Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.006%

Price spread now: Ondo Perps against Paradex−0.082%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 Ondo Perps

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 · Ondo Perps: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.082% cheaper against Paradex than usual: you would sell low and buy high (−$8 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	4,362.5	0.0087	pay 0.0087% / 8h	7h 01m	$19K	$5K	5x
Short	Ondo Perps XAU-USD.P	4,358.9	0.0050	get 0.0006% / 1h	1m 31s	$14.8M	$57.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$7.74
Price spread: −0.082% → 0.000%: −$8.22
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$24.96
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Ondo Perps: 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 Ondo Perps no order-book sample	—	—	—	—	—

Paradex and 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
Aster XAUUSD1	0.0000%	4h	4,363.2	+0.015%	$69.8M	$232.0M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.3	+0.018%	$265.1M	$423.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360.8	−0.039%	$4.0M	$36.7M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,368.1	+0.128%	$93K	$10.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,358.4	−0.095%	$269K	—	250x	as long as short
Variational Omni XAU	+0.0029%	4h	4,362.2	−0.007%	$48.4M	$28.5M	—	as long as short
Extended XAU-USD	+0.0032%	1h	4,358.8	−0.084%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.277%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.9	+0.032%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,362.4	−0.002%	$5.6M	$1.9M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,395.9	+0.766%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,362.8	+0.006%	$3.4M	$12.3M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,359.2	−0.076%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,358.9	−0.083%	$294.2M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.Pshort	+0.0050%	1h	4,358.9	−0.082%	$14.8M	$57.2M	25x
MEXC XAU_USDT	+0.0054%	4h	4,362.7	+0.004%	$372.8M	$331.7M	1000x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	−0.067%	$48K	$64K	25x	as long as short
Binance XAUUSDT	+0.0056%	4h	4,362.5	−0.001%	$411.6M	$2.14B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.137%	$30.3M	$60.4M	50x	as long as short
Lighter XAU	+0.0072%	1h	4,361.7	−0.018%	$20.6M	$44.5M	25x	as long as short
Paradex XAU-USD-PERPlong	+0.0087%	8h	4,362.5	long leg	$19K	$5K	5x
Lighter RH XAU	+0.0088%	1h	4,364.2	+0.039%	$20.2M	$41.5M	25x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,362.8	+0.007%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,358.7	−0.087%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.1	−0.055%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.2	−0.077%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,356.1	−0.148%	$26K	$22K	20x	as long as short
Bitget XAUUSDT	+0.0108%	4h	4,362.8	+0.006%	$69.7M	$112.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,362.4	−0.002%	$235K	$658K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0117%	1h	4,361.4	−0.025%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0142%	4h	4,362.6	+0.003%	$1.4M	$3.1M	25x	as long as short
Bybit XAUUSDT	+0.0197%	4h	4,363.3	+0.018%	$83.8M	$144.8M	150x	as long as short
BloFin XAU-USDT	+0.0207%	4h	4,362.7	+0.005%	$15.4M	$4.6M	100x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,362.7	+0.006%	$59K	$82K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0215%	8h	4,364	+0.034%	$164.2M	$288.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,361.1	−0.032%	$595K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0298%	4h	4,364.5	+0.045%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,362.7	+0.006%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0555%	4h	4,367.4	+0.112%	$2.9M	$3.9M	75x	as long as short