XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h +0.017%

Price spread now: Polymarket Perps against Lighter−0.033%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$110.110% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days−0.021%−$2 · spread now −0.033%, 7d avg −0.030%

Together, before fees−0.061%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,354.8	0.0032	pay 0.0004% / 1h	54m 24s	$20.6M	$41.7M	25x
Short	Polymarket Perps GOLD-USD	4,353.4	0.0099	get 0.0012% / 1h	54m 24s	$4.3M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.033%Rate

Funding earned: $14.03
Price spread: −0.033% → −0.030%: −$0.28
Slippage, 4 orders: −$3.01
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $2.74
Costs to cover: 0.110%
Break-even: 5.6 days

Slippage from Lighter: live order book, 9 min ago; Polymarket Perps: 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, 9 min ago	0.64 bp	0.6 bp −$1	1.5 bp −$15	7.6 bp −$761	18.9 bp −$9,427
Sell Polymarket Perps live order book, 5 min ago	0.12 bp	5.3 bp −$5	6.0 bp −$60	6.5 bp −$649	doesn't fit

XAU on 38 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
Bluefin GOLD-PERP	−0.0162%	1h	4,348.3	−0.150%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,355.6	+0.018%	$262.5M	$404.8M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,358.6	+0.086%	$93K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,350.3	−0.104%	$269K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,354.2	−0.014%	$3.4M	$12.4M	25x	as long as short
Lighter XAUlong	+0.0032%	1h	4,354.8	long leg	$20.6M	$41.7M	25x
Extended XAU-USD	+0.0032%	1h	4,350.4	−0.101%	$13.5M	$40.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.101%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0036%	24h	4,350.7	−0.095%	$4.1M	$36.2M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,353.6	−0.028%	$3.8M	$4.6M	40x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,387.7	+0.755%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,353.6	−0.028%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,350.3	−0.104%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,351	−0.088%	$293.7M	$48.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,350.7	−0.095%	$15.1M	$57.9M	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,355.2	+0.009%	$70.2M	$328.0M	20x	as long as short
Lighter RH XAU	+0.0064%	1h	4,357.7	+0.065%	$20.1M	$39.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,355.8	+0.022%	$19K	$5K	5x	as long as short
Polymarket Perps GOLD-USDshort	+0.0099%	1h	4,353.4	−0.033%	$4.3M	$1.9M	20x
Pacifica XAU	+0.0100%	1h	4,352.4	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.3	−0.081%	$275K	$204K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,352.8	−0.047%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0107%	4h	4,352.3	−0.059%	$48.3M	$28.1M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,354	−0.019%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,354.4	−0.011%	$372.5M	$315.3M	1000x	as long as short
edgeX XAUUSDC	+0.0120%	4h	4,348.3	−0.150%	$30.3M	$58.6M	50x	as long as short
Binance XAUUSDT	+0.0121%	4h	4,354.4	−0.011%	$411.0M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0121%	1h	4,351	−0.088%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,354	−0.018%	$1.4M	$3.0M	25x	as long as short
Bullet GOLD-USD	+0.0190%	1h	4,354.4	−0.011%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0207%	4h	4,355.5	+0.016%	$84.0M	$145.0M	150x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,354.7	−0.004%	$69.7M	$109.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,352.9	−0.045%	$259K	$701K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,355.3	+0.011%	$164.6M	$282.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.6	−0.075%	$594K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0331%	4h	4,355.7	+0.019%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0398% / S −0.0206%	1h	4,354.4	−0.011%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0613%	4h	4,357.7	+0.065%	$2.8M	$4.2M	75x	as long as short