Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.019%

Price spread now: Ondo Perps against Bybit−0.092%7-day average −0.155% · you buy dearer than you sell

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 7 days−0.234%−$23 · spread now −0.092%, 7d avg −0.155%

Together, before fees−0.288%+ Points / potential airdropOndo Perps: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.064% dearer against Bybit than usual: you sell high and buy low (spread −0.092% now, against its 7-day average of −0.155%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.054% in total) that is about 8.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,356.7	0.0185	pay 0.0092% / 4h	2h 36m	$84.1M	$143.6M	150x
Short	Ondo Perps XAU-USD.P	4,352.7	0.0050	get 0.0006% / 1h	36m 59s	$15.0M	$57.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee Ondo PerpsbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$28.19
Price spread: −0.092% → −0.155%: $6.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$37.82
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Ondo Perps: 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 Bybit live order book, 2 min ago	0.01 bp	5.5 bp −$6	6.8 bp −$68	10.7 bp −$1,073	32.7 bp −$16.4K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0316%	1h	4,348.2	−0.196%	$25K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,355.4	−0.029%	$70.1M	$292.9M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,356.7	−0.001%	$263.2M	$408.0M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,352.3	−0.101%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,357.9	+0.027%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,350.2	−0.150%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	−0.114%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,352.8	−0.090%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.144%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,353.9	−0.065%	$20.6M	$43.5M	25x	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	4,356	−0.016%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,388.2	+0.723%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,356.2	−0.012%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352	−0.108%	$293.9M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.Pshort	+0.0050%	1h	4,352.7	−0.092%	$15.0M	$57.7M	25x
QFEX GOLD-USD	+0.0051%	1h	4,354.8	−0.044%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,353	−0.085%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	−0.023%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.9	−0.133%	$2.0M	$5.0M	25x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.149%	$30.3M	$60.6M	50x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,355.6	−0.025%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,354.4	−0.052%	$374.0M	$322.0M	1000x	as long as short
Binance XAUUSDT	+0.0086%	4h	4,355.2	−0.036%	$409.3M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.4	−0.099%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.065%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,353.2	−0.081%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.037%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,355.3	−0.034%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	+0.018%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0150%	4h	4,355.5	−0.029%	$69.2M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,354.2	−0.057%	$59K	$83K	10x	as long as short
Bybit XAUUSDTlong	+0.0185%	4h	4,356.7	long leg	$84.1M	$143.6M	150x
OKX XAU-USDT-SWAP	+0.0225%	8h	4,357	+0.007%	$164.9M	$284.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,353.1	−0.083%	$234K	$661K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.2	−0.128%	$593K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.186%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0382%	4h	4,358.5	+0.042%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,354	−0.061%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0525%	4h	4,358.9	+0.051%	$2.9M	$3.9M	75x	as long as short