Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.062%

Price spread now: Bullet against BloFin+0.009%48s7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 48 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	BloFin XAU-USDT	4,333.3	0.0359	pay 0.0180% / 4h	2h 10m	$16.0M	$4.5M	100x
Short	Bullet GOLD-USD	4,333.7	0.0160	get 0.0020% / 1h	10m 22s	$58K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against BloFin. 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 BloFinbpFee BulletbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$41.76
Price spread: +0.009% → 0.000%: $0.85
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$60.9
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 min ago; Bullet: 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 BloFin live order book, 4 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.7 bp −$766	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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	−0.0042%	1h	4,325.2	−0.189%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,337.2	+0.088%	$92K	$8.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329.9	−0.080%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,334.7	+0.031%	$78.4M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,329.7	−0.083%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.394%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333	−0.008%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,332.7	−0.015%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.6	+0.745%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,332.4	−0.021%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,329.8	−0.081%	$292.0M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.9	−0.078%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,334.8	+0.033%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,333.1	−0.005%	$4.0M	$42.1M	15x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,334.9	+0.036%	$272.1M	$416.5M	100x	as long as short
Lighter RH XAU	+0.0072%	1h	4,334.7	+0.033%	$19.9M	$38.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,327.9	−0.125%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,333.3	−0.001%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,335	+0.039%	$72.3M	$330.6M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,329.6	−0.086%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.2	−0.211%	$272K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	−0.043%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	−0.177%	$1.4M	$3.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,329.6	−0.086%	$32K	—	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,333.2	−0.003%	$364.7M	$330.2M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,333.6	+0.007%	$414.8M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,331.2	−0.050%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.155%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0128%	4h	4,322.8	−0.243%	$30.1M	$60.2M	50x	as long as short
Bullet GOLD-USDshort	+0.0160%	1h	4,333.7	+0.009%	$58K	$82K	10x
Polymarket Perps GOLD-USD	+0.0177%	1h	4,333.6	+0.006%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0234%	4h	4,334.6	+0.030%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,329.4	−0.091%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0256%	4h	4,333.2	−0.003%	$68.1M	$118.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,331.5	−0.042%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0332%	8h	4,334.9	+0.036%	$170.8M	$296.9M	100x	as long as short
BloFin XAU-USDTlong	+0.0359%	4h	4,333.3	long leg	$16.0M	$4.5M	100x
Phemex XAUUSDT	+0.0404%	4h	4,335.2	+0.042%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0302%	1h	4,334	+0.015%	$253K	—	111x	as long as short