Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.036%

Price spread now: Bitget against ApeX Omni+0.128%53s7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

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

costs, in and out, $10k−$480.483% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now +0.128%, 7d avg +0.048%

Together, before fees−0.025%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Bitget is 0.081% dearer against ApeX Omni than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.048%. The two prices were read 53 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	ApeX Omni XAUUSDT	4,359.2	0.0100	pay 0.0013% / 1h	58m 39s	$275K	$204K	50x
Short	Bitget XAUUSDT	4,364.7	0.0114	get 0.0057% / 4h	2h 58m	$69.5M	$111.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now +0.128%Rate

Funding earned: $2.94
Price spread: +0.128% → +0.048%: $8.05
Slippage, 4 orders: −$26.29
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$37.29
Costs to cover: 0.483%
Break-even: 95.8 days

Slippage from ApeX Omni: live order book, 9 min ago; Bitget: live order book, 5 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 ApeX Omni live order book, 9 min ago	4.15 bp	15.7 bp −$16	25.2 bp −$252	35.0 bp −$3,499	doesn't fit
Sell Bitget live order book, 5 min ago	0.01 bp	6.0 bp −$6	7.4 bp −$74	11.3 bp −$1,128	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
Bluefin GOLD-PERP	−0.0167%	1h	4,355.4	−0.086%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,365.6	+0.148%	$69.9M	$245.1M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,365.2	+0.138%	$264.8M	$400.4M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360	+0.019%	$4.0M	$36.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.4	+0.142%	$93K	$10.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.4	−0.040%	$269K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,360.7	+0.036%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,360.4	+0.028%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.200%	$619	$54	52x	as long as short
Variational Omni XAU	+0.0040%	4h	4,362	+0.065%	$48.4M	$28.5M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,363	+0.088%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,396.2	+0.850%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.3	+0.026%	$294.3M	$51.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,361	+0.042%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.7	+0.035%	$14.8M	$57.2M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,363.7	+0.104%	$5.6M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	+0.010%	$48K	$64K	25x	as long as short
Lighter XAU	+0.0056%	1h	4,363.4	+0.097%	$20.6M	$43.2M	25x	as long as short
MEXC XAU_USDT	+0.0060%	4h	4,364.6	+0.126%	$372.5M	$318.3M	1000x	as long as short
Binance XAUUSDT	+0.0062%	4h	4,364.9	+0.131%	$411.8M	$2.12B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.060%	$30.3M	$60.4M	50x	as long as short
Lighter RH XAU	+0.0064%	1h	4,365.8	+0.151%	$20.2M	$40.5M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,358.6	−0.013%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.9	+0.110%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,360.8	+0.039%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,361	+0.042%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,359.2	long leg	$275K	$204K	50x
Bitget XAUUSDTshort	+0.0114%	4h	4,364.7	+0.128%	$69.5M	$111.3M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,359.8	+0.015%	$235K	$659K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,364.6	+0.125%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.3	+0.071%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,362.6	+0.078%	$59K	$82K	10x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,365.3	+0.140%	$83.6M	$144.7M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0217%	8h	4,365.4	+0.143%	$164.3M	$286.5M	100x	as long as short
BloFin XAU-USDT	+0.0241%	4h	4,362.7	+0.082%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358.7	−0.010%	$594K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0291%	4h	4,364.2	+0.115%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361.5	+0.053%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0558%	4h	4,368	+0.203%	$2.9M	$3.9M	75x	as long as short