Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0197%/8h= +21.5% APRpaid last 24h +0.001%

Price spread now: GMX against Binance+0.017%60s7-day average +0.013% · you sell dearer than you buy

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.091%+$9 on $10k

Price spread, last 2 days (all we have)−0.014%−$1 · spread now +0.017%, 7d avg +0.013%

Together, before fees+0.077%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 60 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	Binance XAUUSDT	4,370.9	0	get 0.0000% / 4h	12m 28s	$410.8M	$2.14B	100x
Short	GMX GOLD/USD [ETH-USDC]	4,371.6	L +0.0390% / S −0.0197%	get 0.0025% / 1h	12m 28s	$252K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.017%Rate

Funding earned: $41.28
Price spread: +0.017% → +0.013%: $0.38
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $19.66
Costs to cover: 0.220%
Break-even: 3.7 days

Slippage unknown: Binance: live order book, 17 min ago; GMX: 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 Binance live order book, 17 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.6 bp −$657	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0246%	1h	4,363.2	−0.176%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	−0.013%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371	+0.003%	$71.9M	$224.5M	20x	as long as short
Binance XAUUSDTlong	0.0000%	4h	4,370.9	long leg	$410.8M	$2.14B	100x
Bybit XAUUSDT	0.0000%	4h	4,371.3	+0.010%	$82.7M	$142.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,370.9	0.000%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.6	+0.017%	$267.7M	$418.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.9	0.000%	$376.2M	$324.3M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,371	+0.004%	$69.6M	$113.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,370.5	−0.009%	$48.5M	$29.3M	—	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	4,371	+0.004%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,369	−0.043%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,376.1	+0.119%	$93K	$10.5M	20x	as long as short
edgeX XAUUSDC	+0.0001%	4h	4,365.2	−0.129%	$30.4M	$59.4M	50x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,366.8	−0.092%	$268K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,367.6	−0.075%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,370.4	−0.011%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.468%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,369.9	−0.022%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,371.9	+0.024%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.2	+0.785%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.2	−0.084%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367	−0.089%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0056%	8h	4,370.7	−0.003%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0056%	1h	4,372.5	+0.037%	$20.2M	$42.3M	25x	as long as short
Extended XAU-USD	+0.0072%	1h	4,367	−0.089%	$13.1M	$45.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.1	−0.017%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.9	−0.068%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.2	−0.062%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0107%	1h	4,370.4	−0.011%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0116%	1h	4,371	+0.002%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,369.3	−0.036%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0163%	8h	4,371.6	+0.017%	$158.6M	$274.2M	100x	as long as short
HTX XAU-USDT	+0.0194%	4h	4,376.4	+0.127%	$2.9M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.7	−0.050%	$603K	$137K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,371.6	+0.017%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0300%	1h	4,370	−0.020%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0316%	4h	4,374.2	+0.077%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]short	L +0.0390% / S −0.0197%	1h	4,371.6	+0.017%	$252K	—	111x