Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.008%

Price spread now: Aster against Lighter+0.069%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$90.094% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.069%, 7d avg +0.053%

Together, before fees−0.060%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,349.4	0.0056	pay 0.0007% / 1h	44m 42s	$20.7M	$30.4M	25x
Short	Aster XAUUSD1	4,352.3	0.0105	get 0.0053% / 4h	2h 44m	$71.6M	$331.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.069%Rate

Funding earned: $10.32
Price spread: +0.069% → +0.053%: $1.58
Slippage, 4 orders: −$1.41
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $2.49
Costs to cover: 0.094%
Break-even: 5.3 days

Slippage from Lighter: live order book, 9 min ago; Aster: 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 Lighter live order book, 9 min ago	0.50 bp	0.5 bp $0	1.8 bp −$18	7.4 bp −$742	18.8 bp −$9,382
Sell Aster live order book, 4 min ago	0.01 bp	4.0 bp −$4	4.7 bp −$47	33.2 bp −$3,320	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	−0.0046%	1h	4,344.4	−0.113%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.9	+0.128%	$93K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.7	−0.060%	$272K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,347.4	−0.045%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.3	−0.070%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.024%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.3	+0.045%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,348.9	−0.011%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.4	+0.783%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.1	−0.052%	$293.7M	$49.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,346.6	−0.064%	$15.1M	$56.7M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,350.8	+0.033%	$3.7M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0055%	24h	4,349.5	+0.003%	$4.2M	$39.4M	15x	as long as short
Lighter XAUlong	+0.0056%	1h	4,349.4	long leg	$20.7M	$30.4M	25x
Paradex XAU-USD-PERP	+0.0070%	8h	4,350.2	+0.020%	$19K	$5K	5x	as long as short
Gate XAU_USDT	+0.0072%	4h	4,351.7	+0.054%	$271.8M	$397.7M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,348.6	−0.017%	$2.1M	$4.7M	25x	as long as short
Bybit XAUUSDT	+0.0075%	4h	4,351.3	+0.044%	$80.2M	$151.7M	150x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.5	−0.065%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	−0.055%	$277K	$204K	50x	as long as short
Aster XAUUSD1short	+0.0105%	4h	4,352.3	+0.069%	$71.6M	$331.1M	20x
Variational Omni XAU	+0.0107%	4h	4,349.4	+0.001%	$48.5M	$27.6M	—	as long as short
Lighter RH XAU	+0.0112%	1h	4,351.7	+0.054%	$20.1M	$38.2M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,349.5	+0.003%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,350.2	+0.020%	$370.1M	$318.0M	1000x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,349.2	−0.004%	$203K	$822K	25x	as long as short
Binance XAUUSDT	+0.0118%	4h	4,350.2	+0.020%	$418.8M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0119%	4h	4,346.1	−0.074%	$30.2M	$58.2M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0120%	4h	4,350.4	+0.025%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.4	−0.045%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,350.5	+0.027%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0168%	1h	4,350.3	+0.022%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0197%	4h	4,352.9	+0.082%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0246%	1h	4,347.4	−0.046%	$591K	$128K	25x	as long as short
HTX XAU-USDT	+0.0261%	4h	4,352.4	+0.069%	$2.8M	$4.6M	75x	as long as short
Bitget XAUUSDT	+0.0280%	4h	4,350.8	+0.032%	$71.6M	$107.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0336%	8h	4,351.8	+0.056%	$168.3M	$282.2M	100x	as long as short
BloFin XAU-USDT	+0.0370%	4h	4,349.3	−0.003%	$15.9M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,350.6	+0.028%	$251K	—	111x	as long as short