Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.012%

Price spread now: Lighter against Variational Omni−0.057%7-day average −0.045% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.057%, 7d avg −0.045%

Together, before fees+0.043%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.045%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,335.3	0.0109	pay 0.0054% / 4h	2h 33m	$48.3M	$27.5M	—
Short	Lighter XAU	4,332.8	0.0056	get 0.0007% / 1h	33m 41s	$20.6M	$30.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$11.12
Price spread: −0.057% → −0.045%: −$1.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.26
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter: live order book, 5 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	1.55 bp	doesn't fit	1.5 bp −$15	4.9 bp −$491	doesn't fit
Sell Lighter live order book, 5 min ago	0.45 bp	0.5 bp −$1	1.6 bp −$16	8.6 bp −$863	19.9 bp −$9,967

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	0.0000%	1h	4,331	−0.099%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,338.7	+0.079%	$92K	$8.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.5	−0.110%	$271K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,330.2	−0.118%	$13.2M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.349%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.9	+0.061%	$3.8M	$4.5M	40x	as long as short
Bluefin GOLD-PERP	+0.0042%	1h	4,328.3	−0.161%	$25K	$14K	20x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,333.3	−0.046%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,367.8	+0.750%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,331	−0.099%	$292.4M	$50.3M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.2	−0.116%	$15.0M	$56.6M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,334.4	−0.021%	$3.7M	$12.3M	25x	as long as short
Lighter XAUshort	+0.0056%	1h	4,332.8	−0.057%	$20.6M	$30.6M	25x
Kalshi KXGOLDPERP	+0.0056%	24h	4,333.8	−0.034%	$4.2M	$39.8M	15x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,336.2	+0.020%	$272.8M	$401.0M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330.8	−0.103%	$2.1M	$4.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,333.7	−0.037%	$19K	$5K	5x	as long as short
Bybit XAUUSDT	+0.0076%	4h	4,335.5	+0.005%	$79.7M	$152.9M	150x	as long as short
Lighter RH XAU	+0.0096%	1h	4,335.7	+0.010%	$20.0M	$38.4M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,330.9	−0.101%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,336.7	+0.033%	$276K	$204K	50x	as long as short
Variational Omni XAUlong	+0.0109%	4h	4,335.3	long leg	$48.3M	$27.5M	—
Aevo XAU-PERP	+0.0112%	1h	4,334.3	−0.023%	$161K	$87	10x	as long as short
Aster XAUUSD1	+0.0112%	4h	4,336.3	+0.024%	$71.4M	$331.3M	20x	as long as short
edgeX XAUUSDC	+0.0120%	4h	4,336.6	+0.030%	$30.2M	$58.3M	50x	as long as short
MEXC XAU_USDT	+0.0120%	4h	4,334.6	−0.015%	$367.3M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0122%	4h	4,334.6	−0.015%	$417.5M	$2.10B	100x	as long as short
Phoenix GOLD	+0.0127%	1h	4,341.6	+0.146%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,340	+0.108%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0166%	1h	4,334.9	−0.009%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0172%	1h	4,334.6	−0.016%	$4.2M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,331.7	−0.083%	$590K	$129K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,332.8	−0.057%	$202K	$823K	25x	as long as short
HTX XAU-USDT	+0.0263%	4h	4,338	+0.063%	$2.8M	$4.8M	75x	as long as short
Bitget XAUUSDT	+0.0284%	4h	4,335.1	−0.004%	$71.7M	$108.6M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0339%	8h	4,334.6	−0.016%	$169.9M	$286.9M	100x	as long as short
Phemex XAUUSDT	+0.0367%	4h	4,338.7	+0.080%	$2.2M	$960K	100x	as long as short
BloFin XAU-USDT	+0.0375%	4h	4,337.4	+0.048%	$15.9M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0284%	1h	4,334.6	−0.015%	$250K	—	111x	as long as short