Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.026%

Price spread now: Bybit against gTrade (Gains Network)+0.157%102s7-day average +0.110% · 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−$2782.780% of the position

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.157%, 7d avg +0.110%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bybit is 0.046% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.110%. The two prices were read 102 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	gTrade (Gains Network) XAU/USD	4,305.5	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	20m 42s	$273K	—	250x
Short	Bybit XAUUSDT	4,312.3	0.0141	get 0.0070% / 4h	3h 20m	$79.7M	$161.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.157%Rate

Funding earned: $29.01
Price spread: +0.157% → +0.110%: $4.64
Slippage, 4 orders: −$260.05
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$244.4
Costs to cover: 2.780%
Break-even: 66.0 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 43 min ago; Bybit: 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 gTrade (Gains Network) virtual book (oracle venue), 43 min ago	130.01 bp	133.5 bp −$134	196.7 bp −$1,967	1352.9 bp −$135.3K	5907.8 bp −$2.95M
Sell Bybit live order book, 3 min ago	0.01 bp	5.5 bp −$6	5.9 bp −$59	10.5 bp −$1,049	34.3 bp −$17.2K

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	−0.0016%	1h	4,305.9	+0.008%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,315.2	+0.224%	$92K	$6.7M	20x	as long as short
gTrade (Gains Network) XAU/USDlong	L +0.0002% / S −0.0003%	1h	4,305.5	long leg	$273K	—	250x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.042%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,341.9	+0.844%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,308.5	+0.069%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,306.2	+0.015%	$290.9M	$54.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,307.9	+0.055%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,307.5	+0.045%	$15.0M	$56.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,306.7	+0.027%	$2.0M	$5.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0062%	8h	4,309.8	+0.099%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0069%	4h	4,312.2	+0.155%	$73.6M	$271.5M	20x	as long as short
StandX XAU-USD	+0.0077%	1h	4,308.4	+0.066%	$3.8M	$4.5M	40x	as long as short
Lighter XAU	+0.0080%	1h	4,309.4	+0.090%	$20.2M	$29.6M	25x	as long as short
Phoenix GOLD	+0.0095%	1h	4,301.6	−0.092%	$42K	$86K	25x	as long as short
Extended XAU-USD	+0.0096%	1h	4,307	+0.033%	$13.0M	$36.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,306.5	+0.022%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,301.8	−0.088%	$273K	$219K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,312	+0.150%	$19.8M	$40.6M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,310.5	+0.115%	$160K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0114%	24h	4,312.8	+0.169%	$3.6M	$47.1M	15x	as long as short
Variational Omni XAU	+0.0115%	4h	4,311.4	+0.137%	$46.9M	$29.9M	—	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,300.7	−0.111%	$30.0M	$62.5M	50x	as long as short
MEXC XAU_USDT	+0.0122%	4h	4,310.5	+0.115%	$360.1M	$347.6M	1000x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,308.8	+0.075%	$4.5M	$13.4M	25x	as long as short
Binance XAUUSDT	+0.0130%	4h	4,310.8	+0.121%	$437.2M	$2.26B	100x	as long as short
Bybit XAUUSDTshort	+0.0141%	4h	4,312.3	+0.157%	$79.7M	$161.2M	150x
Gate XAU_USDT	+0.0178%	4h	4,313.2	+0.177%	$302.0M	$436.3M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0188%	4h	4,306.4	+0.020%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,311.3	+0.133%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,310.7	+0.120%	$70.3M	$127.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0214%	1h	4,310.4	+0.113%	$133K	$831K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0251%	8h	4,311.1	+0.129%	$170.5M	$341.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,308.6	+0.070%	$573K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0394%	4h	4,311.7	+0.144%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0313%	1h	4,311.9	+0.148%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0512%	4h	4,312.6	+0.165%	$2.2M	$986K	100x	as long as short
HTX XAU-USDT	+0.1220%	4h	4,318.1	+0.291%	$3.2M	$6.8M	75x	as long as short
Bluefin GOLD-PERP	+0.2471%	1h	4,304.6	−0.021%	$25K	$1K	20x	as long as short