Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.020%

Price spread now: Binance against Lighter+0.036%7-day average +0.055% · 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−$13as in the Price arb table

costs, in and out, $10k−$110.115% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.036%, 7d avg +0.055%

Together, before fees−0.010%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.055%, 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	4,345.7	0.0056	pay 0.0007% / 1h	46m 13s	$20.6M	$41.9M	25x
Short	Binance XAUUSDT	4,347.3	0.0098	get 0.0049% / 4h	1h 46m	$411.2M	$2.10B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.036%Rate

Funding earned: $8.84
Price spread: +0.036% → +0.055%: −$1.87
Slippage, 4 orders: −$1.46
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$4.49
Costs to cover: 0.115%
Break-even: 10.6 days

Slippage from Lighter: live order book, 13 min ago; Binance: live order book, 13 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, 13 min ago	0.61 bp	0.8 bp −$1	1.8 bp −$18	8.3 bp −$833	19.0 bp −$9,517
Sell Binance live order book, 13 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.0 bp −$602	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
Hotstuff GOLD-PERP	−0.0016%	1h	4,344.4	−0.030%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,348.9	+0.072%	$264.7M	$407.3M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.7	+0.138%	$92K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.7	−0.070%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.2	+0.034%	$3.4M	$12.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0012%	1h	4,341.9	−0.087%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.6	−0.071%	$13.6M	$39.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.108%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0037%	24h	4,344.5	−0.028%	$4.2M	$36.4M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.059%	$3.8M	$4.6M	40x	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	4,380.1	+0.791%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,346.8	+0.025%	$5.6M	$1.9M	20x	as long as short
Aster XAUUSD1	+0.0047%	4h	4,348	+0.051%	$70.0M	$331.4M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.1	−0.037%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.6	−0.026%	$293.3M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.8	−0.045%	$15.1M	$57.7M	25x	as long as short
Lighter XAUlong	+0.0056%	1h	4,345.7	long leg	$20.6M	$41.9M	25x
Lighter RH XAU	+0.0080%	1h	4,348.3	+0.060%	$20.1M	$39.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,346.7	+0.022%	$19K	$5K	5x	as long as short
Binance XAUUSDTshort	+0.0098%	4h	4,347.3	+0.036%	$411.2M	$2.10B	100x
Pacifica XAU	+0.0100%	1h	4,344.1	−0.037%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,347.3	+0.036%	$371.2M	$316.6M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344	−0.039%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,347.9	+0.050%	$48.3M	$27.9M	—	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.6	+0.020%	$161K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0118%	4h	4,349.4	+0.086%	$1.4M	$3.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,346.4	+0.016%	$4.3M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,342.6	−0.072%	$30.2M	$58.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,347.8	+0.048%	$47K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0201%	4h	4,348.5	+0.064%	$84.4M	$145.1M	150x	as long as short
Bitget XAUUSDT	+0.0208%	4h	4,347.5	+0.041%	$69.6M	$109.3M	100x	as long as short
Bullet GOLD-USD	+0.0210%	1h	4,347.4	+0.039%	$58K	$83K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0248%	8h	4,347.9	+0.050%	$164.3M	$282.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,343.9	−0.042%	$593K	$133K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0349%	1h	4,345.5	−0.005%	$259K	$704K	25x	as long as short
Phemex XAUUSDT	+0.0353%	4h	4,350.2	+0.103%	$2.2M	$1.1M	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,347.8	+0.048%	—	$4.7M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0399% / S −0.0209%	1h	4,347.4	+0.038%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0574%	4h	4,353	+0.167%	$2.8M	$4.2M	75x	as long as short