Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0037%/8h= −4.1% APRpaid last 24h −0.039%

Price spread now: Hotstuff against HTX−0.145%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hotstuff is 0.145% cheaper against HTX than usual: you would sell low and buy high (−$15 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	HTX XAU-USDT	4,349.2	0.0125	pay 0.0063% / 4h	2h 20m	$2.8M	$3.7M	75x
Short	Hotstuff GOLD-PERP	4,342.9	0.0088	get 0.0011% / 1h	20m 31s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against HTX. 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 HTXbpFee HotstuffbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$7.81
Price spread: −0.145% → 0.000%: −$14.51
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$39.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 3 min ago; Hotstuff: 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 HTX live order book, 3 min ago	0.01 bp	8.3 bp −$8	11.5 bp −$115	18.3 bp −$1,833	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 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	−0.0302%	1h	4,341.7	−0.172%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,346.8	−0.055%	$70.9M	$240.3M	20x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,346.8	−0.054%	$82.9M	$142.9M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,346.8	−0.056%	$272.3M	$411.6M	100x	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,345.7	−0.081%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,343.9	−0.122%	$3.9M	$34.1M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350	+0.019%	$92K	$10.9M	20x	as long as short
Bullet GOLD-USD	+0.0032%	1h	4,345.7	−0.080%	$58K	$83K	10x	as long as short
Lighter XAU	+0.0032%	1h	4,344.8	−0.102%	$20.6M	$46.5M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,347.5	−0.040%	$20.1M	$44.8M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAU-USD	+0.0032%	1h	4,344.7	−0.104%	$13.1M	$50.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.028%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.9	−0.076%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382	+0.754%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.2	−0.138%	$293.0M	$51.7M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,345.4	−0.088%	$4.3M	$2.2M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.3	−0.158%	$14.7M	$52.7M	25x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,345	−0.097%	$5.5M	$1.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,346.2	−0.070%	$19K	$6K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,343.6	−0.129%	$2.0M	$5.2M	25x	as long as short
Binance XAUUSDT	+0.0080%	4h	4,345.6	−0.082%	$412.3M	$2.09B	100x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,345.6	−0.083%	$369.0M	$341.9M	1000x	as long as short
Variational Omni XAU	+0.0086%	4h	4,345.6	−0.083%	$47.8M	$34.2M	—	as long as short
Hotstuff GOLD-PERPshort	+0.0088%	1h	4,342.9	−0.145%	$33K	—	25x
Bitget XAUUSDT	+0.0090%	4h	4,346	−0.074%	$67.3M	$112.7M	100x	as long as short
edgeX XAUUSDC	+0.0100%	4h	4,341.5	−0.177%	$30.2M	$57.5M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.9	−0.123%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344.6	−0.107%	$273K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,345.6	−0.084%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0109%	1h	4,345.1	−0.094%	$47K	$69K	25x	as long as short
HTX XAU-USDTlong	+0.0125%	4h	4,349.2	long leg	$2.8M	$3.7M	75x
RISEx XAU/USDC	+0.0190%	1h	4,345.9	−0.077%	$3.5M	$12.5M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0240%	8h	4,345.8	−0.078%	$157.7M	$271.7M	100x	as long as short
BloFin XAU-USDT	+0.0323%	4h	4,345.8	−0.080%	$14.7M	$4.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,343.3	−0.135%	$587K	$114K	25x	as long as short
Phemex XAUUSDT	+0.0383%	4h	4,348.7	−0.012%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0495% / S −0.0311%	1h	4,345.7	−0.080%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0672%	1h	4,343.2	−0.138%	$221K	$893K	25x	as long as short