XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0068%/8h= −7.5% APRnext payment −$0.09 per $10,000 · paid last 24h −0.018%

Price spread now: Lighter against Polymarket Perps−0.011%7-day average +0.030% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$110.109% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days+0.065%+$6 · spread now −0.011%, 7d avg +0.030%

Together, before fees+0.104%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.041% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,353	0.0100	pay 0.0013% / 1h	53m 20s	$4.3M	$1.9M	20x
Short	Lighter XAU	4,352.5	0.0032	get 0.0004% / 1h	53m 20s	$20.6M	$41.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$14.35
Price spread: −0.011% → +0.030%: −$4.13
Slippage, 4 orders: −$2.89
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$29.38
Costs to cover: 0.109%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Lighter: 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, 6 min ago	0.12 bp	4.1 bp −$4	4.4 bp −$44	5.3 bp −$529	doesn't fit
Sell Lighter live order book, 6 min ago	0.61 bp	0.7 bp −$1	2.0 bp −$20	9.4 bp −$935	22.4 bp −$11.2K

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	−0.0142%	1h	4,347.2	−0.134%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,355.2	+0.051%	$262.5M	$405.0M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,358.6	+0.128%	$93K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,349.6	−0.079%	$269K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,354.1	+0.025%	$3.4M	$12.4M	25x	as long as short
Lighter XAUshort	+0.0032%	1h	4,352.5	−0.011%	$20.6M	$41.8M	25x
Extended XAU-USD	+0.0032%	1h	4,349.7	−0.075%	$13.5M	$40.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.059%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0036%	24h	4,352.5	−0.011%	$4.1M	$36.2M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,355.4	+0.055%	$3.8M	$4.6M	40x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,387.2	+0.786%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,353.5	+0.011%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,350.3	−0.062%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,350.5	−0.057%	$293.6M	$48.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,350.4	−0.060%	$15.1M	$57.9M	25x	as long as short
Aster XAUUSD1	+0.0061%	4h	4,354.9	+0.044%	$70.2M	$328.2M	20x	as long as short
Lighter RH XAU	+0.0064%	1h	4,354.9	+0.044%	$20.1M	$39.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,353.7	+0.017%	$19K	$5K	5x	as long as short
Pacifica XAU	+0.0100%	1h	4,350.4	−0.060%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.3	−0.039%	$275K	$204K	50x	as long as short
Polymarket Perps GOLD-USDlong	+0.0100%	1h	4,353	long leg	$4.3M	$1.9M	20x
Hotstuff GOLD-PERP	+0.0104%	1h	4,352.8	−0.005%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0107%	4h	4,352.3	−0.017%	$48.3M	$28.1M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,353.3	+0.008%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,353.9	+0.021%	$410.7M	$2.09B	100x	as long as short
MEXC XAU_USDT	+0.0120%	4h	4,353.8	+0.019%	$372.4M	$315.3M	1000x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,347.1	−0.136%	$30.3M	$58.7M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,354	+0.024%	$1.4M	$3.0M	25x	as long as short
Phoenix GOLD	+0.0136%	1h	4,352	−0.023%	$48K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0189%	1h	4,353.9	+0.020%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0207%	4h	4,354.9	+0.045%	$84.0M	$145.0M	150x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,354	+0.024%	$69.7M	$109.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,352.9	−0.002%	$259K	$701K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,355.1	+0.048%	$164.6M	$282.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.6	−0.033%	$594K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0302%	4h	4,355.7	+0.061%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0398% / S −0.0206%	1h	4,353.9	+0.021%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0615%	4h	4,360.4	+0.170%	$2.9M	$4.2M	75x	as long as short