Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.019%

Price spread now: HTX against GMX+0.087%7-day average +0.047% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.283%−$28 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.087%, 7d avg +0.047%

Together, before fees−0.354%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.041% dearer against GMX than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of +0.047%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX GOLD/USD [ETH-USDC]	4,322.6	L +0.0462% / S −0.0307%	pay 0.0058% / 1h	23m 04s	$252K	—	111x
Short	HTX XAU-USDT	4,326.4	0.0262	get 0.0131% / 4h	1h 23m	$2.8M	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GMX. 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 GMXbpFee HTXbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$41.87
Price spread: +0.087% → +0.047%: $4.08
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$61.79
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 1 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell HTX live order book, 1 min ago	0.75 bp	7.7 bp −$8	10.2 bp −$102	14.3 bp −$1,435	22.0 bp −$11.0K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bluefin GOLD-PERP	−0.0064%	1h	4,316.8	−0.135%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.6	+0.093%	$92K	$7.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.3	−0.099%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0013%	4h	4,324.3	+0.039%	$77.4M	$154.8M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.643%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.4	+0.018%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322	−0.014%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.8	+0.745%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,318.9	−0.086%	$291.5M	$51.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,318.4	−0.098%	$15.0M	$55.3M	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	+0.0064%	1h	4,321.6	−0.024%	$20.3M	$30.6M	25x	as long as short
Aster XAUUSD1	+0.0067%	4h	4,324.9	+0.053%	$72.5M	$276.1M	20x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,318.6	−0.093%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.4	−0.074%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0075%	8h	4,322.3	−0.007%	$2K	$13K	5x	as long as short
Kalshi KXGOLDPERP	+0.0078%	24h	4,324.1	+0.035%	$3.8M	$43.7M	15x	as long as short
GRVT XAU_USDT_Perp	+0.0082%	4h	4,323.1	+0.012%	$1.4M	$3.0M	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,319	−0.084%	$12.9M	$37.0M	25x	as long as short
Variational Omni XAU	+0.0090%	4h	4,322.1	−0.011%	$47.3M	$28.9M	—	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,322.7	+0.002%	$362.0M	$331.0M	1000x	as long as short
Binance XAUUSDT	+0.0097%	4h	4,323.3	+0.016%	$417.2M	$2.12B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,319.6	−0.070%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.4	−0.074%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.8	−0.064%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.9	−0.016%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0108%	4h	4,318.8	−0.089%	$30.0M	$59.5M	50x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,324.4	+0.041%	$280.9M	$419.1M	100x	as long as short
Lighter RH XAU	+0.0112%	1h	4,324.3	+0.038%	$19.8M	$38.9M	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,319.7	−0.068%	$584K	$135K	25x	as long as short
Bullet GOLD-USD	+0.0180%	1h	4,322.6	0.000%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,325.2	+0.060%	$4.1M	$12.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0210%	1h	4,322.6	0.000%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0222%	4h	4,323.2	+0.015%	$67.7M	$118.0M	100x	as long as short
HTX XAU-USDTshort	+0.0262%	4h	4,326.4	+0.087%	$2.8M	$4.9M	75x
OKX XAU-USDT-SWAP	+0.0303%	8h	4,323.6	+0.023%	$171.9M	$298.4M	100x	as long as short
Phemex XAUUSDT	+0.0326%	4h	4,325.4	+0.064%	$2.2M	$967K	100x	as long as short
BloFin XAU-USDT	+0.0337%	4h	4,322.7	+0.002%	$16.2M	$4.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0352%	1h	4,321.5	−0.026%	$191K	$836K	25x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0462% / S −0.0307%	1h	4,322.6	long leg	$252K	—	111x