Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h +0.038%

Price spread now: Bitget against Polymarket Perps+0.096%50s7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.227% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.096%, 7d avg +0.086%

Together, before fees+0.085%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.086%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.121%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,373.8	0.0101	pay 0.0013% / 1h	56m 43s	$4.3M	$1.8M	20x
Short	Bitget XAUUSDT	4,378	0	get 0.0000% / 4h	3h 56m	$69.8M	$114.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Polymarket 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 Polymarket PerpsbpFee BitgetbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$21.13
Price spread: +0.096% → +0.086%: $0.96
Slippage, 4 orders: −$2.66
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.84
Costs to cover: 0.227%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Bitget: live order book, 2 min ago.

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 Polymarket Perps live order book, 2 min ago	1.03 bp	5.0 bp −$5	5.2 bp −$52	6.1 bp −$605	doesn't fit
Sell Bitget live order book, 2 min ago	0.01 bp	6.2 bp −$6	7.7 bp −$77	12.0 bp −$1,198	doesn't fit

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
Phoenix GOLD	−0.0004%	1h	4,368.5	−0.121%	$48K	$64K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,378.6	+0.110%	$72.0M	$215.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,378.4	+0.104%	$410.7M	$2.15B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,377.8	+0.091%	$82.1M	$143.4M	150x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,375.6	+0.041%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,378.2	+0.100%	$267.0M	$406.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,378.3	+0.103%	$374.2M	$319.6M	1000x	as long as short
Bitget XAUUSDTshort	0.0000%	4h	4,378	+0.096%	$69.8M	$114.5M	100x
Variational Omni XAU	0.0000%	4h	4,372.6	−0.027%	$48.6M	$28.4M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,373.8	0.000%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,373	−0.018%	$4.0M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,378.7	+0.112%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,373.7	−0.003%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,366.5	−0.167%	$30.4M	$59.5M	50x	as long as short
Lighter RH XAU	+0.0032%	1h	4,379.7	+0.136%	$20.2M	$40.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.535%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,373.2	−0.014%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,376.9	+0.071%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.2	+0.809%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0047%	1h	4,375	+0.027%	$236K	$674K	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,378	+0.096%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,374.9	+0.025%	$294.9M	$53.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,373.5	−0.006%	$14.7M	$57.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,377.8	+0.092%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0064%	1h	4,377.8	+0.091%	$20.8M	$42.9M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,372.7	−0.026%	$162K	$87	10x	as long as short
Extended XAU-USD	+0.0096%	1h	4,374.4	+0.013%	$13.2M	$44.4M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,373.1	−0.016%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,375	+0.027%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,370.4	−0.078%	$277K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,369.2	−0.105%	$26K	$22K	20x	as long as short
Polymarket Perps GOLD-USDlong	+0.0101%	1h	4,373.8	long leg	$4.3M	$1.8M	20x
OKX XAU-USDT-SWAP	+0.0164%	8h	4,378.9	+0.117%	$158.6M	$278.9M	100x	as long as short
Phemex XAUUSDT	+0.0176%	4h	4,378.2	+0.100%	$2.2M	$1.1M	100x	as long as short
Bullet GOLD-USD	+0.0189%	1h	4,377.4	+0.081%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.4	−0.010%	$603K	$147K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,376.2	+0.056%	$14.8M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,377.4	+0.083%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.0434%	4h	4,380.8	+0.159%	$2.9M	$3.8M	75x	as long as short