Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.012%

Price spread now: Hotstuff against GRVT−0.054%57s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.054% cheaper against GRVT than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 13 days of funding at the current rate ($0 a day). The two prices were read 57 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	4,322.2	0.0082	pay 0.0041% / 4h	1h 31m	$1.4M	$3.0M	25x
Short	Hotstuff GOLD-PERP	4,319.9	0.0096	get 0.0012% / 1h	31m 58s	$32K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.054%Rate

Funding earned: $2.94
Price spread: −0.054% → 0.000%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$16.42
Costs to cover: 0.140%
Break-even: 46.1 days

Slippage unknown: GRVT: live order book, 2 min ago; Hotstuff: no order-book sample. 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 GRVT live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.6 bp −$46	101.8 bp −$10.2K	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	−0.0096%	1h	4,316.9	−0.123%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.7	+0.104%	$92K	$7.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.5	−0.064%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0003%	4h	4,324.2	+0.045%	$77.4M	$155.1M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.653%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.4	+0.027%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322	−0.005%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.6	+0.772%	—	$1.0M	25x	as long as short
Extended XAU-USD	+0.0048%	1h	4,319.4	−0.065%	$12.9M	$36.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.9	−0.054%	$291.5M	$51.5M	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	4,318.9	−0.076%	$15.0M	$55.6M	25x	as long as short
Lighter XAU	+0.0064%	1h	4,322.8	+0.014%	$20.3M	$30.5M	25x	as long as short
Aster XAUUSD1	+0.0068%	4h	4,325.1	+0.068%	$72.5M	$278.2M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,321.5	−0.017%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0074%	8h	4,322.2	+0.001%	$2K	$13K	5x	as long as short
Kalshi KXGOLDPERP	+0.0075%	24h	4,324.5	+0.053%	$3.8M	$43.6M	15x	as long as short
GRVT XAU_USDT_Perplong	+0.0082%	4h	4,322.2	long leg	$1.4M	$3.0M	25x
Variational Omni XAU	+0.0092%	4h	4,321.3	−0.020%	$47.3M	$28.9M	—	as long as short
Hotstuff GOLD-PERPshort	+0.0096%	1h	4,319.9	−0.054%	$32K	—	25x
Gate XAU_USDT	+0.0096%	4h	4,325.6	+0.079%	$282.6M	$415.7M	100x	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,323.6	+0.032%	$364.7M	$330.4M	1000x	as long as short
Binance XAUUSDT	+0.0097%	4h	4,323.3	+0.025%	$416.4M	$2.13B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.2	−0.047%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.4	−0.066%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,318.3	−0.091%	$272K	$208K	50x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,316.8	−0.126%	$30.0M	$61.1M	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,325.4	+0.074%	$19.8M	$38.7M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322.5	+0.006%	$160K	$87	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.3	−0.045%	$584K	$134K	25x	as long as short
Bullet GOLD-USD	+0.0177%	1h	4,323.3	+0.025%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,325.7	+0.081%	$4.2M	$12.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0209%	1h	4,323	+0.018%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0228%	4h	4,323.3	+0.025%	$67.8M	$118.5M	100x	as long as short
HTX XAU-USDT	+0.0236%	4h	4,328	+0.133%	$2.8M	$4.9M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0282%	1h	4,322.3	+0.002%	$192K	$834K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0309%	8h	4,324.1	+0.044%	$171.3M	$297.7M	100x	as long as short
BloFin XAU-USDT	+0.0337%	4h	4,324.1	+0.044%	$16.1M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0344%	4h	4,324.6	+0.055%	$2.2M	$967K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,323.3	+0.025%	$252K	—	111x	as long as short