Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Deribit against GRVT−0.029%75s7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.212% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.711%+$71 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now −0.029%, 7d avg −0.137%

Together, before fees+0.659%+ Points / potential airdropGRVT: Active · farm board+$66 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.108% dearer against GRVT than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.137%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,355.2	0	get 0.0000% / 4h	1h 16m	$1.4M	$3.2M	25x
Short	Deribit GOLD_USDC-PERPETUAL	4,354	0	get 0.0000% / 1h	16m 03s	$235K	$734K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → −0.137%: $10.82
Slippage, 4 orders: −$5.2
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$10.37
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Deribit: live order book, 3 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, 3 min ago	0.01 bp	4.5 bp −$5	4.7 bp −$47	1320.7 bp −$132.1K	doesn't fit
Sell Deribit live order book, 3 min ago	0.12 bp	3.6 bp −$4	4.5 bp −$45	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353.5	−0.040%	$601K	$139K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.9	+0.037%	$71.4M	$234.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.9	+0.014%	$409.7M	$2.08B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.8	+0.035%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.8	+0.013%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.5	+0.052%	$271.9M	$409.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355.8	+0.012%	$378.2M	$352.4M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,356.1	+0.020%	$67.1M	$109.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,355.2	−0.001%	$48.0M	$31.0M	—	as long as short
GRVT XAU_USDT_Perplong	0.0000%	4h	4,355.2	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	4,352.9	−0.054%	$4.0M	$34.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.109%	$93K	$10.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUALshort	0.0000%	1h	4,354	−0.029%	$235K	$734K	25x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.8	−0.056%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,354.8	−0.010%	$5.6M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.9	−0.100%	$30.3M	$58.3M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0018%	1h	4,351.9	−0.077%	$292.8M	$52.9M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,355.3	+0.001%	$21.0M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,357.5	+0.052%	$20.3M	$42.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.8	−0.056%	$13.0M	$49.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.111%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.020%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.2	+0.803%	—	$1.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.6	+0.008%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352	−0.074%	$14.4M	$55.6M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0053%	1h	4,355.8	+0.013%	$4.3M	$1.7M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,355.1	−0.002%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.8	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.7	−0.059%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.5	−0.155%	$26K	$21K	20x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,356.1	+0.020%	$60K	$85K	10x	as long as short
HTX XAU-USDT	+0.0106%	4h	4,358.7	+0.080%	$2.8M	$3.8M	75x	as long as short
Phoenix GOLD	+0.0109%	1h	4,352.2	−0.070%	$48K	$65K	25x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,351.9	−0.077%	$33K	—	25x	as long as short
OKX XAU-USDT-SWAP	+0.0157%	8h	4,357	+0.040%	$158.9M	$266.9M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,353	−0.051%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,355.8	+0.013%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0311%	4h	4,358.1	+0.066%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.8	+0.012%	$251K	—	111x	as long as short