Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0874%/8h= +95.7% APRpaid last 24h +0.084%

Price spread now: HTX against RISEx+0.124%7-day average +0.045% · 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−$17as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.124%, 7d avg +0.045%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and HTX is 0.079% dearer against RISEx than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.045%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.017% in total (about 1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XAU/USDC	4,334.8	0.0205	pay 0.0026% / 1h	44m 39s	$4.7M	$13.2M	25x
Short	HTX XAU-USDT	4,340.2	0.1080	get 0.0540% / 4h	1h 44m	$3.2M	$7.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.124%Rate

Funding earned: $183.63
Price spread: +0.124% → +0.045%: $7.91
Slippage, 4 orders: −$6.81
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: $166.73
Costs to cover: 0.248%
Break-even: 0.6 days

Slippage from RISEx: live order book, 8 min ago; HTX: 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 RISEx live order book, 8 min ago	1.02 bp	4.0 bp −$4	4.6 bp −$46	36.5 bp −$3,645	doesn't fit
Sell HTX live order book, 2 min ago	0.01 bp	9.2 bp −$9	12.5 bp −$125	20.9 bp −$2,087	32.1 bp −$16.0K

XAU on 39 exchanges

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
Hotstuff GOLD-PERP	−3.2000%	1h	4,318.3	−0.381%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0044%	1h	4,328.3	−0.152%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,339	+0.097%	$92K	$5.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,328.8	−0.139%	$2.1M	$5.2M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,331.8	−0.070%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.360%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.2	+0.055%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,333	−0.042%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,367.9	+0.763%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,331.7	−0.072%	$292.4M	$51.6M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.5	−0.101%	$15.1M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,334.2	−0.014%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,336.2	+0.033%	$72.4M	$276.0M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0071%	1h	4,334.1	−0.017%	$4.3M	$1.7M	20x	as long as short
Variational Omni XAU	+0.0074%	4h	4,333.5	−0.029%	$47.3M	$29.2M	—	as long as short
Gate XAU_USDT	+0.0078%	4h	4,336.3	+0.034%	$298.2M	$444.8M	100x	as long as short
Lighter XAU	+0.0080%	1h	4,334.3	−0.011%	$20.2M	$30.4M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,336.1	+0.029%	$19.6M	$39.9M	25x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,334.6	−0.005%	$367.1M	$353.1M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0094%	4h	4,336.8	+0.045%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0094%	4h	4,334.8	−0.001%	$442.6M	$2.43B	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0096%	1h	4,333.5	−0.031%	$135K	$707K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,331	−0.088%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,334.5	−0.007%	$284K	$223K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,333.2	−0.037%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,333.9	−0.022%	$30.3M	$67.7M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,331	−0.087%	$12.5M	$34.6M	25x	as long as short
Bybit XAUUSDT	+0.0121%	4h	4,336.3	+0.033%	$82.6M	$172.5M	150x	as long as short
Phoenix GOLD	+0.0127%	1h	4,334.2	−0.014%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0137%	24h	4,334.9	+0.002%	$3.5M	$51.1M	15x	as long as short
Bullet GOLD-USD	+0.0166%	1h	4,334.8	+0.001%	$59K	$76K	10x	as long as short
RISEx XAU/USDClong	+0.0205%	1h	4,334.8	long leg	$4.7M	$13.2M	25x
Bitget XAUUSDT	+0.0212%	4h	4,334.8	0.000%	$72.8M	$139.5M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0237%	8h	4,335.7	+0.020%	$170.7M	$361.5M	100x	as long as short
Phemex XAUUSDT	+0.0238%	4h	4,338.3	+0.079%	$2.3M	$784K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,331.3	−0.080%	$583K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0336%	4h	4,334.8	0.000%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,334.8	0.000%	$253K	—	111x	as long as short
HTX XAU-USDTshort	+0.1080%	4h	4,340.2	+0.124%	$3.2M	$7.1M	75x