Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0341%/8h= +37.4% APRpaid last 24h +0.056%

Price spread now: BloFin against Polymarket Perps+0.227%45s7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,038as 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−$1,07610.758% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.379%+$38 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.227%, 7d avg +0.068%

Together, before fees+0.365%+$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and BloFin is 0.158% dearer against Polymarket Perps than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.068%. The two prices were read 45 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	4,295.8	0.0050	pay 0.0006% / 1h	27m 49s	$4.3M	$1.8M	20x
Short	BloFin XAU-USDT	4,305.5	0.0391	get 0.0196% / 4h	3h 27m	$16.3M	$5.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.227%Rate

Funding earned: $71.66
Price spread: +0.227% → +0.068%: $15.83
Slippage, 4 orders: −$1,055.75
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$988.26
Costs to cover: 10.758%
Break-even: 103.5 days

Slippage from Polymarket Perps: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	166.20 bp	230.6 bp −$231	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.01 bp	6.1 bp −$6	6.2 bp −$62	7.4 bp −$735	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
SunX XAU-USDT	0.0000%	4h	4,303.2	+0.173%	$91K	$6.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,295.1	−0.016%	$272K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.271%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,304.4	+0.200%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,332.5	+0.854%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,299.3	+0.081%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,296.2	+0.009%	$290.3M	$54.7M	25x	as long as short
Polymarket Perps GOLD-USDlong	+0.0050%	1h	4,295.8	long leg	$4.3M	$1.8M	20x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,295.5	−0.007%	$15.0M	$55.8M	25x	as long as short
Aster XAUUSD1	+0.0055%	4h	4,300.3	+0.105%	$73.3M	$271.4M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,295.9	+0.002%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,301.6	+0.134%	$2K	$13K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,300	+0.098%	$32K	—	25x	as long as short
Lighter XAU	+0.0080%	1h	4,298.1	+0.053%	$20.2M	$29.2M	25x	as long as short
Extended XAU-USD	+0.0080%	1h	4,295.9	+0.002%	$13.0M	$36.3M	25x	as long as short
Variational Omni XAU	+0.0092%	4h	4,306.3	+0.245%	$46.7M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,306.2	+0.242%	$42K	$86K	25x	as long as short
Bybit XAUUSDT	+0.0097%	4h	4,300.1	+0.101%	$77.6M	$159.1M	150x	as long as short
Pacifica XAU	+0.0100%	1h	4,297.6	+0.042%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,303.5	+0.178%	$275K	$218K	50x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,299.8	+0.092%	$362.5M	$342.3M	1000x	as long as short
Binance XAUUSDT	+0.0109%	4h	4,299.1	+0.078%	$434.7M	$2.24B	100x	as long as short
Kalshi KXGOLDPERP	+0.0111%	24h	4,301	+0.121%	$3.6M	$46.8M	15x	as long as short
Lighter RH XAU	+0.0112%	1h	4,301	+0.121%	$19.7M	$40.3M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,299.7	+0.090%	$159K	$87	10x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,304	+0.191%	$30.0M	$62.0M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,299.6	+0.089%	$4.4M	$13.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,306	+0.237%	$1.4M	$3.1M	25x	as long as short
Gate XAU_USDT	+0.0152%	4h	4,301.6	+0.135%	$297.8M	$431.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0192%	1h	4,298	+0.051%	$133K	$851K	25x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,299.9	+0.096%	$70.3M	$126.4M	100x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,299.4	+0.084%	$58K	$81K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0250%	8h	4,300.5	+0.109%	$170.1M	$335.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0329%	1h	4,296.1	+0.008%	$572K	$139K	25x	as long as short
BloFin XAU-USDTshort	+0.0391%	4h	4,305.5	+0.227%	$16.3M	$5.0M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0313%	1h	4,299.1	+0.077%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0656%	4h	4,303.6	+0.181%	$2.2M	$956K	100x	as long as short
HTX XAU-USDT	+0.1140%	4h	4,305.8	+0.232%	$3.2M	$6.8M	75x	as long as short
Bluefin GOLD-PERP	+0.3247%	1h	4,293.8	−0.047%	$25K	$1K	20x	as long as short