Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.019%

Price spread now: Bybit against Ondo Perps+0.102%7-day average +0.154% · you sell dearer than you buy

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

Long on Ondo Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days+0.163%+$16 · spread now +0.102%, 7d avg +0.154%

Together, before fees+0.217%+ Points / potential airdropOndo Perps: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.051% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.102% now, against its 7-day average of +0.154%). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.054% in total) that is about 6.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,347	0.0050	pay 0.0006% / 1h	9m 07s	$15.1M	$56.8M	25x
Short	Bybit XAUUSDT	4,351.4	0.0202	get 0.0101% / 4h	1h 09m	$84.4M	$145.4M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Ondo Perps. 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 Ondo PerpsbpFee BybitbpOrdersPrice spread, now +0.102%Rate

Funding earned: $31.84
Price spread: +0.102% → +0.154%: −$5.15
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $10.7
Costs to cover: 0.160%
Break-even: 4.6 days

Slippage unknown: Ondo Perps: no order-book sample; Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.01 bp	6.1 bp −$6	7.7 bp −$77	10.4 bp −$1,039	30.6 bp −$15.3K

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 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	4,352.2	+0.120%	$264.4M	$416.6M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.1	+0.164%	$93K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.2	−0.018%	$267K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,350	+0.070%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.2	−0.017%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.080%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0040%	4h	4,350.4	+0.080%	$70.7M	$334.1M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.1	+0.072%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0040%	24h	4,348.8	+0.043%	$4.1M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.7	+0.822%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,349.6	+0.061%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,349.2	+0.052%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,347.5	+0.013%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.5	+0.013%	$294.0M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,347	long leg	$15.1M	$56.8M	25x
Variational Omni XAU	+0.0053%	4h	4,347.3	+0.008%	$48.5M	$27.8M	—	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,349.5	+0.058%	$1.4M	$2.9M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,351.3	+0.099%	$20.1M	$39.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,346.8	−0.003%	$33K	—	25x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,350.5	+0.081%	$372.2M	$320.1M	1000x	as long as short
Binance XAUUSDT	+0.0073%	4h	4,350.2	+0.075%	$410.5M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,350.3	+0.078%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,343.5	−0.079%	$30.2M	$58.4M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,348.9	+0.045%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.6	−0.009%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.5	+0.012%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,349.2	+0.052%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.4	+0.079%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0141%	1h	4,348.5	+0.036%	$254K	$752K	25x	as long as short
Phemex XAUUSDT	+0.0189%	4h	4,353.8	+0.158%	$2.2M	$1.1M	100x	as long as short
Bullet GOLD-USD	+0.0191%	1h	4,350.1	+0.073%	$60K	$83K	10x	as long as short
Bybit XAUUSDTshort	+0.0202%	4h	4,351.4	+0.102%	$84.4M	$145.4M	150x
Bitget XAUUSDT	+0.0214%	4h	4,350.9	+0.091%	$70.3M	$109.5M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0258%	8h	4,351.4	+0.102%	$165.4M	$283.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,347.7	+0.017%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0291%	4h	4,350.1	+0.073%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0404% / S −0.0218%	1h	4,350.1	+0.073%	$248K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0502%	1h	4,344.6	−0.053%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,356	+0.209%	$2.9M	$4.2M	75x	as long as short