Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.088%

Price spread now: BloFin against Coinbase International+0.060%58s7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.242% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 3 days (all we have)+0.045%+$5 · spread now +0.060%, 7d avg +0.108%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.049% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.060% now, against its 7-day average of +0.108%). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$4 a day). The two prices were read 58 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	Coinbase International GOLD-PERP-INTX	4,372.2	0.0096	pay 0.0012% / 1h	46m 07s	$2.0M	$5.1M	25x
Short	BloFin XAU-USDT	4,374.8	0.0240	get 0.0120% / 4h	3h 46m	$15.0M	$4.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.060%Rate

Funding earned: $30.24
Price spread: +0.060% → +0.108%: −$4.86
Slippage, 4 orders: −$2.22
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1.17
Costs to cover: 0.242%
Break-even: 6.7 days

Slippage from Coinbase International: live order book, 3 min ago; BloFin: live order book, 3 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 Coinbase International live order book, 3 min ago	0.11 bp	5.1 bp −$5	7.3 bp −$73	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.02 bp	6.0 bp −$6	6.7 bp −$67	8.9 bp −$888	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
Bluefin GOLD-PERP	−0.0105%	1h	4,369.4	−0.065%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,375.7	+0.079%	$71.2M	$207.5M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376	+0.088%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.2	+0.092%	$266.4M	$410.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.4	+0.072%	$374.2M	$321.4M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	+0.066%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,372.2	0.000%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380.2	+0.183%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.6	−0.015%	$268K	—	250x	as long as short
Bitget XAUUSDT	+0.0006%	4h	4,376	+0.087%	$69.7M	$114.0M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.023%	$30.4M	$60.2M	50x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,372.6	+0.009%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.498%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.4	+0.096%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.066%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.6	+0.855%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.8	+0.083%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.9	−0.007%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.1	−0.026%	$14.7M	$57.4M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	+0.071%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,375.2	+0.068%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.9	+0.062%	$20.8M	$43.4M	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,376.5	+0.099%	$20.3M	$40.9M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	+0.063%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0096%	1h	4,372.2	long leg	$2.0M	$5.1M	25x
Pacifica XAU	+0.0100%	1h	4,372.5	+0.007%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	+0.023%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0108%	1h	4,374.6	+0.055%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0120%	1h	4,371.3	−0.020%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.097%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0162%	1h	4,374	+0.041%	$236K	$655K	25x	as long as short
Bybit XAUUSDT	+0.0168%	4h	4,376.7	+0.102%	$83.4M	$144.5M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,377.7	+0.126%	$166.3M	$287.4M	100x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	+0.078%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.2	+0.024%	$596K	$146K	25x	as long as short
BloFin XAU-USDTshort	+0.0240%	4h	4,374.8	+0.060%	$15.0M	$4.6M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376	+0.086%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0474%	4h	4,378.2	+0.138%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,380.4	+0.187%	$2.9M	$3.8M	75x	as long as short