Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0479%/8h= +52.5% APRpaid last 24h +0.024%

Price spread now: HTX against Lighter RH+0.128%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.128%, 7d avg +0.033%

Together, before fees−0.063%+ Points / potential airdropLighter RH: Points live · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and HTX is 0.094% dearer against Lighter RH than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.033%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAU	4,376.4	0.0080	pay 0.0010% / 1h	47m 02s	$20.3M	$40.9M	25x
Short	HTX XAU-USDT	4,382	0.0559	get 0.0280% / 4h	3h 47m	$2.9M	$3.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.128%Rate

Funding earned: $100.68
Price spread: +0.128% → +0.033%: $9.41
Slippage, 4 orders: −$6.4
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $91.69
Costs to cover: 0.184%
Break-even: 0.6 days

Slippage from Lighter RH: live order book, 2 min ago; HTX: live order book, 2 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, 2 min ago	1.07 bp	1.1 bp −$1	1.4 bp −$14	15.4 bp −$1,538	doesn't fit
Sell HTX live order book, 2 min ago	0.01 bp	8.6 bp −$9	12.9 bp −$129	16.3 bp −$1,626	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
Bluefin GOLD-PERP	−0.0106%	1h	4,368	−0.191%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0032%	1h	4,372.3	−0.093%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,374.6	−0.041%	$71.2M	$208.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,374.9	−0.034%	$410.1M	$2.15B	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,374.9	−0.034%	$374.2M	$321.4M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,374.3	−0.046%	$48.7M	$27.9M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,371.9	−0.102%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,378.8	+0.054%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,370.1	−0.143%	$268K	—	250x	as long as short
Bitget XAUUSDT	+0.0004%	4h	4,374.9	−0.034%	$69.7M	$114.4M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XAU_USDT	+0.0006%	4h	4,375.6	−0.018%	$266.2M	$409.7M	100x	as long as short
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.119%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.593%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.4	0.000%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,374.6	−0.041%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.6	+0.759%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.1	−0.028%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.2	−0.118%	$294.6M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,370.7	−0.130%	$14.7M	$57.4M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	−0.025%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,374.7	−0.038%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,373.9	−0.057%	$20.8M	$43.3M	25x	as long as short
Lighter RH XAUlong	+0.0080%	1h	4,376.4	long leg	$20.3M	$40.9M	25x
Aevo XAU-PERP	+0.0080%	1h	4,373.5	−0.065%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,371.1	−0.121%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.084%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	−0.073%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0104%	1h	4,374	−0.054%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0120%	1h	4,370.3	−0.139%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.001%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0172%	8h	4,376.2	−0.004%	$164.4M	$284.9M	100x	as long as short
Bybit XAUUSDT	+0.0176%	4h	4,375.6	−0.019%	$83.4M	$144.5M	150x	as long as short
Bullet GOLD-USD	+0.0188%	1h	4,374.7	−0.039%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0208%	1h	4,372.6	−0.086%	$236K	$655K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,372	−0.100%	$596K	$146K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	−0.036%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,374.6	−0.041%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0510%	4h	4,377	+0.015%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDTshort	+0.0559%	4h	4,382	+0.128%	$2.9M	$3.8M	75x