Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.002%

Price spread now: Coinbase International against GRVT−0.118%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.118%, 7d avg −0.104%

Together, before fees+0.421%+ Points / potential airdropGRVT: Active · farm board+$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.104%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.373%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,322.1	0.0094	pay 0.0047% / 4h	1h 02m	$1.4M	$3.0M	25x
Short	Coinbase International GOLD-PERP-INTX	4,317	0.0072	get 0.0009% / 1h	2m 28s	$2.1M	$4.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$4.62
Price spread: −0.118% → −0.104%: −$1.35
Slippage, 4 orders: −$2.61
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$27.58
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from GRVT: live order book, 1 min ago; Coinbase International: live order book, 1 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, 1 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	2895.0 bp −$289.5K	doesn't fit
Sell Coinbase International live order book, 1 min ago	0.12 bp	5.1 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit

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	−0.166%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,324.7	+0.059%	$92K	$7.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.7	−0.079%	$270K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,318.3	−0.088%	$32K	—	25x	as long as short
Bybit XAUUSDT	+0.0026%	4h	4,323.7	+0.038%	$77.0M	$154.2M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.656%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,322.4	+0.007%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,321.4	−0.016%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.5	+0.750%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,318.6	−0.081%	$291.3M	$51.6M	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	4,318.6	−0.080%	$15.0M	$55.7M	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,324.1	+0.048%	$72.7M	$273.1M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,321.1	−0.023%	$20.3M	$30.8M	25x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0072%	1h	4,317	−0.118%	$2.1M	$4.9M	25x
Paradex XAU-USD-PERP	+0.0076%	8h	4,321.1	−0.023%	$2K	$14K	5x	as long as short
Kalshi KXGOLDPERP	+0.0083%	24h	4,320.7	−0.032%	$3.8M	$44.2M	15x	as long as short
Variational Omni XAU	+0.0093%	4h	4,322.6	+0.012%	$47.2M	$29.1M	—	as long as short
GRVT XAU_USDT_Perplong	+0.0094%	4h	4,322.1	long leg	$1.4M	$3.0M	25x
MEXC XAU_USDT	+0.0098%	4h	4,322.9	+0.019%	$364.6M	$336.5M	1000x	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.6	−0.034%	$47K	$79K	25x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,322.8	+0.017%	$423.5M	$2.14B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,318.7	−0.078%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,320.4	−0.039%	$272K	$208K	50x	as long as short
Gate XAU_USDT	+0.0104%	4h	4,323.6	+0.035%	$279.2M	$426.3M	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,319.9	−0.051%	$160K	$87	10x	as long as short
Lighter RH XAU	+0.0112%	1h	4,323.4	+0.030%	$20.0M	$39.5M	25x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,319.2	−0.066%	$30.1M	$59.9M	50x	as long as short
Extended XAU-USD	+0.0128%	1h	4,317.9	−0.096%	$12.9M	$36.5M	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,317.6	−0.104%	$577K	$136K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,324.8	+0.062%	$4.1M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0188%	1h	4,322.9	+0.019%	$59K	$82K	10x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,322.8	+0.017%	$67.6M	$118.6M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,323	+0.021%	$4.3M	$2.0M	20x	as long as short
OKX XAU-USDT-SWAP	+0.0297%	8h	4,323.2	+0.026%	$173.3M	$301.2M	100x	as long as short
HTX XAU-USDT	+0.0320%	4h	4,326.1	+0.093%	$3.2M	$5.8M	75x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,322.3	+0.005%	$16.3M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0348%	4h	4,324.5	+0.055%	$2.2M	$976K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0375%	1h	4,319.4	−0.062%	$163K	$868K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,323	+0.021%	$252K	—	111x	as long as short