Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.021%

Price spread now: Deribit against Variational Omni−0.025%7-day average −0.106% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.703%+$70 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now −0.025%, 7d avg −0.106%

Together, before fees+0.632%+ Points / potential airdropVariational Omni: Active · farm board+$63 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.081% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,365.9	0	get 0.0000% / 4h	43m 15s	$48.5M	$30.6M	—
Short	Deribit GOLD_USDC-PERPETUAL	4,364.8	0	get 0.0000% / 1h	43m 15s	$235K	$735K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → −0.106%: $8.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $1.1
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Deribit: live order book, 36 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, 1 min ago	1.54 bp	doesn't fit	1.6 bp −$16	4.5 bp −$452	doesn't fit
Sell Deribit live order book, 36 min ago	0.12 bp	3.6 bp −$4	4.5 bp −$45	doesn't fit	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
Bluefin GOLD-PERP	−0.0301%	1h	4,360.1	−0.132%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,362	−0.089%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,367.5	+0.037%	$71.6M	$228.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,366.7	+0.019%	$408.0M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,368	+0.049%	$82.6M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,365.9	0.000%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,367.9	+0.045%	$268.0M	$407.3M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,366.8	+0.020%	$377.1M	$321.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,367.7	+0.041%	$67.0M	$111.1M	100x	as long as short
Variational Omni XAUlong	0.0000%	4h	4,365.9	long leg	$48.5M	$30.6M	—

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,363.8	−0.049%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,364.1	−0.041%	$4.0M	$35.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,370.7	+0.110%	$93K	$10.6M	20x	as long as short
Deribit GOLD_USDC-PERPETUALshort	0.0000%	1h	4,364.8	−0.025%	$235K	$735K	25x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.8	−0.047%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,360.5	−0.123%	$30.3M	$58.3M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,365.3	−0.013%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,366.8	+0.021%	$20.9M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,368.8	+0.066%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,363.5	−0.054%	$13.0M	$46.6M	25x	as long as short
Bullet GOLD-USD	+0.0033%	1h	4,366.6	+0.016%	$60K	$81K	10x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.354%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,365.8	−0.002%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,400.6	+0.795%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,364.3	−0.036%	$293.8M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,365.8	−0.002%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.2	−0.085%	$14.5M	$56.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0075%	1h	4,365.6	−0.007%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,365.5	−0.009%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,362.6	−0.074%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.3	−0.104%	$277K	$204K	50x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,362.5	−0.078%	$33K	—	25x	as long as short
HTX XAU-USDT	+0.0136%	4h	4,369.7	+0.087%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,361.6	−0.098%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,368.5	+0.060%	$158.0M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364	−0.044%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.8	+0.021%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0309%	4h	4,369.9	+0.092%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,366.8	+0.020%	$252K	—	111x	as long as short