Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.009%

Price spread now: Lighter RH against HTX−0.019%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on HTX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now −0.019%, 7d avg −0.033%

Together, before fees−0.100%+ Points / potential airdropLighter RH: Points live · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,368.1	0.0109	pay 0.0055% / 4h	1h 04m	$2.8M	$3.8M	75x
Short	Lighter RH XAU	4,367.3	0.0032	get 0.0004% / 1h	4m 57s	$20.3M	$42.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$16.21
Price spread: −0.019% → −0.033%: $1.4
Slippage, 4 orders: −$5.42
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$32.22
Costs to cover: 0.174%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Lighter RH: live order book, 4 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 HTX live order book, 4 min ago	0.01 bp	10.2 bp −$10	13.5 bp −$135	17.4 bp −$1,738	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.46 bp	0.5 bp $0	1.8 bp −$18	6.4 bp −$643	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	−0.0174%	1h	4,362.6	−0.127%	$602K	$139K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.5	−0.037%	$71.5M	$233.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.5	−0.061%	$409.8M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366.7	−0.033%	$82.9M	$141.8M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.9	−0.073%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.7	−0.034%	$269.3M	$412.2M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.2	−0.068%	$377.2M	$354.6M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,365.6	−0.058%	$67.4M	$110.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,364.1	−0.091%	$48.5M	$31.2M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,362.8	−0.123%	$1.4M	$3.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,363.3	−0.111%	$4.0M	$34.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,369.2	+0.024%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362.2	−0.137%	$268K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,363.4	−0.109%	$5.6M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0011%	4h	4,358.9	−0.210%	$30.3M	$58.0M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0017%	1h	4,360.9	−0.166%	$293.4M	$52.7M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,365	−0.071%	$20.9M	$44.7M	25x	as long as short
Lighter RH XAUshort	+0.0032%	1h	4,367.3	−0.019%	$20.3M	$42.2M	25x
Extended XAU-USD	+0.0032%	1h	4,362.3	−0.133%	$13.1M	$46.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.406%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.6	−0.104%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.9	+0.727%	—	$1.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,363	−0.118%	$4.3M	$1.7M	20x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,364.7	−0.078%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,361.5	−0.153%	$14.4M	$55.6M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,360.5	−0.175%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.2	−0.090%	$162K	$87	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0094%	1h	4,364.1	−0.092%	$235K	$734K	25x	as long as short
Bullet GOLD-USD	+0.0098%	1h	4,365.1	−0.070%	$60K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,361.9	−0.143%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.6	−0.149%	$274K	$199K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,357.4	−0.246%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,361.7	−0.147%	$48K	$65K	25x	as long as short
HTX XAU-USDTlong	+0.0109%	4h	4,368.1	long leg	$2.8M	$3.8M	75x
OKX XAU-USDT-SWAP	+0.0157%	8h	4,366.7	−0.033%	$158.3M	$270.1M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,360.9	−0.166%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,365	−0.071%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0275%	4h	4,365.1	−0.070%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,365	−0.071%	$252K	—	111x	as long as short