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 +0.002%

Price spread now: GRVT against Injective+0.111%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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.111% dearer against Injective than usual: you sell high and buy low (spread +0.111% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 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	18m 24s	$619	$54	52x
Short	GRVT XAU_USDT_Perp	4,355.3	0	get 0.0000% / 4h	1h 18m	$1.4M	$3.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$7
Price spread: +0.111% → 0.000%: $11.11
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$4.91
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; GRVT: 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 GRVT live order book, 5 min ago	0.01 bp	4.5 bp −$5	4.9 bp −$49	doesn't fit	doesn't fit

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	4,353.1	+0.061%	$600K	$140K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.5	+0.141%	$71.4M	$234.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.1	+0.108%	$409.5M	$2.08B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.3	+0.136%	$82.6M	$141.1M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.1	+0.109%	$3.5M	$12.4M	25x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,351.1	+0.016%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,356.8	+0.147%	$272.0M	$409.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355.1	+0.108%	$378.6M	$352.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,355.5	+0.116%	$67.1M	$109.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,355.2	+0.110%	$48.0M	$31.0M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perpshort	0.0000%	4h	4,355.3	+0.111%	$1.4M	$3.2M	25x
Kalshi KXGOLDPERP	0.0000%	24h	4,352.7	+0.052%	$4.0M	$34.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,359.5	+0.208%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.2	+0.041%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,355	+0.105%	$5.6M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0003%	1h	4,353.4	+0.068%	$235K	$773K	25x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.9	+0.011%	$30.3M	$58.3M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0017%	1h	4,351.4	+0.023%	$292.8M	$52.9M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,354.6	+0.095%	$21.0M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,356.6	+0.142%	$20.3M	$42.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	+0.033%	$13.0M	$49.3M	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	4,355.4	+0.114%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.7	+0.903%	—	$1.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.1	+0.108%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.4	+0.022%	$14.4M	$55.6M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0051%	1h	4,355	+0.105%	$4.3M	$1.7M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.5	+0.095%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.4	+0.046%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.7	+0.052%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.5	−0.044%	$26K	$21K	20x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,355.1	+0.108%	$60K	$85K	10x	as long as short
HTX XAU-USDT	+0.0102%	4h	4,358.7	+0.191%	$2.8M	$3.8M	75x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.7	+0.029%	$48K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0157%	8h	4,356.6	+0.142%	$158.9M	$266.9M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,351.8	+0.032%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,355.3	+0.111%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0313%	4h	4,358.1	+0.177%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.3	+0.111%	$251K	—	111x	as long as short