Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0184%/8h= −20.1% APRpaid last 24h −0.047%

Price spread now: Aster against Deribit+0.045%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$170.173% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.708%−$71 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.045%, 7d avg +0.116%

Together, before fees−0.636%+ Points / potential airdropAster: Stage 5 · farm board−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aster is 0.071% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.116%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,323.1	0.0259	pay 0.0032% / 1h	41m 51s	$192K	$832K	25x
Short	Aster XAUUSD1	4,325.1	0.0076	get 0.0038% / 4h	1h 41m	$72.5M	$301.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$38.55
Price spread: +0.045% → +0.116%: −$7.11
Slippage, 4 orders: −$2.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$62.98
Costs to cover: 0.173%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Aster: live order book, 2 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 Deribit live order book, 2 min ago	0.12 bp	3.6 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.1 bp −$41	22.6 bp −$2,260	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	−0.0121%	1h	4,317.3	−0.134%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.4	+0.099%	$92K	$7.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,320.5	−0.061%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0005%	4h	4,324.2	+0.026%	$77.3M	$156.1M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,319.3	−0.089%	$13.2M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.632%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,325.9	+0.065%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322	−0.025%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356	+0.761%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320	−0.072%	$291.5M	$51.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.3	−0.087%	$15.0M	$55.7M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,323.2	+0.002%	$20.3M	$30.4M	25x	as long as short
Kalshi KXGOLDPERP	+0.0072%	24h	4,325.2	+0.049%	$3.8M	$43.4M	15x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,320.2	−0.067%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322.2	−0.021%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,323.2	+0.003%	$19K	$5K	5x	as long as short
Aster XAUUSD1short	+0.0076%	4h	4,325.1	+0.045%	$72.5M	$301.0M	20x
GRVT XAU_USDT_Perp	+0.0084%	4h	4,319.7	−0.079%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0086%	4h	4,324.9	+0.041%	$282.3M	$413.3M	100x	as long as short
Variational Omni XAU	+0.0095%	4h	4,320.7	−0.055%	$47.3M	$29.2M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,325.7	+0.061%	$19.8M	$38.5M	25x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,323.2	+0.002%	$415.6M	$2.14B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.4	−0.062%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.5	−0.084%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,322.8	−0.008%	$364.0M	$328.3M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,320.4	−0.064%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323	−0.003%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,318.5	−0.107%	$30.0M	$61.4M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.6	−0.057%	$584K	$134K	25x	as long as short
Bullet GOLD-USD	+0.0184%	1h	4,323.7	+0.014%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,325.8	+0.061%	$4.2M	$12.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0210%	1h	4,323.4	+0.007%	$4.3M	$1.9M	20x	as long as short
HTX XAU-USDT	+0.0219%	4h	4,326.6	+0.081%	$2.8M	$4.9M	75x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,323.5	+0.009%	$68.0M	$119.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0259%	1h	4,323.1	long leg	$192K	$832K	25x
OKX XAU-USDT-SWAP	+0.0312%	8h	4,324	+0.021%	$170.6M	$297.6M	100x	as long as short
BloFin XAU-USDT	+0.0341%	4h	4,323.3	+0.004%	$16.1M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0380%	4h	4,325.8	+0.063%	$2.2M	$967K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,324	+0.020%	$252K	—	111x	as long as short