Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.022%

Price spread now: Injective against Orderly−0.225%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 0.225% cheaper against Orderly than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XAUT_USDC_mythos	4,359.6	0.0100	pay 0.0050% / 4h	1h 04m	$268	$17K	10x
Short	Injective XAUT/USDC PERP	4,349.8	−0.0039	pay 0.0005% / 1h	4m 41s	$8K	$149K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now −0.225%Rate

Funding earned: −$29.19
Price spread: −0.225% → 0.000%: −$22.48
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$57.68
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Orderly and 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.

XAUT on 20 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
Aftermath Perps XAUTUSD	−0.0204%	1h	4,358.1	−0.034%	$56K	$32K	20x	as long as short
Bitget XAUTUSDT	−0.0176%	4h	4,359.9	+0.006%	$26.2M	$14.8M	75x	as long as short
Kraken Futures PF_XAUTUSD	−0.0105%	1h	4,362.5	+0.067%	$5.3M	$3.5M	50x	as long as short
Injective XAUT/USDC PERPshort	−0.0039%	1h	4,349.8	−0.225%	$8K	$149K	30x
Gate XAUT_USDT	0.0000%	8h	4,361.1	+0.034%	$132.0M	$8.1M	100x	as long as short
MEXC XAUT_USDT	+0.0046%	4h	4,359.7	+0.002%	$345.4M	$285.9M	1000x	as long as short
Bybit XAUTUSDT	+0.0048%	4h	4,359.9	+0.007%	$120.8M	$27.0M	75x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,362	+0.055%	$10.2M	$2.0M	25x	as long as short
Variational Omni XAUT	+0.0058%	4h	4,357.9	−0.040%	$33.3M	$3.3M	—	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,359.2	−0.009%	$4.2M	$986K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XAUTUSDT	+0.0100%	4h	4,361	+0.033%	$35.5M	$45.8M	75x	as long as short
KuCoin XAUTUSDTM	+0.0100%	4h	4,361.7	+0.047%	$11.4M	$3.0M	75x	as long as short
BingX XAUT-USDT	+0.0100%	4h	4,359.7	+0.003%	—	$17.9M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,357.9	−0.038%	$880	$111K	10x	as long as short
Orderly PERP_XAUT_USDC_mythoslong	+0.0100%	4h	4,359.6	long leg	$268	$17K	10x
Derive XAUT-PERP	+0.0100%	1h	4,361.6	+0.047%	$1.8M	$179K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,365.4	+0.133%	$2K	$3.7M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,356.4	−0.073%	$1.9M	$231K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,359.5	−0.003%	$272K	$217K	25x	as long as short
BloFin XAUT-USDT	+0.0203%	4h	4,358.3	−0.030%	$2.3M	$1.7M	75x	as long as short