Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.001%

Price spread now: Hotstuff against Paradex−0.054%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hotstuff is 0.054% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XAU-USD-PERP	4,306.3	0.0061	pay 0.0061% / 8h	7h 31m	$2K	$13K	5x
Short	Hotstuff GOLD-PERP	4,304	0.0008	get 0.0001% / 1h	31m 22s	$32K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Paradex. 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 ParadexbpFee HotstuffbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$11.07
Price spread: −0.054% → 0.000%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$25.43
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Hotstuff: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Paradex and Hotstuff: 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
SunX XAU-USDT	0.0000%	4h	4,310.9	+0.106%	$92K	$6.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,302.9	−0.079%	$273K	—	250x	as long as short
Hotstuff GOLD-PERPshort	+0.0008%	1h	4,304	−0.054%	$32K	—	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.024%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,308.6	+0.053%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,338.9	+0.757%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,305.9	−0.009%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.7	−0.061%	$290.9M	$54.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,303.7	−0.061%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.3	−0.071%	$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 XAUUSD1	+0.0055%	4h	4,308.4	+0.048%	$73.4M	$271.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,302.6	−0.086%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERPlong	+0.0061%	8h	4,306.3	long leg	$2K	$13K	5x
Extended XAU-USD	+0.0072%	1h	4,303	−0.077%	$13.1M	$36.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0074%	4h	4,307.8	+0.034%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0080%	1h	4,306	−0.007%	$20.3M	$29.0M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,305.9	−0.010%	$46.6M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,306.2	−0.003%	$42K	$86K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,303.1	−0.076%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,303.1	−0.075%	$275K	$218K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,308.7	+0.056%	$19.8M	$40.0M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,307.5	+0.029%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0106%	4h	4,307	+0.017%	$353.6M	$338.3M	1000x	as long as short
Binance XAUUSDT	+0.0108%	4h	4,307	+0.016%	$436.0M	$2.23B	100x	as long as short
Kalshi KXGOLDPERP	+0.0110%	24h	4,308.9	+0.060%	$3.7M	$46.5M	15x	as long as short
Bybit XAUUSDT	+0.0117%	4h	4,307.7	+0.033%	$77.6M	$157.7M	150x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,304.2	−0.048%	$30.0M	$61.9M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,306.7	+0.009%	$4.4M	$13.1M	25x	as long as short
Gate XAU_USDT	+0.0162%	4h	4,309.1	+0.064%	$296.8M	$428.5M	100x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,307.2	+0.020%	$70.6M	$125.2M	100x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,307	+0.017%	$58K	$81K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0250%	8h	4,307.9	+0.037%	$171.4M	$330.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0261%	1h	4,305.4	−0.021%	$134K	$848K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,304.5	−0.042%	$573K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0381%	4h	4,306.9	+0.015%	$16.2M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0467% / S −0.0314%	1h	4,306.9	+0.013%	$255K	—	111x	as long as short
Phemex XAUUSDT	+0.0481%	4h	4,311.1	+0.111%	$2.2M	$956K	100x	as long as short
HTX XAU-USDT	+0.1147%	4h	4,312.2	+0.136%	$3.2M	$6.3M	75x	as long as short
Bluefin GOLD-PERP	+0.3628%	1h	4,302.5	−0.088%	$25K	$1K	20x	as long as short