Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0066%/8h= +7.3% APRpaid last 24h +0.023%

Price spread now: Binance against Injective−0.689%107s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

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—needs both histories

Funding pays, the price is against you. Binance is 0.689% cheaper against Injective than usual: you would sell low and buy high (spread −0.689% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$69 on $10k: about 35 days of funding at the current rate (+$2 a day). The two prices were read 107 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	Injective XAU/USDC PERP	4,350.4	0.0033	pay 0.0004% / 1h	51m 37s	$619	$54	52x
Short	Binance XAUUSDT	4,320.5	0.0100	get 0.0050% / 4h	1h 51m	$413.2M	$2.13B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −0.689%Rate

Funding earned: $13.96
Price spread: −0.689% → 0.000%: −$68.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$64.95
Costs to cover: 0.100%
Break-even: 39.6 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 7 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.8 bp −$581	11.7 bp −$5,849

Injective: 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	−0.0032%	1h	4,316.5	−0.779%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.9	−0.542%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.4	−0.736%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,321.3	−0.669%	$77.3M	$157.3M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,316.1	−0.789%	$13.1M	$36.7M	25x	as long as short
Injective XAU/USDC PERPlong	+0.0033%	1h	4,350.4	long leg	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,325	−0.584%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,319.4	−0.713%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.3	+0.066%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,318.6	−0.731%	$20.3M	$30.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,317.1	−0.766%	$291.3M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,316.4	−0.781%	$15.0M	$55.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,319.8	−0.704%	$32K	—	25x	as long as short
Kalshi KXGOLDPERP	+0.0069%	24h	4,324.7	−0.591%	$3.9M	$42.9M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.4	−0.690%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,320.1	−0.698%	$19K	$5K	5x	as long as short
Gate XAU_USDT	+0.0078%	4h	4,322.3	−0.646%	$273.6M	$406.8M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0080%	4h	4,323.7	−0.613%	$1.4M	$3.0M	25x	as long as short
Aster XAUUSD1	+0.0080%	4h	4,321.2	−0.671%	$72.3M	$314.0M	20x	as long as short
Variational Omni XAU	+0.0089%	4h	4,326.3	−0.554%	$47.1M	$29.2M	—	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,320	−0.700%	$361.4M	$325.3M	1000x	as long as short
Binance XAUUSDTshort	+0.0100%	4h	4,320.5	−0.689%	$413.2M	$2.13B	100x
Phoenix GOLD	+0.0100%	1h	4,320.2	−0.695%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,316.2	−0.787%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.8	−0.704%	$272K	$208K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,321.3	−0.669%	$19.8M	$38.3M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.9	−0.654%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,319.3	−0.716%	$30.1M	$60.8M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.2	−0.695%	$588K	$130K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,321.8	−0.658%	$4.2M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0200%	1h	4,323.2	−0.626%	$59K	$81K	10x	as long as short
HTX XAU-USDT	+0.0211%	4h	4,326.2	−0.556%	$2.8M	$4.9M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,320.2	−0.695%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,320.6	−0.685%	$68.0M	$119.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0316%	8h	4,321.3	−0.669%	$170.2M	$296.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0329%	1h	4,321.8	−0.658%	$193K	$830K	25x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,323.3	−0.624%	$16.1M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0400%	4h	4,326.8	−0.543%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,322.6	−0.638%	$252K	—	111x	as long as short