Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.001%

Price spread now: Bybit against RISEx+0.009%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 7 days−0.004%$0 · spread now +0.009%, 7d avg +0.020%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XAU/USDC	4,345.1	0.0005	pay 0.0001% / 1h	19m 37s	$3.9M	$12.4M	25x
Short	Bybit XAUUSDT	4,345.5	0.0033	get 0.0016% / 4h	3h 19m	$79.9M	$152.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.009%Rate

Funding earned: $5.87
Price spread: +0.009% → +0.020%: −$1.11
Slippage, 4 orders: −$2.88
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.11
Costs to cover: 0.199%
Break-even: 25.0 days

Slippage from RISEx: live order book, 5 min ago; Bybit: live order book, 4 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 RISEx live order book, 5 min ago	0.01 bp	5.8 bp −$6	6.4 bp −$64	34.1 bp −$3,411	doesn't fit
Sell Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	6.1 bp −$61	8.3 bp −$831	27.1 bp −$13.6K

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	4,349.4	+0.098%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.7	−0.100%	$272K	—	250x	as long as short
RISEx XAU/USDClong	+0.0005%	1h	4,345.1	long leg	$3.9M	$12.4M	25x
Bluefin GOLD-PERP	+0.0018%	1h	4,338.3	−0.157%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.9	−0.096%	$13.3M	$37.2M	25x	as long as short
Bybit XAUUSDTshort	+0.0033%	4h	4,345.5	+0.009%	$79.9M	$152.2M	150x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.122%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,344.6	−0.012%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.2	−0.021%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,377.4	+0.743%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,341.5	−0.083%	$293.7M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.9	−0.073%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,342.1	−0.069%	$4.3M	$37.5M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.9	−0.027%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.4	−0.085%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0060%	8h	4,344.7	−0.010%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,346.5	+0.032%	$20.2M	$40.0M	25x	as long as short
Gate XAU_USDT	+0.0090%	4h	4,346.3	+0.027%	$268.7M	$417.6M	100x	as long as short
Aster XAUUSD1	+0.0092%	4h	4,346.5	+0.032%	$71.5M	$331.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.1	−0.092%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.8	−0.098%	$274K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,340.9	−0.097%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0104%	4h	4,343.9	−0.027%	$48.3M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.9	−0.027%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,345	−0.002%	$371.8M	$320.5M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,345	−0.003%	$418.5M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0129%	4h	4,340.2	−0.114%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.5	−0.106%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0165%	4h	4,347.7	+0.059%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0182%	4h	4,344.6	−0.012%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,345	−0.002%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0213%	1h	4,344.6	−0.012%	$4.3M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,343.2	−0.044%	$205K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,341.9	−0.073%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0266%	4h	4,345.3	+0.005%	$71.0M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,345.5	+0.009%	$167.2M	$282.3M	100x	as long as short
BloFin XAU-USDT	+0.0358%	4h	4,341.8	−0.076%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,345.2	+0.001%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0547%	4h	4,348.2	+0.071%	$2.8M	$4.6M	75x	as long as short