Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.026%

Price spread now: Lighter against Binance−0.022%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$110.113% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 2 days (all we have)−0.035%−$3 · spread now −0.022%, 7d avg −0.031%

Together, before fees−0.050%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,371.2	0	get 0.0000% / 4h	13m 06s	$410.8M	$2.14B	100x
Short	Lighter XAU	4,370.2	0.0040	get 0.0005% / 1h	13m 06s	$20.7M	$44.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.022%Rate

Funding earned: $8.4
Price spread: −0.022% → −0.031%: $0.86
Slippage, 4 orders: −$1.34
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.08
Costs to cover: 0.113%
Break-even: 8.7 days

Slippage from Binance: live order book, 16 min ago; Lighter: live order book, 6 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 Binance live order book, 16 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.6 bp −$657	doesn't fit
Sell Lighter live order book, 6 min ago	0.53 bp	0.7 bp −$1	2.0 bp −$20	10.2 bp −$1,018	22.6 bp −$11.3K

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	−0.0243%	1h	4,363.2	−0.183%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	−0.020%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.3	+0.004%	$71.9M	$224.8M	20x	as long as short
Binance XAUUSDTlong	0.0000%	4h	4,371.2	long leg	$410.8M	$2.14B	100x
Bybit XAUUSDT	0.0000%	4h	4,371.9	+0.017%	$82.8M	$142.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371.5	+0.008%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,372.2	+0.023%	$267.5M	$417.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,371.5	+0.007%	$376.3M	$324.3M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,371.2	+0.001%	$69.6M	$113.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,370.5	−0.016%	$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	−0.003%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,369	−0.050%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,376.1	+0.112%	$93K	$10.5M	20x	as long as short
edgeX XAUUSDC	+0.0001%	4h	4,365.2	−0.136%	$30.4M	$59.4M	50x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,367.4	−0.086%	$268K	—	250x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,371	−0.004%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.475%	$619	$54	52x	as long as short
Lighter XAUshort	+0.0040%	1h	4,370.2	−0.022%	$20.7M	$44.9M	25x
StandX XAU-USD	+0.0040%	1h	4,372.2	+0.024%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.8	+0.792%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.4	−0.086%	$294.3M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367.8	−0.078%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,371.5	+0.007%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0056%	1h	4,372.8	+0.037%	$20.2M	$42.3M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,367.7	−0.079%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0072%	1h	4,367.4	−0.087%	$13.1M	$45.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.1	−0.024%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,368.3	−0.066%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.2	−0.069%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0106%	1h	4,371.2	+0.001%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0114%	1h	4,371.7	+0.013%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,369.3	−0.043%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0163%	8h	4,372.4	+0.028%	$158.7M	$274.6M	100x	as long as short
HTX XAU-USDT	+0.0194%	4h	4,376.4	+0.120%	$2.9M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.7	−0.057%	$603K	$137K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,371.6	+0.011%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0300%	1h	4,370	−0.027%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0316%	4h	4,374.2	+0.070%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,371.6	+0.010%	$252K	—	111x	as long as short