0.015%	$71.1M	$109.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0327%	8h	4,344.7	+0.013%	$167.1M	$282.6M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,344.1	−0.001%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0427% / S −0.0252%	1h	4,344.1	long leg	$250K	—	111x
HTX XAU-USDTshort	+0.0501%	4h	4,346.8	+0.061%	$2.8M	$4.6M	75x