XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0140%/8h= −15.3% APRnext payment −$0.18 per $10,000 · paid last 24h −0.054%

Price spread now: Lighter against Deribit+0.010%7-day average +0.068% · 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−$19as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.711%−$71 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.010%, 7d avg +0.068%

Together, before fees−0.650%+ Points / potential airdropLighter: Season 3 · farm board−$65 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.058% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.068%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,339.2	0.0188	pay 0.0024% / 1h	40m 22s	$205K	$827K	25x
Short	Lighter XAU	4,339.6	0.0048	get 0.0006% / 1h	40m 22s	$20.8M	$34.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$29.41
Price spread: +0.010% → +0.068%: −$5.81
Slippage, 4 orders: −$6.38
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$48.6
Costs to cover: 0.134%
Break-even: never at this rate

Slippage from Deribit: live order book, 14 min ago; Lighter: live order book, 8 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, 14 min ago	0.12 bp	3.6 bp −$4	4.8 bp −$48	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.26 bp	0.5 bp $0	1.5 bp −$15	10.5 bp −$1,052	23.7 bp −$11.9K

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
Hotstuff GOLD-PERP	−0.0024%	1h	4,337.9	−0.030%	$33K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0004%	1h	4,335.3	−0.090%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,345.3	+0.140%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,336.9	−0.053%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,340.1	+0.021%	$3.5M	$12.0M	25x	as long as short
Gate XAU_USDT	+0.0010%	4h	4,342.8	+0.083%	$267.7M	$414.1M	100x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.9	−0.053%	$13.2M	$37.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.259%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,342	+0.064%	$20.0M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,342	+0.065%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0042%	1h	4,338.9	−0.007%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.6	+0.793%	—	$1.0M	25x	as long as short
Lighter XAUshort	+0.0048%	1h	4,339.6	+0.010%	$20.8M	$34.5M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.5	−0.016%	$293.5M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.5	−0.040%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.4	−0.018%	$4.3M	$37.5M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,337.3	−0.044%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0059%	4h	4,341.5	+0.054%	$80.4M	$151.4M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,341.9	+0.061%	$71.4M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,340.8	+0.038%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,340.5	+0.029%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,337.3	−0.044%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.3	+0.002%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0102%	4h	4,341.4	+0.050%	$369.6M	$319.1M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,340.3	+0.026%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0104%	4h	4,341.1	+0.044%	$416.9M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,337.2	−0.047%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.8	+0.014%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,343.4	+0.097%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0188%	1h	4,339.2	long leg	$205K	$827K	25x
Bullet GOLD-USD	+0.0216%	1h	4,341.3	+0.049%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0217%	1h	4,340.8	+0.037%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0248%	4h	4,341.7	+0.056%	$71.0M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.2	−0.024%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,341.7	+0.058%	$166.4M	$281.6M	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,341.7	+0.059%	$15.6M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0372%	4h	4,344	+0.111%	$2.2M	$967K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.4	+0.050%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0597%	4h	4,345.7	+0.150%	$2.8M	$4.6M	75x	as long as short