Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h −0.021%

Price spread now: Injective against Variational Omni+0.542%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.542% dearer against Variational Omni than usual: you sell high and buy low (spread +0.542% now, against zero (this spread has no 7-day history yet)): +$54 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,327	0.0091	pay 0.0046% / 4h	39m 02s	$47.2M	$29.3M	—
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	39m 02s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.542%Rate

Funding earned: −$12.18
Price spread: +0.542% → 0.000%: $54.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $41.97
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Injective: no order-book sample. 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, 5 min ago	1.55 bp	doesn't fit	2.0 bp −$20	4.7 bp −$470	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0159%	1h	4,319.6	−0.171%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,331.1	+0.095%	$92K	$7.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,322.6	−0.101%	$270K	—	250x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	+0.542%	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,328.4	+0.033%	$3.8M	$4.5M	40x	as long as short
Bybit XAUUSDT	+0.0042%	4h	4,327.8	+0.018%	$77.5M	$153.3M	150x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,324.6	−0.055%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,359.1	+0.742%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,322.6	−0.101%	$291.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.9	−0.118%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0059%	4h	4,328	+0.023%	$72.9M	$272.2M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,325.8	−0.028%	$20.4M	$29.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,325.9	−0.025%	$2K	$14K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,324	−0.069%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,323.9	−0.071%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0090%	24h	4,328.3	+0.030%	$3.8M	$44.5M	15x	as long as short
Variational Omni XAUlong	+0.0091%	4h	4,327	long leg	$47.2M	$29.3M	—
Phoenix GOLD	+0.0096%	1h	4,324.3	−0.062%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,326.6	−0.010%	$363.7M	$326.8M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0098%	4h	4,327.7	+0.018%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,326.4	−0.013%	$425.7M	$2.13B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.9	−0.094%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.3	−0.063%	$272K	$208K	50x	as long as short
Gate XAU_USDT	+0.0102%	4h	4,328.5	+0.036%	$280.5M	$414.0M	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.9	−0.024%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0108%	4h	4,322.8	−0.098%	$30.1M	$59.4M	50x	as long as short
Lighter RH XAU	+0.0128%	1h	4,328.2	+0.028%	$20.1M	$38.9M	25x	as long as short
Extended XAU-USD	+0.0144%	1h	4,322.8	−0.097%	$13.3M	$36.7M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0190%	1h	4,324.8	−0.050%	$163K	$869K	25x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,326.4	−0.014%	$70.2M	$118.7M	100x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,326.6	−0.009%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,326.2	−0.018%	$4.3M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,323.7	−0.075%	$578K	$135K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0279%	8h	4,326.8	−0.004%	$173.7M	$299.9M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,326.9	−0.003%	$16.4M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0360%	4h	4,329.6	+0.061%	$2.2M	$974K	100x	as long as short
HTX XAU-USDT	+0.0394%	4h	4,331.9	+0.113%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,326.8	−0.005%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,326.1	−0.020%	$4.6M	$13.4M	25x	as long as short