Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h −0.004%

Price spread now: Bybit against ApeX Omni−0.076%69s7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as 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−$440.435% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.076%, 7d avg +0.060%

Together, before fees+0.121%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.136% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of +0.060%). If the spread goes back, that is −$14 on $10k: about 10 days of funding at the current rate (+$1 a day). The two prices were read 69 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	4,327.6	0.0100	pay 0.0013% / 1h	54m 23s	$284K	$232K	50x
Short	Bybit XAUUSDT	4,324.3	0.0145	get 0.0072% / 4h	2h 54m	$81.5M	$170.3M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.076%Rate

Funding earned: $9.38
Price spread: −0.076% → +0.060%: −$13.63
Slippage, 4 orders: −$22.51
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.75
Costs to cover: 0.435%
Break-even: 42.6 days

Slippage from ApeX Omni: live order book, 38 min ago; Bybit: 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, 38 min ago	3.65 bp	16.3 bp −$16	28.4 bp −$284	51.6 bp −$5,160	doesn't fit
Sell Bybit live order book, 5 min ago	0.01 bp	5.6 bp −$6	6.4 bp −$64	13.1 bp −$1,311	51.8 bp −$25.9K

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	4,328.8	+0.028%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.7	+0.072%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,325.1	−0.057%	$2.0M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.528%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,321.5	−0.140%	$6.6M	$3.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.5	+0.021%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.4	+0.643%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.9	−0.177%	$291.8M	$54.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,318.2	−0.216%	$15.1M	$57.4M	25x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,323.3	−0.099%	$4.6M	$13.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0058%	8h	4,321.6	−0.138%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,324.2	−0.079%	$74.3M	$273.2M	20x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,319.7	−0.182%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,318.3	−0.214%	$12.7M	$35.7M	25x	as long as short
Variational Omni XAU	+0.0094%	4h	4,326.7	−0.021%	$47.1M	$29.9M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,328.1	+0.012%	$43K	$72K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,323.9	−0.085%	$19.9M	$38.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.1	−0.196%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,327.6	long leg	$284K	$232K	50x
Lighter XAU	+0.0104%	1h	4,321.5	−0.140%	$20.1M	$29.4M	25x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,325	−0.061%	$302.2M	$430.2M	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,323.5	−0.094%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,323.3	−0.098%	$352.0M	$348.6M	1000x	as long as short
Binance XAUUSDT	+0.0116%	4h	4,323.2	−0.101%	$435.2M	$2.36B	100x	as long as short
Polymarket Perps GOLD-USD	+0.0119%	1h	4,322.6	−0.115%	$4.3M	$1.7M	20x	as long as short
Kalshi KXGOLDPERP	+0.0121%	24h	4,326.4	−0.027%	$3.5M	$48.6M	15x	as long as short
edgeX XAUUSDC	+0.0123%	4h	4,325.6	−0.046%	$30.2M	$65.1M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0130%	4h	4,329.2	+0.038%	$1.4M	$3.0M	25x	as long as short
Bybit XAUUSDTshort	+0.0145%	4h	4,324.3	−0.076%	$81.5M	$170.3M	150x
Deribit GOLD_USDC-PERPETUAL	+0.0167%	1h	4,321.9	−0.131%	$134K	$783K	25x	as long as short
Bullet GOLD-USD	+0.0190%	1h	4,322.9	−0.109%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,323	−0.106%	$71.5M	$133.0M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,323.8	−0.087%	$170.6M	$356.2M	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,325	−0.059%	$16.2M	$5.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0412%	1h	4,321.6	−0.138%	$582K	$150K	25x	as long as short
Phemex XAUUSDT	+0.0427%	4h	4,327	−0.014%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0306%	1h	4,324.8	−0.065%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1110%	4h	4,330.9	+0.077%	$3.2M	$7.0M	75x	as long as short
Bluefin GOLD-PERP	+0.3386%	1h	4,316.7	−0.252%	$25K	$1K	20x	as long as short