Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.012%

Price spread now: Coinbase International against edgeX+0.058%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs+$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.350%+$35 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.058%, 7d avg +0.062%

Together, before fees+0.450%+ Points / potential airdropedgeX: Active · farm board+$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.350%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XAUUSDC	4,337.2	0.0110	pay 0.0055% / 4h	3h 41m	$30.2M	$58.3M	50x
Short	Coinbase International GOLD-PERP-INTX	4,339.7	0.0056	get 0.0007% / 1h	41m 11s	$2.1M	$4.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$11.24
Price spread: +0.058% → +0.062%: −$0.35
Slippage, 4 orders: −$2.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.61
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Coinbase International: 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 edgeX live order book, 3 min ago	0.34 bp	4.8 bp −$5	4.8 bp −$48	7.8 bp −$780	35.6 bp −$17.8K
Sell Coinbase International live order book, 3 min ago	0.58 bp	5.7 bp −$6	7.6 bp −$76	doesn't fit	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
Hotstuff GOLD-PERP	−0.0120%	1h	4,338.9	+0.040%	$33K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0012%	1h	4,335.4	−0.041%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,342.6	+0.125%	$267.7M	$413.7M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,345.3	+0.187%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,336.9	−0.007%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,339.9	+0.063%	$3.5M	$12.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.8	−0.008%	$13.3M	$37.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.306%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,339.7	+0.059%	$20.8M	$34.5M	25x	as long as short
Lighter RH XAU	+0.0040%	1h	4,341.8	+0.107%	$20.0M	$39.3M	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	4,343.7	+0.151%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,338.9	+0.040%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.4	+0.835%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.4	+0.028%	$293.5M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.2	+0.001%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.4	+0.028%	$4.3M	$37.5M	15x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0056%	1h	4,339.7	+0.058%	$2.1M	$4.8M	25x
Bybit XAUUSDT	+0.0059%	4h	4,341.5	+0.100%	$80.5M	$151.4M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,341.9	+0.108%	$71.4M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,340.4	+0.074%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,342.7	+0.128%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,337	−0.004%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.3	+0.049%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0102%	4h	4,341	+0.089%	$369.5M	$319.1M	1000x	as long as short
Binance XAUUSDT	+0.0103%	4h	4,341	+0.089%	$416.9M	$2.09B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,340.5	+0.077%	$161K	$87	10x	as long as short
edgeX XAUUSDClong	+0.0110%	4h	4,337.2	long leg	$30.2M	$58.3M	50x
Phoenix GOLD	+0.0136%	1h	4,339.8	+0.061%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,343.4	+0.144%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,339.3	+0.049%	$205K	$827K	25x	as long as short
Bullet GOLD-USD	+0.0215%	1h	4,341.2	+0.093%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,340.8	+0.084%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0246%	4h	4,341.6	+0.103%	$71.0M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.2	+0.023%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,341.6	+0.102%	$166.4M	$281.6M	100x	as long as short
Phemex XAUUSDT	+0.0365%	4h	4,344.1	+0.159%	$2.2M	$967K	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,341.7	+0.106%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.2	+0.093%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0581%	4h	4,345.7	+0.197%	$2.8M	$4.6M	75x	as long as short