Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.026%

Price spread now: Extended against Variational Omni−0.045%7-day average −0.086% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.045%, 7d avg −0.086%

Together, before fees+0.004%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.041% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,353.8	0	get 0.0000% / 4h	1h 27m	$48.0M	$31.7M	—
Short	Extended XAU-USD	4,351.8	0.0032	get 0.0004% / 1h	27m 20s	$13.0M	$49.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.045%Rate

Funding earned: $6.72
Price spread: −0.045% → −0.086%: $4.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $5.8
Costs to cover: 0.050%
Break-even: 1.0 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Extended: live order book, 2 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, 2 min ago	1.54 bp	doesn't fit	1.7 bp −$17	5.7 bp −$567	doesn't fit
Sell Extended live order book, 2 min ago	0.12 bp	2.6 bp −$3	2.9 bp −$29	7.4 bp −$744	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353	−0.019%	$600K	$141K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.1	+0.053%	$71.4M	$234.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.2	+0.032%	$409.6M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356	+0.051%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.4	+0.036%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,356.5	+0.061%	$271.0M	$409.1M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355.2	+0.032%	$376.8M	$351.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,355.4	+0.036%	$67.0M	$110.2M	100x	as long as short
Variational Omni XAUlong	0.0000%	4h	4,353.8	long leg	$48.0M	$31.7M	—
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.7	+0.043%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,353.6	−0.005%	$4.0M	$34.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,359.4	+0.128%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,351.9	−0.045%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,354.9	+0.025%	$5.6M	$1.9M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0009%	1h	4,350.9	−0.067%	$292.8M	$53.0M	25x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.8	−0.071%	$30.3M	$58.3M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,354.7	+0.020%	$21.0M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,356.5	+0.062%	$20.2M	$41.9M	25x	as long as short
Extended XAU-USDshort	+0.0032%	1h	4,351.8	−0.045%	$13.0M	$49.4M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.078%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	+0.052%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.6	+0.822%	—	$1.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,354.8	+0.022%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.2	−0.061%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.1	+0.028%	$19K	$6K	5x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,350.9	−0.067%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.5	+0.015%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0084%	4h	4,358.7	+0.113%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0096%	1h	4,355.2	+0.032%	$60K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.3	−0.036%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.012%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.4	−0.125%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,352.6	−0.028%	$48K	$65K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,353.8	0.000%	$221K	$760K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0156%	8h	4,356.5	+0.062%	$158.9M	$267.3M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	−0.021%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,356	+0.049%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0311%	4h	4,358.9	+0.116%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.2	+0.032%	$251K	—	111x	as long as short