Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.018%

Price spread now: Variational Omni against Paradex−0.061%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 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 · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.061% cheaper against Paradex than usual: you would sell low and buy high (−$6 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	4,344.2	0.0050	pay 0.0050% / 8h	2h 01m	$19K	$6K	5x
Short	Variational Omni XAU	4,341.5	0	get 0.0000% / 4h	2h 01m	$47.8M	$33.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.061%Rate

Funding earned: −$10.6
Price spread: −0.061% → 0.000%: −$6.13
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.73
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 3 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 Paradex no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	1.54 bp	doesn't fit	2.2 bp −$22	8.3 bp −$829	doesn't fit

Paradex: 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
Bluefin GOLD-PERP	−0.0570%	1h	4,337	−0.166%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,343.9	−0.007%	$71.1M	$240.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,344.4	+0.004%	$411.5M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,345	+0.018%	$82.6M	$144.7M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,345.8	+0.037%	$273.9M	$413.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,343.5	−0.017%	$371.4M	$350.9M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,345	+0.018%	$67.3M	$113.9M	100x	as long as short
Variational Omni XAUshort	0.0000%	4h	4,341.5	−0.061%	$47.8M	$33.8M	—
GRVT XAU_USDT_Perp	0.0000%	4h	4,342	−0.051%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,342.4	−0.042%	$3.9M	$34.1M	15x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet GOLD-USD	0.0000%	1h	4,344.3	+0.002%	$59K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,348.5	+0.099%	$92K	$10.9M	20x	as long as short
HTX XAU-USDT	0.0000%	4h	4,348.7	+0.104%	$2.8M	$3.8M	75x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,337.8	−0.148%	$30.2M	$58.0M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,341.9	−0.053%	$20.7M	$46.8M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,344.3	+0.002%	$20.2M	$45.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.024%	$13.2M	$50.6M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0033%	1h	4,340	−0.097%	$292.2M	$53.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.143%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,342.7	−0.035%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,381.9	+0.868%	—	$995K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,342.2	−0.046%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.7	−0.035%	$14.3M	$54.8M	25x	as long as short
Paradex XAU-USD-PERPlong	+0.0050%	8h	4,344.2	long leg	$19K	$6K	5x
QFEX GOLD-USD	+0.0052%	1h	4,344	−0.005%	$5.5M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,340.6	−0.083%	$2.0M	$5.2M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,342.6	−0.037%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.3	−0.044%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343	−0.028%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.4	−0.019%	$47K	$69K	25x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,339.7	−0.104%	$33K	—	25x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,345.5	+0.030%	$158.1M	$274.8M	100x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,343.9	−0.007%	$3.4M	$12.6M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,344.4	+0.004%	$14.8M	$4.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,341.9	−0.054%	$599K	$157K	25x	as long as short
Phemex XAUUSDT	+0.0389%	4h	4,344.8	+0.014%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,344.4	+0.004%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0695%	1h	4,342.6	−0.037%	$221K	$878K	25x	as long as short