Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0369%/8h= −40.4% APRpaid last 24h −0.075%

Price spread now: Variational Omni against GMX+0.059%7-day average −0.017% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.322%−$32 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.059%, 7d avg −0.017%

Together, before fees−0.409%+ Points / potential airdropVariational Omni: Active · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.075% dearer against GMX than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.017%): +$8 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX GOLD/USD [ETH-USDC]	4,320	L +0.0462% / S −0.0307%	pay 0.0058% / 1h	3m 26s	$252K	—	111x
Short	Variational Omni XAU	4,322.6	0.0093	get 0.0047% / 4h	1h 03m	$47.2M	$29.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.059%Rate

Funding earned: −$77.39
Price spread: +0.059% → −0.017%: $7.54
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$81.85
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	1.54 bp	doesn't fit	1.6 bp −$16	3.3 bp −$325	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
Bluefin GOLD-PERP	−0.0037%	1h	4,314.9	−0.119%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,325.9	+0.135%	$92K	$7.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,316.8	−0.076%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0024%	4h	4,320.7	+0.016%	$76.9M	$154.2M	150x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,317.6	−0.057%	$32K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.703%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,322.4	+0.055%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,319.6	−0.010%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,352.6	+0.754%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,316.5	−0.082%	$291.3M	$51.3M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,316.2	−0.089%	$15.0M	$55.7M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,321.4	+0.031%	$72.6M	$273.5M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,319	−0.023%	$20.3M	$30.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.3	+0.006%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0076%	8h	4,319.4	−0.016%	$2K	$14K	5x	as long as short
Kalshi KXGOLDPERP	+0.0083%	24h	4,322.5	+0.057%	$3.8M	$44.1M	15x	as long as short
Variational Omni XAUshort	+0.0093%	4h	4,322.6	+0.059%	$47.2M	$29.1M	—
GRVT XAU_USDT_Perp	+0.0094%	4h	4,322.1	+0.047%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,320.4	+0.008%	$364.3M	$336.4M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,320	0.000%	$423.2M	$2.14B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.6	+0.013%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,317	−0.070%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,320.4	+0.008%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,319.9	−0.004%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,321.3	+0.029%	$279.2M	$426.1M	100x	as long as short
Lighter RH XAU	+0.0112%	1h	4,321.4	+0.032%	$20.0M	$39.5M	25x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,319.2	−0.019%	$30.1M	$59.9M	50x	as long as short
Extended XAU-USD	+0.0128%	1h	4,316.1	−0.091%	$12.9M	$36.5M	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,318.5	−0.037%	$577K	$136K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,322.6	+0.060%	$4.0M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,321.2	+0.027%	$59K	$82K	10x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,320.4	+0.007%	$67.5M	$118.6M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,320.4	+0.008%	$4.3M	$2.0M	20x	as long as short
OKX XAU-USDT-SWAP	+0.0297%	8h	4,321.3	+0.029%	$173.2M	$300.9M	100x	as long as short
HTX XAU-USDT	+0.0311%	4h	4,327.6	+0.175%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDT	+0.0336%	4h	4,324.5	+0.103%	$2.2M	$976K	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,322.3	+0.052%	$16.3M	$4.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0352%	1h	4,319.9	−0.003%	$190K	$840K	25x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0462% / S −0.0307%	1h	4,320	long leg	$252K	—	111x