Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.008%

Price spread now: Aster against Lighter RH−0.014%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$100.102% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.014%, 7d avg +0.018%

Together, before fees+0.095%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board+$9 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 Aster is 0.033% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAU	4,309.4	0.0104	pay 0.0013% / 1h	32m 33s	$19.8M	$40.0M	25x
Short	Aster XAUUSD1	4,308.8	0.0054	get 0.0027% / 4h	3h 32m	$73.4M	$272.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$10.44
Price spread: −0.014% → +0.018%: −$3.28
Slippage, 4 orders: −$2.23
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$23.96
Costs to cover: 0.102%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 6 min ago; Aster: live order book, 7 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 RH live order book, 6 min ago	0.64 bp	0.9 bp −$1	1.5 bp −$15	15.8 bp −$1,583	doesn't fit
Sell Aster live order book, 7 min ago	0.01 bp	4.5 bp −$5	4.9 bp −$49	22.1 bp −$2,211	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	4,310.6	+0.029%	$92K	$6.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,302.6	−0.158%	$273K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,304.5	−0.113%	$32K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.952%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,307.5	−0.044%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,338.3	+0.671%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,305.9	−0.081%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,304.3	−0.118%	$291.0M	$54.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,303.5	−0.137%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.9	−0.127%	$15.0M	$55.9M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1short	+0.0054%	4h	4,308.8	−0.014%	$73.4M	$272.0M	20x
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,305.8	−0.083%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,306.9	−0.058%	$2K	$13K	5x	as long as short
Extended XAU-USD	+0.0072%	1h	4,303.4	−0.140%	$13.1M	$36.3M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0074%	4h	4,307.8	−0.038%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0080%	1h	4,306.9	−0.059%	$20.3M	$28.9M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,305.9	−0.081%	$46.6M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,306.2	−0.074%	$42K	$86K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,303.4	−0.138%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,305.2	−0.098%	$275K	$218K	50x	as long as short
Lighter RH XAUlong	+0.0104%	1h	4,309.4	long leg	$19.8M	$40.0M	25x
MEXC XAU_USDT	+0.0104%	4h	4,307.6	−0.042%	$353.1M	$338.2M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,306.8	−0.060%	$159K	$87	10x	as long as short
Binance XAUUSDT	+0.0107%	4h	4,307.6	−0.043%	$436.1M	$2.23B	100x	as long as short
edgeX XAUUSDC	+0.0109%	4h	4,305.9	−0.082%	$30.0M	$61.8M	50x	as long as short
Kalshi KXGOLDPERP	+0.0110%	24h	4,308.8	−0.014%	$3.7M	$46.5M	15x	as long as short
Bybit XAUUSDT	+0.0117%	4h	4,308.5	−0.021%	$77.6M	$157.8M	150x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,306.9	−0.057%	$4.4M	$13.1M	25x	as long as short
Gate XAU_USDT	+0.0158%	4h	4,309.9	+0.012%	$296.7M	$428.1M	100x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,307.8	−0.036%	$70.6M	$125.3M	100x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,306.7	−0.061%	$58K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0238%	1h	4,305.2	−0.097%	$134K	$847K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0250%	8h	4,308.4	−0.023%	$171.4M	$330.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,304	−0.126%	$572K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0381%	4h	4,306.9	−0.057%	$16.2M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0467% / S −0.0314%	1h	4,306.8	−0.060%	$255K	—	111x	as long as short
Phemex XAUUSDT	+0.0540%	4h	4,311	+0.037%	$2.2M	$956K	100x	as long as short
HTX XAU-USDT	+0.1150%	4h	4,313.6	+0.098%	$3.2M	$6.2M	75x	as long as short
Bluefin GOLD-PERP	+0.3952%	1h	4,302.6	−0.157%	$25K	$1K	20x	as long as short