Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.032%

Price spread now: Bybit against GRVT+0.006%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.006%, 7d avg +0.012%

Together, before fees−0.015%+ Points / potential airdropGRVT: Active · farm board−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,355.7	0	get 0.0000% / 4h	1h 27m	$1.4M	$3.2M	25x
Short	Bybit XAUUSDT	4,355.9	0	get 0.0000% / 4h	1h 27m	$82.6M	$141.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → +0.012%: −$0.68
Slippage, 4 orders: −$0.09
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$20.77
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Bybit: 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 GRVT live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.9 bp −$49	1808.5 bp −$180.9K	doesn't fit
Sell Bybit live order book, 2 min ago	0.01 bp	5.5 bp −$6	7.0 bp −$70	13.7 bp −$1,370	37.8 bp −$18.9K

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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353	−0.062%	$600K	$141K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356	+0.007%	$71.3M	$234.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.2	−0.012%	$409.6M	$2.09B	100x	as long as short
Bybit XAUUSDTshort	0.0000%	4h	4,355.9	+0.006%	$82.6M	$141.2M	150x
RISEx XAU/USDC	0.0000%	1h	4,355.4	−0.007%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,356.5	+0.019%	$271.1M	$409.1M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355	−0.016%	$376.7M	$351.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,355.2	−0.012%	$67.0M	$110.2M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,353.8	−0.043%	$48.0M	$31.7M	—	as long as short
GRVT XAU_USDT_Perplong	0.0000%	4h	4,355.7	long leg	$1.4M	$3.2M	25x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,352.8	−0.066%	$4.0M	$34.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,359.4	+0.085%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,351.9	−0.088%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,354.9	−0.018%	$5.6M	$1.9M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0009%	1h	4,350.9	−0.110%	$292.8M	$53.0M	25x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.8	−0.113%	$30.3M	$58.3M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,354.5	−0.028%	$21.0M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,356.5	+0.018%	$20.2M	$41.9M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	−0.090%	$13.0M	$49.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.121%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.009%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.6	+0.779%	—	$1.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,354.8	−0.020%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.2	−0.104%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.1	−0.014%	$19K	$6K	5x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,350.9	−0.110%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.5	−0.028%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0085%	4h	4,358.7	+0.070%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0096%	1h	4,355.2	−0.011%	$60K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.3	−0.079%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.054%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.4	−0.168%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,352.6	−0.071%	$48K	$65K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,353.8	−0.043%	$221K	$760K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0156%	8h	4,356.5	+0.019%	$158.9M	$267.3M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	−0.064%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,355.4	−0.006%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0316%	4h	4,358.3	+0.059%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.2	−0.011%	$251K	—	111x	as long as short