Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.011%

Price spread now: ApeX Omni against Variational Omni−0.056%103s7-day average −0.033% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.040%+$4 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now −0.056%, 7d avg −0.033%

Together, before fees+0.032%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of −0.033%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.040% in total) that is about 47 hours. The two prices were read 103 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	Variational Omni XAU	4,377.8	0	get 0.0000% / 4h	3h 53m	$48.7M	$28.0M	—
Short	ApeX Omni XAUUSDT	4,375.3	0.0100	get 0.0013% / 1h	53m 45s	$278K	$204K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.056%Rate

Funding earned: $21
Price spread: −0.056% → −0.033%: −$2.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $8.64
Costs to cover: 0.100%
Break-even: 4.1 days

Slippage unknown: Variational Omni: RFQ quote, just now; ApeX Omni: live order book, 18 min ago. Net counts fees only.

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 Variational Omni RFQ quote, just now	1.54 bp	doesn't fit	1.5 bp −$15	4.8 bp −$483	doesn't fit
Sell ApeX Omni live order book, 18 min ago	4.79 bp	20.3 bp −$20	33.1 bp −$331	44.5 bp −$4,455	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
Hotstuff GOLD-PERP	−0.0032%	1h	4,374.2	−0.082%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,373.4	−0.100%	$48K	$64K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,377.1	−0.016%	$72.0M	$213.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.8	−0.022%	$410.5M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.7	−0.026%	$266.6M	$407.3M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,377	−0.019%	$374.2M	$320.4M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,376.9	−0.020%	$69.8M	$114.5M	100x	as long as short
Variational Omni XAUlong	0.0000%	4h	4,377.8	long leg	$48.7M	$28.0M	—
Kalshi KXGOLDPERP	0.0000%	24h	4,373.9	−0.089%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380.1	+0.054%	$93K	$10.4M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.9	−0.136%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,367.4	−0.237%	$30.4M	$59.6M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.625%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376	−0.041%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.5	−0.052%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,410.4	+0.745%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,376.3	−0.035%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,373.2	−0.105%	$294.9M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.8	−0.138%	$14.7M	$57.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0066%	8h	4,376.5	−0.028%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,375.7	−0.047%	$20.7M	$43.2M	25x	as long as short
Lighter RH XAU	+0.0072%	1h	4,378.1	+0.006%	$20.2M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,372.7	−0.116%	$162K	$87	10x	as long as short
Extended XAU-USD	+0.0096%	1h	4,371.6	−0.141%	$13.2M	$44.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.9	−0.112%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.9	−0.112%	$1.4M	$1.2M	10x	as long as short
Bybit XAUUSDT	+0.0100%	4h	4,377.8	−0.001%	$83.1M	$144.3M	150x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,375.3	−0.056%	$278K	$204K	50x
Bluefin GOLD-PERP	+0.0100%	1h	4,369.6	−0.187%	$26K	$22K	20x	as long as short
Polymarket Perps GOLD-USD	+0.0102%	1h	4,374.8	−0.068%	$4.3M	$1.8M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0162%	1h	4,374.1	−0.084%	$236K	$655K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0166%	8h	4,378.1	+0.007%	$160.9M	$280.6M	100x	as long as short
Bullet GOLD-USD	+0.0191%	1h	4,375.7	−0.048%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,372.6	−0.119%	$596K	$154K	25x	as long as short
Phemex XAUUSDT	+0.0227%	4h	4,377	−0.017%	$2.2M	$1.1M	100x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,377	−0.018%	$14.8M	$4.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0244%	4h	4,378.5	+0.016%	$1.4M	$3.1M	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.6	−0.050%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.0604%	4h	4,379.8	+0.046%	$2.9M	$3.8M	75x	as long as short