Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.028%

Price spread now: Injective against Aster−0.342%107s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Injective is 0.342% cheaper against Aster than usual: you would sell low and buy high (spread −0.342% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$34 on $10k: about 34 days of funding at the current rate (+$1 a day). The two prices were read 107 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	Aster XAUUSD1	4,365.4	0	get 0.0000% / 4h	39m 32s	$71.6M	$227.7M	20x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	39m 32s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −0.342%Rate

Funding earned: $7
Price spread: −0.342% → 0.000%: −$34.21
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$35.23
Costs to cover: 0.080%
Break-even: 42.2 days

Slippage unknown: Aster: live order book, 5 min ago; 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 Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.4 bp −$44	13.8 bp −$1,379	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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.

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	−0.0280%	1h	4,359.4	−0.136%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.3	−0.047%	$48K	$65K	25x	as long as short
Aster XAUUSD1long	0.0000%	4h	4,365.4	long leg	$71.6M	$227.7M	20x
Binance XAUUSDT	0.0000%	4h	4,364.7	−0.014%	$407.8M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,365.5	+0.002%	$82.6M	$141.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.7	−0.016%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,365.8	+0.010%	$267.9M	$408.4M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.1	−0.006%	$377.2M	$321.5M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,364.9	−0.011%	$67.0M	$111.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	+0.012%	$48.5M	$30.6M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,366.2	+0.019%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,363.7	−0.038%	$4.0M	$35.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,370.9	+0.127%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,361.2	−0.095%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,360.9	−0.102%	$30.3M	$58.3M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,364.4	−0.022%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,364.3	−0.025%	$20.8M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,366.6	+0.029%	$20.2M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,361.4	−0.090%	$13.0M	$46.4M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	−0.342%	$619	$54	52x
Hotstuff GOLD-PERP	+0.0040%	1h	4,361.7	−0.084%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.6	+0.029%	$3.8M	$4.7M	40x	as long as short
Bullet GOLD-USD	+0.0045%	1h	4,364.9	−0.010%	$60K	$81K	10x	as long as short
Vest GC-PERP	+0.0046%	1h	4,400.5	+0.805%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,361.7	−0.084%	$293.6M	$52.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,364.9	−0.011%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,361.4	−0.090%	$14.5M	$56.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0071%	1h	4,363.5	−0.042%	$235K	$735K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0076%	1h	4,365.7	+0.008%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.5	−0.020%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,361.8	−0.082%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,363.4	−0.046%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0141%	4h	4,368.2	+0.065%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,361.5	−0.088%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0155%	8h	4,365.8	+0.010%	$157.9M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,362.9	−0.056%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.9	+0.035%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0303%	4h	4,368.8	+0.079%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,364.9	−0.010%	$252K	—	111x	as long as short