Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0494%/8h= −54.0% APRpaid last 24h −0.024%

Price spread now: Lighter RH against HTX−0.069%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on HTX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.069%, 7d avg −0.033%

Together, before fees+0.004%+ Points / potential airdropLighter RH: Points live · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Lighter RH is 0.036% cheaper against HTX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,380.4	0.0582	pay 0.0291% / 4h	3h 45m	$2.9M	$3.8M	75x
Short	Lighter RH XAU	4,377.3	0.0088	get 0.0011% / 1h	45m 16s	$20.3M	$40.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against HTX. 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 HTXbpFee Lighter RHbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$103.66
Price spread: −0.069% → −0.033%: −$3.58
Slippage, 4 orders: −$6.4
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$125.63
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Lighter RH: live order book, 4 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 HTX live order book, 4 min ago	0.01 bp	7.7 bp −$8	12.2 bp −$122	28.9 bp −$2,886	doesn't fit
Sell Lighter RH live order book, 4 min ago	1.07 bp	1.1 bp −$1	1.1 bp −$11	4.2 bp −$423	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
Bluefin GOLD-PERP	−0.0105%	1h	4,368.8	−0.264%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0080%	1h	4,372	−0.191%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.1	−0.098%	$71.2M	$206.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.8	−0.105%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.5	−0.089%	$266.4M	$410.5M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.6	−0.108%	$375.7M	$321.6M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	−0.120%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,372.2	−0.186%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380	−0.008%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.4	−0.204%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	+0.0008%	4h	4,376	−0.100%	$69.7M	$113.9M	100x	as long as short
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.210%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.684%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376	−0.100%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	−0.120%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.8	+0.672%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,376	−0.099%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.8	−0.195%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.5	−0.203%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	−0.116%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,375.7	−0.107%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.9	−0.125%	$20.8M	$43.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	−0.122%	$162K	$87	10x	as long as short
Lighter RH XAUshort	+0.0088%	1h	4,377.3	−0.069%	$20.3M	$40.9M	25x
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	−0.186%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.175%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,374	−0.145%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0113%	1h	4,375.2	−0.118%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0128%	1h	4,371.3	−0.206%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	−0.090%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0175%	8h	4,377.5	−0.065%	$166.3M	$287.1M	100x	as long as short
Bybit XAUUSDT	+0.0182%	4h	4,376.5	−0.088%	$83.4M	$144.0M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0185%	1h	4,373.5	−0.157%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	−0.109%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.1	−0.166%	$596K	$145K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	−0.127%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.6	−0.109%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0474%	4h	4,378.2	−0.048%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDTlong	+0.0582%	4h	4,380.4	long leg	$2.9M	$3.8M	75x