Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.009%

Price spread now: Deribit against Bitget−0.059%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.632%+$63 on $10k

Price spread, last 3 days (all we have)−0.047%−$5 · spread now −0.059%, 7d avg −0.121%

Together, before fees+0.585%+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.062% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,364.3	0	get 0.0000% / 4h	38m 06s	$66.9M	$111.3M	100x
Short	Deribit GOLD_USDC-PERPETUAL	4,361.7	0.0117	get 0.0015% / 1h	38m 06s	$235K	$735K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.059%Rate

Funding earned: $24.56
Price spread: −0.059% → −0.121%: $6.24
Slippage, 4 orders: −$5.26
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $6.54
Costs to cover: 0.243%
Break-even: 5.1 days

Slippage from Bitget: live order book, 1 min ago; Deribit: live order book, 41 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 Bitget live order book, 1 min ago	0.01 bp	6.0 bp −$6	7.4 bp −$74	10.2 bp −$1,024	doesn't fit
Sell Deribit live order book, 41 min ago	0.12 bp	3.6 bp −$4	4.5 bp −$45	doesn't fit	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	−0.0240%	1h	4,358.7	−0.127%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.3	−0.022%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,363.7	−0.014%	$71.5M	$227.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,363.9	−0.008%	$407.1M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,364.8	+0.011%	$82.8M	$141.8M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,363.9	−0.008%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,364.8	+0.012%	$267.8M	$408.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,364	−0.006%	$376.5M	$321.8M	1000x	as long as short
Bitget XAUUSDTlong	0.0000%	4h	4,364.3	long leg	$66.9M	$111.3M	100x
Variational Omni XAU	0.0000%	4h	4,365.9	+0.037%	$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	+0.043%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,361	−0.075%	$4.0M	$35.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,368.2	+0.089%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,359.8	−0.104%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,360.9	−0.077%	$30.3M	$58.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,360.3	−0.091%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,363.2	−0.025%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,362.2	−0.047%	$20.8M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,365.6	+0.030%	$20.2M	$41.7M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,359.7	−0.104%	$13.0M	$46.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.318%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.7	+0.055%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,397.8	+0.768%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.7	−0.082%	$293.5M	$52.1M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.2	−0.093%	$14.5M	$56.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0051%	8h	4,363.8	−0.011%	$19K	$6K	5x	as long as short
Bullet GOLD-USD	+0.0057%	1h	4,363.7	−0.013%	$60K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0078%	1h	4,363.1	−0.027%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,362.7	−0.037%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.9	−0.077%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,363.4	−0.021%	$277K	$204K	50x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0117%	1h	4,361.7	−0.059%	$235K	$735K	25x
HTX XAU-USDT	+0.0144%	4h	4,367.2	+0.067%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,360.3	−0.091%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0155%	8h	4,364.8	+0.012%	$157.9M	$271.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,361	−0.074%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,365.2	+0.022%	$14.8M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0316%	4h	4,367.3	+0.069%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,363.6	−0.016%	$252K	—	111x	as long as short