Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.192%

Price spread now: Bitget against Bluefin+0.204%7-day average — · you sell dearer than you buy

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

Long on Bluefin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 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 pays, funding is against you. Bitget is 0.204% dearer against Bluefin than usual: you sell high and buy low (spread +0.204% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin GOLD-PERP	4,351.4	0.0100	pay 0.0013% / 1h	23m 06s	$25K	$22K	20x
Short	Bitget XAUUSDT	4,360.3	0.0058	get 0.0029% / 4h	3h 23m	$69.1M	$113.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bluefin. 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 BluefinbpFee BitgetbpOrdersPrice spread, now +0.204%Rate

Funding earned: −$8.82
Price spread: +0.204% → 0.000%: $20.43
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$7.39
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Bluefin: no order-book sample; Bitget: live order book, 1 min ago. 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 Bluefin no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	0.01 bp	6.0 bp −$6	7.5 bp −$75	11.1 bp −$1,114	doesn't fit

Bluefin: 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
Aster XAUUSD1	0.0000%	4h	4,360.2	+0.202%	$71.0M	$200.4M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.4	+0.231%	$266.3M	$416.6M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,355.9	+0.103%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,363.6	+0.281%	$93K	$10.2M	20x	as long as short
Variational Omni XAU	0.0000%	4h	4,360.4	+0.207%	$47.8M	$28.1M	—	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,356.4	+0.116%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0022%	4h	4,355.1	+0.086%	$30.3M	$60.4M	50x	as long as short
MEXC XAU_USDT	+0.0022%	4h	4,360.1	+0.200%	$372.9M	$328.1M	1000x	as long as short
Binance XAUUSDT	+0.0023%	4h	4,360.7	+0.214%	$411.7M	$2.15B	100x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.023%	$619	$54	52x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,362.4	+0.253%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,356.7	+0.122%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,393.8	+0.974%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,358.3	+0.159%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357.3	+0.136%	$293.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354	+0.059%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,358.5	+0.163%	$48K	$64K	25x	as long as short
Bitget XAUUSDTshort	+0.0058%	4h	4,360.3	+0.204%	$69.1M	$113.9M	100x
Lighter XAU	+0.0072%	1h	4,359.1	+0.178%	$20.6M	$44.1M	25x	as long as short
Extended XAU-USD	+0.0080%	1h	4,356.2	+0.109%	$13.5M	$43.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,358.3	+0.159%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,359	+0.175%	$161K	$87	10x	as long as short
BloFin XAU-USDT	+0.0091%	4h	4,361.9	+0.241%	$15.5M	$4.5M	100x	as long as short
Lighter RH XAU	+0.0096%	1h	4,361.4	+0.229%	$20.2M	$41.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,355.3	+0.090%	$33K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,354.3	+0.067%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,355	+0.083%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.8	+0.147%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERPlong	+0.0100%	1h	4,351.4	long leg	$25K	$22K	20x
Bybit XAUUSDT	+0.0102%	4h	4,361	+0.220%	$83.3M	$144.3M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0121%	1h	4,358.6	+0.165%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,361.1	+0.223%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,358.6	+0.165%	$235K	$656K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0199%	8h	4,361.3	+0.228%	$163.8M	$289.4M	100x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,360.3	+0.205%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,356.7	+0.123%	$594K	$151K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,360.4	+0.207%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0532%	4h	4,363.1	+0.269%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0575%	4h	4,363.4	+0.275%	$2.9M	$3.9M	75x	as long as short