Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.013%

Price spread now: GMX against Bitget0.000%7-day average +0.001% · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now 0.000%, 7d avg +0.001%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,347.2	0.0234	pay 0.0117% / 4h	37m 12s	$70.0M	$109.2M	100x
Short	GMX GOLD/USD [ETH-USDC]	4,347.2	L +0.0413% / S −0.0230%	get 0.0029% / 1h	37m 12s	$248K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$0.89
Price spread: 0.000% → +0.001%: −$0.14
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$25.03
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.01 bp	6.6 bp −$7	7.6 bp −$76	11.2 bp −$1,115	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
RISEx XAU/USDC	0.0000%	1h	4,347.3	+0.001%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.2	+0.091%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.2	−0.091%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0012%	4h	4,348	+0.019%	$267.9M	$411.3M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,347.3	+0.003%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.092%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.074%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.3	+0.047%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.048%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.3	−0.021%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0044%	24h	4,346.2	−0.023%	$4.1M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.7	+0.771%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.3	−0.067%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.1	−0.071%	$293.7M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.4	−0.087%	$15.1M	$56.7M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,347.5	+0.007%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0079%	4h	4,348.9	+0.039%	$48.4M	$27.7M	—	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,348.7	+0.033%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	+0.044%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,347.1	−0.003%	$372.3M	$317.1M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,347.9	+0.015%	$414.2M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,343.6	−0.082%	$30.2M	$58.2M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.9	−0.053%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.7	+0.012%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347	−0.004%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	+0.002%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,345.8	−0.032%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0154%	1h	4,346.4	−0.018%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,344.2	−0.070%	$592K	$132K	25x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,347.2	0.000%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0208%	4h	4,351.1	+0.089%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,345.6	−0.037%	$243K	$788K	25x	as long as short
Bitget XAUUSDTlong	+0.0234%	4h	4,347.2	long leg	$70.0M	$109.2M	100x
Bybit XAUUSDT	+0.0238%	4h	4,349.8	+0.060%	$85.1M	$144.9M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0284%	8h	4,348.5	+0.030%	$165.5M	$281.7M	100x	as long as short
BloFin XAU-USDT	+0.0347%	4h	4,348	+0.018%	$15.6M	$4.5M	100x	as long as short
Bluefin GOLD-PERP	+0.0405%	1h	4,340.9	−0.145%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]short	L +0.0413% / S −0.0230%	1h	4,347.2	0.000%	$248K	—	111x
HTX XAU-USDT	+0.0628%	4h	4,353.6	+0.146%	$2.9M	$4.3M	75x	as long as short