Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.025%

Price spread now: tradeXYZ against Variational Omni−0.022%7-day average −0.084% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.022%, 7d avg −0.084%

Together, before fees−0.021%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board−$2 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: tradeXYZ is 0.063% dearer against Variational Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,346	0.0057	pay 0.0028% / 4h	1h 01m	$48.5M	$27.7M	—
Short	tradeXYZ xyz:GOLD	4,345.1	0.0050	get 0.0006% / 1h	1m 45s	$293.9M	$48.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 tradeXYZbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$1.43
Price spread: −0.022% → −0.084%: $6.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$13.15
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; tradeXYZ: live order book, 8 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	1.55 bp	doesn't fit	1.8 bp −$18	4.9 bp −$487	doesn't fit
Sell tradeXYZ live order book, 8 min ago	0.12 bp	9.1 bp −$9	9.3 bp −$93	11.6 bp −$1,162	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
SunX XAU-USDT	0.0000%	4h	4,352	+0.136%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.5	−0.058%	$266K	—	250x	as long as short
Gate XAU_USDT	+0.0004%	4h	4,349.7	+0.085%	$264.5M	$418.5M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.8	+0.041%	$3.4M	$12.3M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344	−0.047%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.101%	$619	$54	52x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,345	−0.024%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.7	−0.008%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0041%	4h	4,348.2	+0.050%	$70.9M	$334.1M	20x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,345.9	−0.003%	$4.1M	$37.1M	15x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380.6	+0.795%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,347.3	+0.029%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,346.7	+0.016%	$20.6M	$42.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.9	−0.026%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLDshort	+0.0050%	1h	4,345.1	−0.022%	$293.9M	$48.9M	25x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.6	−0.034%	$15.1M	$56.8M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,348.8	+0.063%	$20.1M	$39.9M	25x	as long as short
Variational Omni XAUlong	+0.0057%	4h	4,346	long leg	$48.5M	$27.7M	—
GRVT XAU_USDT_Perp	+0.0058%	4h	4,346.5	+0.011%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,348	+0.045%	$371.1M	$320.9M	1000x	as long as short
edgeX XAUUSDC	+0.0075%	4h	4,342.6	−0.080%	$30.2M	$58.6M	50x	as long as short
Binance XAUUSDT	+0.0076%	4h	4,348	+0.045%	$411.1M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,347.7	+0.037%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,347	+0.022%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.1	−0.045%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344.1	−0.045%	$274K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,347.2	+0.027%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	−0.001%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0191%	4h	4,349.6	+0.083%	$2.2M	$1.0M	100x	as long as short
Bullet GOLD-USD	+0.0193%	1h	4,348	+0.045%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0212%	4h	4,349.3	+0.075%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,348.6	+0.058%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0263%	8h	4,349.5	+0.080%	$165.4M	$283.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,345.3	−0.017%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0302%	4h	4,347.9	+0.042%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0341%	1h	4,342.1	−0.090%	$25K	$14K	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0349%	1h	4,346.4	+0.008%	$268K	$767K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0406% / S −0.0221%	1h	4,347.9	+0.043%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0595%	4h	4,353.5	+0.172%	$2.9M	$4.3M	75x	as long as short