Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0133%/8h= −14.5% APRpaid last 24h −0.007%

Price spread now: gTrade (Gains Network) against GRVT−0.077%7-day average −0.087% · 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−$275as in the Price arb table

costs, in and out, $10k−$2762.761% of the position

Long on GRVT Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now −0.077%, 7d avg −0.087%

Together, before fees−0.003%+ Points / potential airdropGRVT: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.087%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,361.6	0.0136	pay 0.0068% / 4h	3h 05m	$1.4M	$3.1M	25x
Short	gTrade (Gains Network) XAU/USD	4,358.3	L +0.0002% / S −0.0003%	get 0.0000% / 1h	5m 07s	$269K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.077%Rate

Funding earned: −$27.89
Price spread: −0.077% → −0.087%: $0.97
Slippage, 4 orders: −$260.07
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$302.99
Costs to cover: 2.761%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 34 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, 4 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	7.3 bp −$726	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 34 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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
Aster XAUUSD1	0.0000%	4h	4,363.5	+0.044%	$70.3M	$217.1M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.3	+0.039%	$265.1M	$422.6M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360.1	−0.035%	$4.0M	$36.7M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,367.5	+0.134%	$93K	$10.1M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,358.3	−0.077%	$269K	—	250x
Variational Omni XAU	+0.0029%	4h	4,362.2	+0.013%	$48.4M	$28.5M	—	as long as short
Extended XAU-USD	+0.0032%	1h	4,358.4	−0.074%	$13.5M	$43.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.257%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,362.6	+0.022%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,362.7	+0.025%	$5.6M	$1.9M	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	4,396	+0.788%	—	$1.0M	25x	as long as short
MEXC XAU_USDT	+0.0046%	4h	4,362.5	+0.020%	$372.9M	$331.1M	1000x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,363	+0.031%	$3.4M	$12.4M	25x	as long as short
Binance XAUUSDT	+0.0048%	4h	4,362.5	+0.020%	$411.6M	$2.15B	100x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,359	−0.060%	$294.0M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.5	−0.073%	$14.8M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	−0.046%	$48K	$64K	25x	as long as short
edgeX XAUUSDC	+0.0062%	4h	4,356	−0.130%	$30.3M	$60.4M	50x	as long as short
Lighter XAU	+0.0072%	1h	4,361.4	−0.005%	$20.6M	$44.5M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,362.6	+0.022%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0096%	1h	4,363.8	+0.049%	$20.2M	$41.4M	25x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,361.7	+0.001%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,358.8	−0.065%	$2.0M	$5.1M	25x	as long as short
Bitget XAUUSDT	+0.0098%	4h	4,362.8	+0.026%	$69.0M	$112.3M	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,359.6	−0.046%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.9	−0.086%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,355	−0.151%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,359	−0.060%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0119%	1h	4,361.4	−0.005%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perplong	+0.0136%	4h	4,361.6	long leg	$1.4M	$3.1M	25x
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,360.6	−0.023%	$235K	$658K	25x	as long as short
BloFin XAU-USDT	+0.0193%	4h	4,362.7	+0.026%	$15.4M	$4.6M	100x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,363.4	+0.040%	$83.9M	$145.0M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0212%	8h	4,363.6	+0.045%	$164.2M	$288.9M	100x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,362.6	+0.022%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,359.7	−0.045%	$595K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0283%	4h	4,363.8	+0.050%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0393% / S −0.0199%	1h	4,362.6	+0.022%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0555%	4h	4,366.8	+0.118%	$2.9M	$3.9M	75x	as long as short