Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.032%

Price spread now: BloFin against Deribit+0.133%57s7-day average +0.112% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.250% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.406%−$41 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now +0.133%, 7d avg +0.112%

Together, before fees−0.400%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.020% dearer against Deribit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.112%. Mind the row above: over the last 4 days funding on this pair cost −0.406%, so the current rate has only just turned in your favour. The two prices were read 57 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	Deribit GOLD_USDC-PERPETUAL	4,330	0.0143	pay 0.0018% / 1h	2m 12s	$135K	$748K	25x
Short	BloFin XAU-USDT	4,335.8	0.0351	get 0.0175% / 4h	2h 02m	$16.3M	$5.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.133%Rate

Funding earned: $43.72
Price spread: +0.133% → +0.112%: $2.04
Slippage, 4 orders: −$5.98
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $20.78
Costs to cover: 0.250%
Break-even: 3.7 days

Slippage from Deribit: live order book, 49 min ago; BloFin: live order book, 5 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, 49 min ago	0.12 bp	4.2 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.02 bp	6.3 bp −$6	6.7 bp −$67	8.7 bp −$871	doesn't fit

XAU on 39 exchanges

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
Hotstuff GOLD-PERP	−2.2880%	1h	4,318.3	−0.270%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,336.6	+0.153%	$92K	$6.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,327.4	−0.060%	$286K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,327.8	−0.051%	$2.1M	$5.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.472%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,332.6	+0.060%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,331	+0.023%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,366.2	+0.836%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,329	−0.023%	$292.2M	$52.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,328.6	−0.032%	$15.1M	$58.3M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,333.5	+0.080%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,333.4	+0.079%	$4.7M	$13.4M	25x	as long as short
Aster XAUUSD1	+0.0075%	4h	4,333.8	+0.088%	$73.1M	$275.6M	20x	as long as short
Phoenix GOLD	+0.0076%	1h	4,330.5	+0.012%	$43K	$72K	25x	as long as short
Variational Omni XAU	+0.0090%	4h	4,334.4	+0.101%	$47.3M	$29.4M	—	as long as short
Lighter XAU	+0.0096%	1h	4,331	+0.024%	$20.2M	$30.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,332.6	+0.060%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.9	+0.021%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,327.9	−0.048%	$25K	$1K	20x	as long as short
Gate XAU_USDT	+0.0104%	4h	4,334.3	+0.099%	$301.1M	$451.6M	100x	as long as short
Binance XAUUSDT	+0.0109%	4h	4,332	+0.045%	$445.4M	$2.42B	100x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,332	+0.046%	$369.0M	$367.5M	1000x	as long as short
Bybit XAUUSDT	+0.0112%	4h	4,332.7	+0.062%	$80.3M	$172.0M	150x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.4	+0.056%	$160K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0116%	4h	4,333.8	+0.089%	$1.4M	$3.1M	25x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,331.5	+0.034%	$30.3M	$66.8M	50x	as long as short
Kalshi KXGOLDPERP	+0.0133%	24h	4,335.1	+0.118%	$3.5M	$50.8M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0137%	1h	4,332.6	+0.060%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0143%	1h	4,330	long leg	$135K	$748K	25x
Lighter RH XAU	+0.0152%	1h	4,334	+0.093%	$19.8M	$41.2M	25x	as long as short
Extended XAU-USD	+0.0152%	1h	4,328.1	−0.043%	$12.6M	$34.9M	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,332.7	+0.063%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,331.9	+0.043%	$73.5M	$136.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0242%	8h	4,332.9	+0.067%	$170.7M	$358.9M	100x	as long as short
Phemex XAUUSDT	+0.0252%	4h	4,333.4	+0.079%	$2.2M	$782K	100x	as long as short
BloFin XAU-USDTshort	+0.0351%	4h	4,335.8	+0.133%	$16.3M	$5.3M	100x
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,329.5	−0.010%	$583K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,331.9	+0.043%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1125%	4h	4,339.5	+0.218%	$3.2M	$7.0M	75x	as long as short