Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.024%

Price spread now: Lighter RH against GRVT−0.004%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$110.109% of the position

Long on GRVT Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days−0.065%−$6 · spread now −0.004%, 7d avg −0.032%

Together, before fees−0.113%+ Points / potential airdropGRVT: Active · Lighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.027% dearer against GRVT than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,373.1	0	get 0.0000% / 4h	17m 35s	$1.4M	$3.1M	25x
Short	Lighter RH XAU	4,372.9	0.0048	get 0.0006% / 1h	17m 35s	$20.2M	$42.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.004%Rate

Funding earned: $10.08
Price spread: −0.004% → −0.032%: $2.74
Slippage, 4 orders: −$1.94
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $1.88
Costs to cover: 0.109%
Break-even: 5.7 days

Slippage from GRVT: live order book, 1 min ago; Lighter RH: live order book, 6 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, 1 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	23.1 bp −$2,307	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.93 bp	0.9 bp −$1	1.5 bp −$15	5.6 bp −$564	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
Bluefin GOLD-PERP	−0.0223%	1h	4,366	−0.162%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.7	−0.214%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,372.7	−0.010%	$71.7M	$225.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,371.1	−0.046%	$410.6M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,371.2	−0.043%	$82.6M	$142.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371.4	−0.038%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.7	−0.031%	$267.5M	$417.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,371.3	−0.041%	$375.5M	$324.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.7	−0.054%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.6	−0.149%	$48.5M	$30.2M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perplong	0.0000%	4h	4,373.1	long leg	$1.4M	$3.1M	25x
Kalshi KXGOLDPERP	0.0000%	24h	4,370.5	−0.059%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,378	+0.113%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,370.1	−0.067%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,362.7	−0.236%	$30.3M	$59.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,367.4	−0.130%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,369.3	−0.086%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.518%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,370.2	−0.066%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,369.2	−0.089%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.5	+0.741%	—	$1.0M	25x	as long as short
Lighter RH XAUshort	+0.0048%	1h	4,372.9	−0.004%	$20.2M	$42.2M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.5	−0.128%	$294.0M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367.6	−0.125%	$14.6M	$56.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,371	−0.047%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,367.5	−0.127%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,373.1	0.000%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.8	−0.121%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.8	−0.099%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0103%	1h	4,370.8	−0.052%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0106%	1h	4,373.6	+0.011%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	−0.068%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,372.1	−0.022%	$158.6M	$275.4M	100x	as long as short
HTX XAU-USDT	+0.0174%	4h	4,378.5	+0.123%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0208%	1h	4,372.1	−0.022%	$236K	$736K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,371.2	−0.044%	$603K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,369.5	−0.082%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0308%	4h	4,372.3	−0.017%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,373.6	+0.012%	$252K	—	111x	as long as short