Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h 0.000%

Price spread now: Bybit against SoDEX−0.018%46s7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.195% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.088%−$9 · spread now −0.018%, 7d avg −0.053%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.035% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.053%. The two prices were read 46 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	SoDEX XAUT-USD	4,358.2	0.0050	pay 0.0006% / 1h	2m 30s	$10.2M	$2.0M	25x
Short	Bybit XAUTUSDT	4,357.4	0.0100	get 0.0050% / 4h	3h 02m	$120.9M	$27.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.018%Rate

Funding earned: $10.5
Price spread: −0.018% → −0.053%: $3.47
Slippage, 4 orders: −$0.52
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$5.55
Costs to cover: 0.195%
Break-even: 10.7 days

Slippage from SoDEX: live order book, 2 min ago; Bybit: live order book, 2 min ago.

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 SoDEX live order book, 2 min ago	0.12 bp	4.1 bp −$4	4.8 bp −$48	47.9 bp −$4,787	doesn't fit
Sell Bybit live order book, 2 min ago	0.12 bp	5.6 bp −$6	6.9 bp −$69	14.6 bp −$1,460	doesn't fit

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	−0.0269%	1h	4,356.5	−0.039%	$56K	$30K	20x	as long as short
Bitget XAUTUSDT	−0.0048%	4h	4,357.1	−0.025%	$25.9M	$15.2M	75x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,359.3	+0.025%	$131.1M	$8.2M	100x	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	−0.193%	$8K	$149K	30x	as long as short
SoDEX XAUT-USDlong	+0.0050%	1h	4,358.2	long leg	$10.2M	$2.0M	25x
Nado XAUT-PERP	+0.0100%	1h	4,357.4	−0.019%	$4.2M	$981K	10x	as long as short
Binance XAUTUSDT	+0.0100%	4h	4,357.7	−0.011%	$35.5M	$46.6M	75x	as long as short
Bybit XAUTUSDTshort	+0.0100%	4h	4,357.4	−0.018%	$120.9M	$27.7M	75x
MEXC XAUT_USDT	+0.0100%	4h	4,357	−0.028%	$336.0M	$284.9M	1000x	as long as short
KuCoin XAUTUSDTM	+0.0100%	4h	4,359.4	+0.028%	$11.4M	$2.9M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XAUT-USDT	+0.0100%	4h	4,357.7	−0.012%	—	$17.9M	—	as long as short
Variational Omni XAUT	+0.0100%	4h	4,356	−0.049%	$33.1M	$3.5M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,356.9	−0.030%	$810	$114K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,357.2	−0.023%	$268	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,358.6	+0.009%	$1.9M	$221K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,363.2	+0.114%	$2K	$3.6M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,354.3	−0.089%	$1.8M	$231K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,356.8	−0.033%	$272K	$231K	25x	as long as short
Kraken Futures PF_XAUTUSD	+0.0118%	1h	4,359.1	+0.021%	$5.3M	$4.0M	50x	as long as short
BloFin XAUT-USDT	+0.0340%	4h	4,356.6	−0.037%	$2.3M	$1.6M	75x	as long as short