Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0068%/8h= +7.5% APRpaid last 24h +0.014%

Price spread now: Binance against Lighter+0.015%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$110.109% of the position

Long on Lighter Short on Binance

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+0.007%+$1 · spread now +0.015%, 7d avg +0.055%

Together, before fees+0.013%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.039% cheaper against Lighter than usual: you would sell low and buy high (spread +0.015% now, against its 7-day average of +0.055%). If the spread goes back, that is −$4 on $10k: about 46 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.006% in total) that is about 45 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,340.1	0.0048	pay 0.0006% / 1h	24m 51s	$20.7M	$34.6M	25x
Short	Binance XAUUSDT	4,340.8	0.0116	get 0.0058% / 4h	3h 24m	$417.7M	$2.09B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.015%Rate

Funding earned: $14.37
Price spread: +0.015% → +0.055%: −$3.94
Slippage, 4 orders: −$0.9
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$0.47
Costs to cover: 0.109%
Break-even: 7.2 days

Slippage from Lighter: live order book, 4 min ago; Binance: 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 Lighter live order book, 4 min ago	0.28 bp	0.3 bp $0	2.2 bp −$22	8.2 bp −$825	18.4 bp −$9,219
Sell Binance live order book, 4 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	7.2 bp −$717	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
SunX XAU-USDT	0.0000%	4h	4,345.6	+0.127%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,337.2	−0.068%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,341.5	+0.031%	$3.8M	$12.4M	25x	as long as short
Bybit XAUUSDT	+0.0022%	4h	4,341.5	+0.032%	$79.9M	$152.1M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.8	−0.076%	$13.3M	$37.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.237%	$619	$54	52x	as long as short
Bluefin GOLD-PERP	+0.0037%	1h	4,335.5	−0.106%	$25K	$14K	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.6	+0.034%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	+0.004%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.8	+0.776%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAUlong	+0.0048%	1h	4,340.1	long leg	$20.7M	$34.6M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,337.8	−0.054%	$293.4M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.5	−0.039%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339.4	−0.017%	$4.2M	$37.4M	15x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,341	+0.019%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	−0.015%	$2.1M	$4.8M	25x	as long as short
Lighter RH XAU	+0.0064%	1h	4,342.8	+0.060%	$20.2M	$40.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,338	−0.049%	$33K	—	25x	as long as short
Gate XAU_USDT	+0.0082%	4h	4,342.5	+0.054%	$268.9M	$416.8M	100x	as long as short
Aster XAUUSD1	+0.0091%	4h	4,342.5	+0.054%	$71.5M	$332.0M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,337.6	−0.059%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,338.1	−0.048%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,340.5	+0.008%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,340.7	+0.013%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0116%	4h	4,340.8	+0.016%	$371.0M	$320.0M	1000x	as long as short
Binance XAUUSDTshort	+0.0116%	4h	4,340.8	+0.015%	$417.7M	$2.09B	100x
edgeX XAUUSDC	+0.0131%	4h	4,338	−0.049%	$30.2M	$58.1M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.4	−0.040%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0204%	4h	4,341.8	+0.038%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0215%	1h	4,341.2	+0.024%	$4.3M	$1.9M	20x	as long as short
Bullet GOLD-USD	+0.0215%	1h	4,341.5	+0.031%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,339.8	−0.008%	$205K	$827K	25x	as long as short
Phemex XAUUSDT	+0.0257%	4h	4,344.1	+0.092%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.3	−0.041%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0264%	4h	4,341.6	+0.033%	$71.0M	$109.1M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,341.8	+0.038%	$167.0M	$281.9M	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,341.7	+0.037%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,341.4	+0.029%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0594%	4h	4,345.8	+0.129%	$2.8M	$4.6M	75x	as long as short