Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.028%

Price spread now: edgeX against Lighter−0.096%7-day average −0.052% · you buy dearer than you sell

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

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

costs, in and out, $10k−$110.111% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 7 days+0.106%+$11 · spread now −0.096%, 7d avg −0.052%

Together, before fees+0.142%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.044% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.052%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,350.7	0.0032	pay 0.0004% / 1h	49m 32s	$20.8M	$43.3M	25x
Short	edgeX XAUUSDC	4,346.6	0.0014	get 0.0007% / 4h	1h 49m	$30.3M	$58.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$3.84
Price spread: −0.096% → −0.052%: −$4.38
Slippage, 4 orders: −$2.13
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$19.35
Costs to cover: 0.111%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; edgeX: live order book, 5 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	0.44 bp	0.8 bp −$1	2.0 bp −$20	7.4 bp −$736	17.3 bp −$8,648
Sell edgeX live order book, 5 min ago	0.34 bp	4.8 bp −$5	5.0 bp −$50	8.3 bp −$826	37.7 bp −$18.8K

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	4,350.1	−0.015%	$600K	$160K	25x	as long as short
tradeXYZ xyz:GOLD	−0.0077%	1h	4,348.2	−0.058%	$292.8M	$53.5M	25x	as long as short
Bluefin GOLD-PERP	−0.0037%	1h	4,346.5	−0.096%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0008%	1h	4,347.8	−0.067%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,352.8	+0.046%	$71.3M	$238.7M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,352.6	+0.044%	$410.0M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,353.2	+0.057%	$82.5M	$141.8M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,352.8	+0.046%	$3.4M	$12.6M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,353.8	+0.071%	$271.4M	$406.6M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,352.7	+0.045%	$375.8M	$348.9M	1000x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	0.0000%	4h	4,352.5	+0.040%	$67.3M	$110.7M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,351.3	+0.014%	$47.9M	$32.5M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,352.5	+0.040%	$1.4M	$3.2M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,351.5	+0.018%	$3.9M	$33.9M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,357	+0.145%	$93K	$10.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,349.4	−0.031%	$267K	—	10x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,352	+0.029%	$5.5M	$1.9M	20x	as long as short
edgeX XAUUSDCshort	+0.0014%	4h	4,346.6	−0.096%	$30.3M	$58.2M	50x
HTX XAU-USDT	+0.0022%	4h	4,356.8	+0.139%	$2.8M	$3.7M	75x	as long as short
Lighter XAUlong	+0.0032%	1h	4,350.7	long leg	$20.8M	$43.3M	25x
Lighter RH XAU	+0.0032%	1h	4,352.4	+0.037%	$20.2M	$41.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,349.4	−0.032%	$13.0M	$49.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.007%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.9	+0.004%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.8	+0.829%	—	$995K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0049%	1h	4,351.4	+0.015%	$221K	$855K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,351.4	+0.015%	$4.3M	$1.7M	20x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,352.7	+0.044%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,348.9	−0.043%	$14.5M	$55.3M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,352.5	+0.042%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0081%	1h	4,352.7	+0.045%	$59K	$84K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,349.4	−0.031%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.4	−0.077%	$273K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,348.1	−0.060%	$47K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0164%	8h	4,353.1	+0.054%	$158.5M	$268.8M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,349.8	−0.021%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,352.8	+0.048%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0326%	4h	4,354.1	+0.078%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,352.7	+0.045%	$251K	—	29x	as long as short