Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.017%

Price spread now: Lighter RH against Gate−0.014%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days−0.059%−$6 · spread now −0.014%, 7d avg −0.045%

Together, before fees−0.006%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.031% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAU_USDT	4,362.4	0	get 0.0000% / 4h	2h 34m	$263.1M	$409.0M	100x
Short	Lighter RH XAU	4,361.7	0.0048	get 0.0006% / 1h	34m 17s	$20.1M	$40.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Gate. 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 GatebpFee Lighter RHbpOrdersPrice spread, now −0.014%Rate

Funding earned: $10.08
Price spread: −0.014% → −0.045%: $3.12
Slippage, 4 orders: −$2.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$4.77
Costs to cover: 0.180%
Break-even: 10.3 days

Slippage from Gate: live order book, 5 min ago; Lighter RH: 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 Gate live order book, 5 min ago	0.01 bp	8.3 bp −$8	9.1 bp −$91	13.4 bp −$1,339	17.0 bp −$8,491
Sell Lighter RH live order book, 5 min ago	1.09 bp	1.1 bp −$1	1.2 bp −$12	4.2 bp −$419	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	0.0000%	1h	4,357	−0.123%	$33K	—	25x	as long as short
Gate XAU_USDTlong	0.0000%	4h	4,362.4	long leg	$263.1M	$409.0M	100x
Kalshi KXGOLDPERP	0.0000%	24h	4,357.4	−0.114%	$4.1M	$36.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,363.9	+0.036%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.8	−0.105%	$270K	—	250x	as long as short
Aster XAUUSD1	+0.0004%	4h	4,360.8	−0.035%	$70.2M	$293.2M	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,357.4	−0.113%	$13.6M	$42.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.274%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,360.5	−0.043%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,394.1	+0.728%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,358.3	−0.094%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAUshort	+0.0048%	1h	4,361.7	−0.014%	$20.1M	$40.8M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357.3	−0.116%	$294.2M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,356	−0.146%	$14.9M	$57.9M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,358.1	−0.098%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0059%	1h	4,359.6	−0.063%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	−0.134%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.9	−0.171%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,359.2	−0.073%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.279%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0086%	4h	4,360.4	−0.045%	$374.2M	$322.4M	1000x	as long as short
Binance XAUUSDT	+0.0088%	4h	4,361	−0.031%	$409.9M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,356	−0.146%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.6	−0.224%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,353.7	−0.198%	$26K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,360.1	−0.053%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.166%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,359.3	−0.070%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	−0.112%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,360	−0.054%	$235K	$662K	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,360.5	−0.042%	$59K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0156%	4h	4,362	−0.008%	$69.4M	$109.8M	100x	as long as short
Bybit XAUUSDT	+0.0181%	4h	4,362.7	+0.007%	$84.2M	$143.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0227%	8h	4,362.7	+0.008%	$165.1M	$284.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358	−0.100%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.056%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0349%	4h	4,361.3	−0.025%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361	−0.031%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0518%	4h	4,365	+0.060%	$2.9M	$3.9M	75x	as long as short