Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h +0.005%

Price spread now: Injective against GRVT−0.314%7-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 Injective

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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.314% cheaper against GRVT than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,364.1	0.0158	pay 0.0079% / 4h	3h 34m	$1.4M	$3.1M	25x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	34m 00s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.314%Rate

Funding earned: −$26.18
Price spread: −0.314% → 0.000%: −$31.43
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$66.63
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 min ago; Injective: 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, 5 min ago	0.01 bp	5.9 bp −$6	6.7 bp −$67	19732.2 bp −$1.97M	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Aster XAUUSD1	0.0000%	4h	4,363.6	−0.013%	$71.1M	$201.0M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,364.4	+0.007%	$265.5M	$414.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.3	+0.027%	$48.6M	$27.5M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,361.7	−0.056%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,369.6	+0.124%	$93K	$10.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,360.9	−0.074%	$267K	—	250x	as long as short
MEXC XAU_USDT	+0.0004%	4h	4,363.5	−0.015%	$373.5M	$325.1M	1000x	as long as short
edgeX XAUUSDC	+0.0004%	4h	4,358.8	−0.122%	$30.3M	$60.3M	50x	as long as short
Binance XAUUSDT	+0.0007%	4h	4,363.2	−0.021%	$410.6M	$2.15B	100x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	−0.314%	$619	$54	52x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	+0.0034%	4h	4,363.7	−0.010%	$69.6M	$113.4M	100x	as long as short
StandX XAU-USD	+0.0040%	1h	4,365.8	+0.038%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,364.8	+0.015%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.2	+0.803%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,365.4	+0.030%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.8	−0.076%	$294.0M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.4	−0.085%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,362.9	−0.028%	$48K	$64K	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,362	−0.049%	$33K	—	25x	as long as short
Lighter XAU	+0.0072%	1h	4,362.8	−0.031%	$20.6M	$43.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,365	+0.020%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.3	+0.004%	$162K	$87	10x	as long as short
BloFin XAU-USDT	+0.0082%	4h	4,365.4	+0.028%	$15.6M	$4.6M	100x	as long as short
Bybit XAUUSDT	+0.0088%	4h	4,363.9	−0.005%	$82.7M	$143.5M	150x	as long as short
Lighter RH XAU	+0.0096%	1h	4,365.3	+0.027%	$20.2M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,363.4	−0.017%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,361.5	−0.062%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,360.4	−0.085%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0128%	1h	4,364.6	+0.011%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0136%	1h	4,359.3	−0.111%	$13.5M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perplong	+0.0158%	4h	4,364.1	long leg	$1.4M	$3.1M	25x
OKX XAU-USDT-SWAP	+0.0189%	8h	4,365.1	+0.022%	$165.6M	$286.5M	100x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,365.3	+0.027%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,362	−0.050%	$595K	$150K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,362.9	−0.028%	$235K	$656K	25x	as long as short
Bluefin GOLD-PERP	+0.0385%	1h	4,357.5	−0.153%	$26K	$22K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,365.1	+0.023%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0555%	4h	4,367.3	+0.072%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0653%	4h	4,369.7	+0.127%	$2.9M	$3.9M	75x	as long as short