Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.016%

Price spread now: Lighter against GRVT−0.014%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$110.106% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 7 days−0.041%−$4 · spread now −0.014%, 7d avg −0.061%

Together, before fees−0.023%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.047% dearer against GRVT than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.061%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,354	0.0136	pay 0.0068% / 4h	1h 55m	$1.4M	$3.0M	25x
Short	Lighter XAU	4,353.5	0.0032	get 0.0004% / 1h	55m 14s	$20.6M	$41.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$21.84
Price spread: −0.014% → −0.061%: $4.74
Slippage, 4 orders: −$1.57
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$27.68
Costs to cover: 0.106%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Lighter: live order book, 9 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	5.0 bp −$50	35.4 bp −$3,543	doesn't fit
Sell Lighter live order book, 9 min ago	0.64 bp	0.9 bp −$1	2.0 bp −$20	7.8 bp −$781	20.0 bp −$10.0K

XAU on 38 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	−0.0165%	1h	4,346.1	−0.182%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,353.7	−0.008%	$262.1M	$404.6M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,356.3	+0.051%	$93K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,348.4	−0.130%	$269K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,352.3	−0.039%	$3.4M	$12.4M	25x	as long as short
Lighter XAUshort	+0.0032%	1h	4,353.5	−0.014%	$20.6M	$41.7M	25x
Extended XAU-USD	+0.0032%	1h	4,348.1	−0.136%	$13.5M	$41.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.083%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0036%	24h	4,350.7	−0.077%	$4.1M	$36.2M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,353.6	−0.010%	$3.8M	$4.6M	40x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,386	+0.734%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,352.3	−0.040%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,349.1	−0.113%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,349	−0.116%	$293.5M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,349.2	−0.110%	$15.1M	$57.9M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,353.5	−0.012%	$70.2M	$327.8M	20x	as long as short
Lighter RH XAU	+0.0064%	1h	4,354.6	+0.012%	$20.1M	$39.3M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,349.1	−0.113%	$33K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,352.6	−0.033%	$19K	$5K	5x	as long as short
Polymarket Perps GOLD-USD	+0.0091%	1h	4,351.6	−0.056%	$4.3M	$1.9M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,349.2	−0.111%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.3	−0.062%	$275K	$204K	50x	as long as short
Variational Omni XAU	+0.0107%	4h	4,352.3	−0.041%	$48.3M	$28.1M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,351.7	−0.053%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,353.2	−0.020%	$372.6M	$315.3M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,354	0.000%	$410.9M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0120%	4h	4,348.3	−0.131%	$30.3M	$58.6M	50x	as long as short
Phoenix GOLD	+0.0121%	1h	4,351	−0.070%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perplong	+0.0136%	4h	4,354	long leg	$1.4M	$3.0M	25x
Bullet GOLD-USD	+0.0187%	1h	4,352.4	−0.037%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0201%	4h	4,355.7	+0.039%	$84.0M	$144.8M	150x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,352.4	−0.037%	$69.6M	$109.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,350.3	−0.086%	$260K	$700K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0248%	8h	4,355.2	+0.027%	$164.5M	$281.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,349.5	−0.103%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0331%	4h	4,355.7	+0.037%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0397% / S −0.0205%	1h	4,352.4	−0.037%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0613%	4h	4,357.7	+0.083%	$2.8M	$4.2M	75x	as long as short