Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.099%

Price spread now: tradeXYZ against BloFin−0.074%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.364%−$36 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now −0.074%, 7d avg −0.096%

Together, before fees−0.482%+ Points / potential airdroptradeXYZ: Active · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.022% dearer against BloFin than usual: you sell high and buy low (spread −0.074% now, against its 7-day average of −0.096%): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAU-USDT	4,348.4	0.0314	pay 0.0157% / 4h	59m 09s	$15.7M	$4.6M	100x
Short	tradeXYZ xyz:GOLD	4,345.2	0.0050	get 0.0006% / 1h	59m 09s	$293.9M	$48.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$55.49
Price spread: −0.074% → −0.096%: $2.23
Slippage, 4 orders: −$0.26
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$83.52
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; tradeXYZ: live order book, 11 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 BloFin live order book, 5 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	7.5 bp −$748	doesn't fit
Sell tradeXYZ live order book, 11 min ago	0.12 bp	9.1 bp −$9	9.3 bp −$93	11.6 bp −$1,162	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
RISEx XAU/USDC	0.0000%	1h	4,348.7	+0.007%	$3.4M	$12.2M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352.3	+0.090%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.9	−0.103%	$266K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,345.6	−0.065%	$33K	—	25x	as long as short
Gate XAU_USDT	+0.0008%	4h	4,350.2	+0.040%	$265.2M	$406.8M	100x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.9	−0.103%	$13.4M	$38.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.046%	$619	$54	52x	as long as short
Bluefin GOLD-PERP	+0.0033%	1h	4,342.4	−0.140%	$25K	$14K	20x	as long as short
Lighter XAU	+0.0040%	1h	4,346.8	−0.036%	$20.6M	$37.5M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	−0.003%	$3.8M	$4.6M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0042%	24h	4,346.1	−0.053%	$4.1M	$37.1M	15x	as long as short
Aster XAUUSD1	+0.0044%	4h	4,348.8	+0.010%	$70.9M	$334.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,381.3	+0.756%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,348.3	−0.003%	$5.7M	$2.0M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.2	−0.097%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLDshort	+0.0050%	1h	4,345.2	−0.074%	$293.9M	$48.9M	25x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.3	−0.073%	$15.1M	$56.8M	25x	as long as short
Variational Omni XAU	+0.0061%	4h	4,347.3	−0.027%	$48.4M	$27.7M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,349.1	+0.016%	$20.1M	$39.0M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0064%	4h	4,348.1	−0.007%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0076%	4h	4,348.1	−0.008%	$371.1M	$314.3M	1000x	as long as short
Binance XAUUSDT	+0.0079%	4h	4,348.1	−0.007%	$411.2M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,348.7	+0.005%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0089%	4h	4,343	−0.124%	$30.2M	$58.7M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	−0.072%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.7	−0.062%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347.6	−0.019%	$161K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0125%	1h	4,347.6	−0.019%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,345.3	−0.072%	$47K	$76K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,345.4	−0.069%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0194%	4h	4,349.6	+0.028%	$2.2M	$972K	100x	as long as short
Bullet GOLD-USD	+0.0205%	1h	4,348.4	0.000%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0214%	4h	4,349.5	+0.025%	$84.3M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0220%	4h	4,348.4	−0.001%	$70.2M	$109.5M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0266%	8h	4,349.6	+0.027%	$165.6M	$283.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0279%	1h	4,346.6	−0.042%	$268K	$768K	25x	as long as short
BloFin XAU-USDTlong	+0.0314%	4h	4,348.4	long leg	$15.7M	$4.6M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0407% / S −0.0222%	1h	4,348.1	−0.007%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0599%	4h	4,353.5	+0.118%	$2.9M	$4.3M	75x	as long as short