Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0154%/8h= +16.8% APRpaid last 24h +0.051%

Price spread now: Bitget against Ondo Perps+0.077%7-day average +0.143% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 7 days+0.236%+$24 · spread now +0.077%, 7d avg +0.143%

Together, before fees+0.380%+ Points / potential airdropOndo Perps: Active · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.066% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.077% now, against its 7-day average of +0.143%). If the spread goes back, that is −$7 on $10k: about 34 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.144% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,350.3	0.0050	pay 0.0006% / 1h	2m 26s	$15.0M	$58.0M	25x
Short	Bitget XAUUSDT	4,353.6	0.0204	get 0.0102% / 4h	2h 02m	$69.5M	$108.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.077%Rate

Funding earned: $32.26
Price spread: +0.077% → +0.143%: −$6.62
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: $8.64
Costs to cover: 0.170%
Break-even: 5.1 days

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	0.01 bp	6.3 bp −$6	8.0 bp −$80	10.9 bp −$1,095	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate XAU_USDT	0.0000%	4h	4,354.7	+0.100%	$263.6M	$417.7M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,355.1	+0.110%	$93K	$9.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,348.2	−0.047%	$269K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,347.9	−0.055%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,349	−0.029%	$13.5M	$41.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.003%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0035%	24h	4,349.4	−0.021%	$4.1M	$36.1M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,352.9	+0.060%	$3.8M	$4.6M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.4	+0.830%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,350.1	−0.005%	$293.6M	$49.0M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,350.3	long leg	$15.0M	$58.0M	25x
QFEX GOLD-USD	+0.0051%	1h	4,351.4	+0.025%	$5.5M	$1.9M	20x	as long as short
Aster XAUUSD1	+0.0052%	4h	4,354.4	+0.094%	$70.3M	$319.2M	20x	as long as short
Lighter XAU	+0.0056%	1h	4,351.8	+0.034%	$20.6M	$43.9M	25x	as long as short
Lighter RH XAU	+0.0064%	1h	4,354.5	+0.097%	$20.1M	$41.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,348.1	−0.051%	$2.0M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0087%	8h	4,352.8	+0.059%	$19K	$5K	5x	as long as short
Polymarket Perps GOLD-USD	+0.0088%	1h	4,352.7	+0.055%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0100%	4h	4,351.1	+0.019%	$48.2M	$28.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,349.7	−0.014%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.2	−0.071%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,345.1	−0.119%	$25K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,350.9	+0.013%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,353.3	+0.068%	$373.1M	$325.4M	1000x	as long as short
Binance XAUUSDT	+0.0116%	4h	4,353.5	+0.073%	$410.2M	$2.10B	100x	as long as short
Phoenix GOLD	+0.0121%	1h	4,349.6	−0.016%	$47K	$64K	25x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,344.8	−0.126%	$30.2M	$59.1M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,351.3	+0.023%	$1.4M	$3.0M	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,353.1	+0.065%	$3.4M	$12.4M	25x	as long as short
Bullet GOLD-USD	+0.0177%	1h	4,353.6	+0.076%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0202%	4h	4,354.7	+0.101%	$84.0M	$144.8M	150x	as long as short
Bitget XAUUSDTshort	+0.0204%	4h	4,353.6	+0.077%	$69.5M	$108.9M	100x
OKX XAU-USDT-SWAP	+0.0246%	8h	4,354.5	+0.097%	$164.6M	$281.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,350.9	+0.014%	$260K	$693K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,349.1	−0.028%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0351%	4h	4,353.2	+0.067%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0202%	1h	4,352.5	+0.050%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0612%	4h	4,356.8	+0.149%	$2.9M	$4.1M	75x	as long as short