Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h +0.009%

Price spread now: GRVT against Lighter+0.072%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$90.095% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.072%, 7d avg +0.061%

Together, before fees−0.016%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,347	0.0048	pay 0.0006% / 1h	7m 32s	$20.6M	$42.6M	25x
Short	GRVT XAU_USDT_Perp	4,350.1	0.0054	get 0.0027% / 4h	1h 07m	$1.4M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.072%Rate

Funding earned: $1.26
Price spread: +0.072% → +0.061%: $1.12
Slippage, 4 orders: −$0.5
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$7.12
Costs to cover: 0.095%
Break-even: 46.6 days

Slippage from Lighter: live order book, 6 min ago; GRVT: live order book, 1 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, 6 min ago	0.19 bp	0.2 bp $0	1.2 bp −$12	5.6 bp −$556	17.9 bp −$8,974
Sell GRVT live order book, 1 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	6.4 bp −$641	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
Gate XAU_USDT	0.0000%	4h	4,349.8	+0.064%	$264.3M	$416.9M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.9	+0.183%	$93K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.7	−0.007%	$267K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.6	+0.014%	$3.4M	$12.4M	25x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,345.9	−0.025%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344.2	−0.063%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.079%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.3	+0.100%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0040%	4h	4,348.2	+0.029%	$70.8M	$334.0M	20x	as long as short
Kalshi KXGOLDPERP	+0.0040%	24h	4,348.5	+0.035%	$4.1M	$37.1M	15x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,381.3	+0.790%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,347.4	+0.010%	$5.7M	$2.0M	20x	as long as short
Lighter XAUlong	+0.0048%	1h	4,347	long leg	$20.6M	$42.6M	25x
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,347.5	+0.012%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.7	−0.029%	$293.9M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.3	−0.063%	$15.1M	$56.7M	25x	as long as short
Variational Omni XAU	+0.0053%	4h	4,347.3	+0.008%	$48.5M	$27.8M	—	as long as short
GRVT XAU_USDT_Perpshort	+0.0054%	4h	4,350.1	+0.072%	$1.4M	$2.9M	25x
Lighter RH XAU	+0.0056%	1h	4,349.6	+0.059%	$20.1M	$39.9M	25x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,347.9	+0.021%	$371.0M	$320.5M	1000x	as long as short
Binance XAUUSDT	+0.0073%	4h	4,347.6	+0.015%	$410.5M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,348.3	+0.030%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0081%	4h	4,345.3	−0.039%	$30.3M	$58.5M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0095%	1h	4,348.1	+0.026%	$254K	$752K	25x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,349.6	+0.060%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.6	−0.055%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	+0.001%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,347.2	+0.005%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,348.6	+0.037%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0186%	4h	4,353.7	+0.154%	$2.2M	$1.1M	100x	as long as short
Bullet GOLD-USD	+0.0191%	1h	4,350.8	+0.089%	$60K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0204%	4h	4,349.3	+0.053%	$84.4M	$145.5M	150x	as long as short
Bitget XAUUSDT	+0.0214%	4h	4,348	+0.024%	$70.2M	$109.5M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0259%	8h	4,348.8	+0.042%	$165.3M	$283.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,347.6	+0.015%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0291%	4h	4,350.1	+0.072%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0405% / S −0.0219%	1h	4,350.9	+0.089%	$248K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0473%	1h	4,344.3	−0.061%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0585%	4h	4,356	+0.208%	$2.9M	$4.2M	75x	as long as short