Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h +0.009%

Price spread now: tradeXYZ against GRVT−0.126%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.126%, 7d avg −0.099%

Together, before fees+0.062%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and tradeXYZ is 0.027% cheaper against GRVT than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.099%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAU_USDT_Perp	4,361.1	0.0152	pay 0.0076% / 4h	3h 21m	$1.4M	$3.1M	25x
Short	tradeXYZ xyz:GOLD	4,355.6	0.0050	get 0.0006% / 1h	21m 34s	$293.7M	$51.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$21.42
Price spread: −0.126% → −0.099%: −$2.71
Slippage, 4 orders: −$0.31
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$51.45
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; tradeXYZ: 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, 2 min ago	0.01 bp	4.6 bp −$5	4.6 bp −$46	252.3 bp −$25.2K	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.12 bp	9.1 bp −$9	9.8 bp −$98	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
Aster XAUUSD1	0.0000%	4h	4,359.3	−0.040%	$71.0M	$200.7M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,360.9	−0.005%	$266.2M	$417.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,356.2	−0.112%	$4.0M	$36.7M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,364.2	+0.070%	$93K	$10.2M	20x	as long as short
Variational Omni XAU	0.0000%	4h	4,360.4	−0.015%	$47.8M	$28.1M	—	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,355.1	−0.137%	$267K	—	250x	as long as short
MEXC XAU_USDT	+0.0022%	4h	4,359.5	−0.036%	$373.8M	$328.3M	1000x	as long as short
Binance XAUUSDT	+0.0025%	4h	4,359.7	−0.031%	$411.6M	$2.15B	100x	as long as short
edgeX XAUUSDC	+0.0027%	4h	4,352.7	−0.191%	$30.3M	$60.4M	50x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,355.7	−0.124%	$33K	—	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.245%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,360.1	−0.023%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,358.9	−0.050%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,393.7	+0.748%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,359.7	−0.032%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLDshort	+0.0050%	1h	4,355.6	−0.126%	$293.7M	$51.5M	25x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.7	−0.146%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,357.5	−0.082%	$48K	$64K	25x	as long as short
Bitget XAUUSDT	+0.0062%	4h	4,359.8	−0.030%	$69.1M	$113.9M	100x	as long as short
Lighter XAU	+0.0072%	1h	4,358.5	−0.060%	$20.6M	$44.1M	25x	as long as short
Extended XAU-USD	+0.0072%	1h	4,355.2	−0.136%	$13.5M	$43.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,359	−0.048%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,358.2	−0.066%	$161K	$87	10x	as long as short
BloFin XAU-USDT	+0.0091%	4h	4,361.9	+0.018%	$15.5M	$4.5M	100x	as long as short
Lighter RH XAU	+0.0096%	1h	4,360.2	−0.021%	$20.2M	$41.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,354.3	−0.156%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,356.5	−0.105%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,358.2	−0.068%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,352.6	−0.196%	$26K	$22K	20x	as long as short
Bybit XAUUSDT	+0.0112%	4h	4,360.9	−0.005%	$83.5M	$144.4M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0119%	1h	4,359	−0.048%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perplong	+0.0152%	4h	4,361.1	long leg	$1.4M	$3.1M	25x
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,356.9	−0.096%	$235K	$656K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0199%	8h	4,360.8	−0.007%	$163.8M	$289.4M	100x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,359.5	−0.037%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,356.2	−0.111%	$594K	$151K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,359	−0.048%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0457%	4h	4,361.7	+0.014%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0568%	4h	4,364	+0.067%	$2.9M	$3.9M	75x	as long as short