Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.027%

Price spread now: Pacifica against Variational Omni−0.054%52s7-day average −0.094% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 7 days−0.061%−$6 · spread now −0.054%, 7d avg −0.094%

Together, before fees−0.090%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$9 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: Pacifica is 0.040% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.094%. The two prices were read 52 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	4,346.4	0.0096	pay 0.0048% / 4h	2h 25m	$47.8M	$34.2M	—
Short	Pacifica XAU	4,344.1	0.0100	get 0.0013% / 1h	25m 46s	$1.4M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.054%Rate

Funding earned: $0.78
Price spread: −0.054% → −0.094%: $3.96
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.26
Costs to cover: 0.080%
Break-even: 36.3 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Pacifica: live order book, 3 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, 3 min ago	1.55 bp	doesn't fit	1.6 bp −$16	4.4 bp −$438	doesn't fit
Sell Pacifica live order book, 3 min ago	0.34 bp	5.0 bp −$5	doesn't fit	doesn't fit	doesn't fit

XAU on 38 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	−0.0339%	1h	4,338.5	−0.184%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,346.6	+0.003%	$70.8M	$240.2M	20x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,346.5	+0.001%	$82.9M	$142.9M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,347.2	+0.017%	$272.3M	$411.3M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,343.8	−0.060%	$3.9M	$34.1M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.2	+0.086%	$92K	$10.9M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0018%	4h	4,346.1	−0.007%	$1.4M	$3.3M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,345	−0.033%	$20.6M	$46.5M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,347.6	+0.027%	$20.1M	$44.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344.7	−0.040%	$13.1M	$50.8M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.092%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,346.1	−0.008%	$3.8M	$4.7M	40x	as long as short
Bullet GOLD-USD	+0.0040%	1h	4,346.1	−0.008%	$58K	$83K	10x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.4	+0.828%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.1	−0.077%	$293.0M	$51.7M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,345.4	−0.024%	$4.3M	$2.2M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.4	−0.094%	$14.8M	$52.8M	25x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,346.3	−0.003%	$5.5M	$1.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,346.4	−0.001%	$19K	$6K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,343.6	−0.065%	$2.0M	$5.2M	25x	as long as short
Binance XAUUSDT	+0.0094%	4h	4,345.8	−0.016%	$412.4M	$2.09B	100x	as long as short
Variational Omni XAUlong	+0.0096%	4h	4,346.4	long leg	$47.8M	$34.2M	—
MEXC XAU_USDT	+0.0098%	4h	4,345.5	−0.021%	$369.2M	$341.9M	1000x	as long as short
Pacifica XAUshort	+0.0100%	1h	4,344.1	−0.054%	$1.4M	$1.2M	10x
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.9	−0.058%	$273K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,342.9	−0.081%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,345.8	−0.015%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0109%	1h	4,345.2	−0.028%	$47K	$69K	25x	as long as short
edgeX XAUUSDC	+0.0120%	4h	4,339.9	−0.150%	$30.2M	$57.5M	50x	as long as short
Bitget XAUUSDT	+0.0122%	4h	4,345.7	−0.017%	$67.3M	$112.8M	100x	as long as short
HTX XAU-USDT	+0.0135%	4h	4,349.2	+0.064%	$2.8M	$3.7M	75x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,346	−0.010%	$3.5M	$12.5M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,345.9	−0.012%	$157.8M	$271.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,343.3	−0.071%	$587K	$114K	25x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,345.8	−0.014%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0381%	4h	4,348.6	+0.050%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0495% / S −0.0311%	1h	4,345.7	−0.016%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0626%	1h	4,343	−0.079%	$221K	$893K	25x	as long as short