Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.013%

Price spread now: GRVT against Ondo Perps+0.052%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 GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days+0.115%+$11 · spread now +0.052%, 7d avg +0.143%

Together, before fees+0.193%+ Points / potential airdropOndo Perps: Active · GRVT: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.091% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.052% now, against its 7-day average of +0.143%). If the spread goes back, that is −$9 on $10k: about 2.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.078% in total) that is about 8.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,339.4	0.0050	pay 0.0006% / 1h	47m 11s	$15.1M	$56.8M	25x
Short	GRVT XAU_USDT_Perp	4,341.6	0.0166	get 0.0083% / 4h	3h 47m	$1.4M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.052%Rate

Funding earned: $24.28
Price spread: +0.052% → +0.143%: −$9.1
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $1.18
Costs to cover: 0.140%
Break-even: 6.7 days

Slippage unknown: Ondo Perps: no order-book sample; GRVT: 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 GRVT live order book, 2 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	doesn't fit	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 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	−0.0006%	1h	4,336.2	−0.073%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,347.3	+0.182%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,338.8	−0.013%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,342.6	+0.075%	$3.5M	$12.1M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,344	+0.106%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,338.8	−0.013%	$13.3M	$37.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.255%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.3	+0.091%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,342.1	+0.063%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.2	+0.826%	—	$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
Lighter XAU	+0.0048%	1h	4,342	+0.060%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340.1	+0.017%	$293.5M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,339.4	long leg	$15.1M	$56.8M	25x
Kalshi KXGOLDPERP	+0.0051%	24h	4,340.2	+0.019%	$4.3M	$37.5M	15x	as long as short
Gate XAU_USDT	+0.0052%	4h	4,344.6	+0.121%	$267.9M	$411.9M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,340.1	+0.017%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0058%	4h	4,344	+0.106%	$80.5M	$150.6M	150x	as long as short
Aster XAUUSD1	+0.0074%	4h	4,344.4	+0.115%	$71.5M	$332.4M	20x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,342.6	+0.073%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0082%	4h	4,340.8	+0.033%	$48.4M	$27.6M	—	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,343.1	+0.087%	$372.5M	$317.5M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,343.3	+0.090%	$415.0M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,339.3	−0.002%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337	−0.055%	$274K	$203K	50x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,336.2	−0.074%	$30.2M	$58.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342.1	+0.064%	$161K	$87	10x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,339.6	+0.005%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0133%	4h	4,343.9	+0.105%	$2.2M	$967K	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.3	−0.025%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perpshort	+0.0166%	4h	4,341.6	+0.052%	$1.4M	$2.9M	25x
Bullet GOLD-USD	+0.0214%	1h	4,343	+0.085%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,343	+0.084%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0242%	4h	4,343.8	+0.102%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	+0.022%	$592K	$132K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0280%	1h	4,341.6	+0.051%	$205K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0316%	8h	4,344.7	+0.123%	$166.3M	$281.6M	100x	as long as short
BloFin XAU-USDT	+0.0352%	4h	4,343.4	+0.092%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0251%	1h	4,343.1	+0.087%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0541%	4h	4,347.6	+0.189%	$2.8M	$4.6M	75x	as long as short