Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.010%

Price spread now: Pacifica against GRVT−0.056%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on GRVT Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days−0.089%−$9 · spread now −0.056%, 7d avg −0.108%

Together, before fees−0.110%+ Points / potential airdropGRVT: Active · Pacifica: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Pacifica is 0.053% dearer against GRVT than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,355.1	0	get 0.0000% / 4h	1h 29m	$1.4M	$3.2M	25x
Short	Pacifica XAU	4,352.6	0.0100	get 0.0013% / 1h	29m 16s	$1.4M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.056%Rate

Funding earned: $21
Price spread: −0.056% → −0.108%: $5.28
Slippage, 4 orders: −$1.41
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $7.87
Costs to cover: 0.184%
Break-even: 4.4 days

Slippage from GRVT: live order book, 5 min ago; Pacifica: live order book, 5 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, 5 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	6.4 bp −$640	doesn't fit
Sell Pacifica live order book, 5 min ago	0.12 bp	4.8 bp −$5	doesn't fit	doesn't fit	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353.6	−0.034%	$601K	$141K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.6	+0.036%	$71.4M	$234.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.9	+0.019%	$409.5M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.7	+0.037%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.9	+0.020%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.2	+0.048%	$271.1M	$408.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,356	+0.022%	$376.8M	$351.5M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,356.2	+0.026%	$66.9M	$110.6M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,353.8	−0.028%	$48.0M	$31.7M	—	as long as short
GRVT XAU_USDT_Perplong	0.0000%	4h	4,355.1	long leg	$1.4M	$3.2M	25x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,353.2	−0.043%	$4.0M	$34.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.113%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.1	−0.046%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,355.7	+0.015%	$5.6M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,349.4	−0.130%	$30.3M	$58.4M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0013%	1h	4,351.9	−0.073%	$292.9M	$53.0M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,355.2	+0.004%	$21.0M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,357.3	+0.051%	$20.2M	$41.9M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.9	−0.049%	$13.0M	$49.4M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,350.8	−0.098%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.107%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,354.5	−0.013%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.3	+0.809%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0049%	1h	4,354.6	−0.011%	$221K	$785K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,355.9	+0.019%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.1	−0.067%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.4	+0.007%	$19K	$6K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.9	−0.003%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0084%	4h	4,358.7	+0.084%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0095%	1h	4,356	+0.021%	$59K	$85K	10x	as long as short
Pacifica XAUshort	+0.0100%	1h	4,352.6	−0.056%	$1.4M	$1.2M	10x
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.8	−0.074%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.4	−0.153%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.8	−0.075%	$48K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0155%	8h	4,356.8	+0.040%	$158.8M	$267.2M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	−0.050%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,356	+0.021%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0314%	4h	4,359	+0.089%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,356	+0.021%	$251K	—	29x	as long as short