Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0176%/8h= +19.2% APRpaid last 24h +0.019%

Price spread now: Bybit against Hotstuff+0.066%53s7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bybit is 0.066% dearer against Hotstuff than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	Hotstuff GOLD-PERP	4,344.5	0.0064	pay 0.0008% / 1h	12m 41s	$33K	—	25x
Short	Bybit XAUUSDT	4,347.4	0.0240	get 0.0120% / 4h	12m 41s	$85.1M	$145.4M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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 HotstuffbpFee BybitbpOrdersPrice spread, now +0.066%Rate

Funding earned: $36.91
Price spread: +0.066% → 0.000%: $6.56
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $27.47
Costs to cover: 0.160%
Break-even: 1.8 days

Slippage unknown: Hotstuff: no order-book sample; Bybit: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.01 bp	5.5 bp −$6	6.4 bp −$64	10.4 bp −$1,041	33.9 bp −$17.0K

Hotstuff: 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
RISEx XAU/USDC	0.0000%	1h	4,346.5	+0.047%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,348.5	+0.091%	$265.4M	$417.1M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.3	+0.156%	$92K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.3	−0.028%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,345.1	+0.014%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343	−0.035%	$13.2M	$38.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.136%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,346.9	+0.056%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.087%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.3	+0.041%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380	+0.817%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343	−0.035%	$2.0M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0048%	24h	4,345.6	+0.025%	$4.2M	$37.4M	15x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.3	−0.028%	$293.8M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.8	−0.038%	$15.1M	$56.9M	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,347.4	+0.067%	$71.2M	$333.2M	20x	as long as short
Hotstuff GOLD-PERPlong	+0.0064%	1h	4,344.5	long leg	$33K	—	25x
Variational Omni XAU	+0.0075%	4h	4,349.4	+0.114%	$48.4M	$28.0M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,345.7	+0.029%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,346.5	+0.045%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0088%	4h	4,346.3	+0.041%	$372.3M	$319.4M	1000x	as long as short
Binance XAUUSDT	+0.0089%	4h	4,346.2	+0.040%	$413.4M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0099%	4h	4,343.2	−0.031%	$30.2M	$58.3M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.4	−0.025%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	−0.029%	$274K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,343.3	−0.027%	$25K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.2	+0.040%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,344.7	+0.005%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0160%	1h	4,347.1	+0.060%	$4.3M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,345.1	+0.014%	$206K	$824K	25x	as long as short
Bullet GOLD-USD	+0.0185%	1h	4,347.2	+0.061%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,343.7	−0.018%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0228%	4h	4,350	+0.128%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,346.6	+0.049%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDTshort	+0.0240%	4h	4,347.4	+0.066%	$85.1M	$145.4M	150x
OKX XAU-USDT-SWAP	+0.0296%	8h	4,348	+0.081%	$165.3M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0329%	4h	4,346.8	+0.053%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0418% / S −0.0238%	1h	4,347.2	+0.061%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0618%	4h	4,351.3	+0.156%	$2.8M	$4.6M	75x	as long as short