Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.006%

Price spread now: Gate against Injective+0.155%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 0.155% dearer against Injective than usual: you sell high and buy low (spread +0.155% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAU/USDC PERP	4,350.4	0.0033	pay 0.0004% / 1h	29m 24s	$619	$54	52x
Short	Gate XAU_USDT	4,357.2	0	get 0.0000% / 4h	1h 29m	$271.1M	$408.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +0.155%Rate

Funding earned: −$7
Price spread: +0.155% → 0.000%: $15.49
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$6.53
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 5 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	8.6 bp −$86	12.7 bp −$1,271	14.2 bp −$7,119

Injective: 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 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	+0.073%	$601K	$141K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.6	+0.142%	$71.4M	$234.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.9	+0.126%	$409.5M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.7	+0.144%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.9	+0.126%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDTshort	0.0000%	4h	4,357.2	+0.155%	$271.1M	$408.9M	100x
MEXC XAU_USDT	0.0000%	4h	4,356	+0.128%	$376.8M	$351.5M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,356.2	+0.132%	$66.9M	$110.6M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,353.8	+0.078%	$48.0M	$31.7M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.1	+0.107%	$1.4M	$3.2M	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	4,353.2	+0.064%	$4.0M	$34.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.219%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.1	+0.060%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,355.7	+0.121%	$5.6M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,349.4	−0.024%	$30.3M	$58.4M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0013%	1h	4,351.9	+0.034%	$292.9M	$53.0M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,355.2	+0.110%	$21.0M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,357.3	+0.158%	$20.2M	$41.9M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.9	+0.057%	$13.0M	$49.4M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,350.8	+0.009%	$33K	—	25x	as long as short
Injective XAU/USDC PERPlong	+0.0033%	1h	4,350.4	long leg	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,354.5	+0.094%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.3	+0.917%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0049%	1h	4,354.6	+0.096%	$221K	$785K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,355.9	+0.126%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.1	+0.040%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.4	+0.114%	$19K	$6K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.9	+0.104%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0084%	4h	4,358.7	+0.191%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0095%	1h	4,356	+0.128%	$59K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.6	+0.051%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.8	+0.032%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.4	−0.047%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.8	+0.032%	$48K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0155%	8h	4,356.8	+0.147%	$158.8M	$267.2M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	+0.057%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,356	+0.127%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0314%	4h	4,359	+0.196%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,356	+0.128%	$251K	—	29x	as long as short