Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0202%/8h= +22.1% APRpaid last 24h +0.044%

Price spread now: Bitget against Lighter+0.023%7-day average +0.056% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.023%, 7d avg +0.056%

Together, before fees+0.070%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.033% cheaper against Lighter than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.056%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.069% in total) that is about 3.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.069% in total (about 3.6% 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	Lighter XAU	4,347.3	0.0032	pay 0.0004% / 1h	37m 01s	$20.8M	$37.8M	25x
Short	Bitget XAUUSDT	4,348.3	0.0234	get 0.0117% / 4h	37m 01s	$70.0M	$109.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.023%Rate

Funding earned: $42.42
Price spread: +0.023% → +0.056%: −$3.31
Slippage, 4 orders: −$1.86
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $25.24
Costs to cover: 0.139%
Break-even: 2.8 days

Slippage from Lighter: live order book, 7 min ago; Bitget: live order book, 2 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, 7 min ago	0.60 bp	0.6 bp −$1	1.5 bp −$15	7.1 bp −$708	18.0 bp −$9,014
Sell Bitget live order book, 2 min ago	0.01 bp	6.0 bp −$6	7.5 bp −$75	12.3 bp −$1,232	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
RISEx XAU/USDC	0.0000%	1h	4,347.3	−0.001%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.2	+0.089%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.2	−0.094%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0012%	4h	4,349.2	+0.043%	$267.8M	$411.3M	100x	as long as short
Lighter XAUlong	+0.0032%	1h	4,347.3	long leg	$20.8M	$37.8M	25x
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.094%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.072%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.3	+0.045%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.046%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.3	−0.023%	$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
Kalshi KXGOLDPERP	+0.0044%	24h	4,346.2	−0.026%	$4.1M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.7	+0.768%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.3	−0.069%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.3	−0.046%	$293.8M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.4	−0.089%	$15.1M	$56.7M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,348.5	+0.028%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0079%	4h	4,348.9	+0.037%	$48.4M	$27.7M	—	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,348.7	+0.031%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	+0.041%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,347.2	−0.003%	$372.3M	$317.1M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,348.1	+0.017%	$414.3M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,343.6	−0.085%	$30.2M	$58.2M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.9	−0.055%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.7	+0.009%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347	−0.007%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	0.000%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,345.8	−0.035%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0154%	1h	4,346.4	−0.021%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,344.2	−0.072%	$592K	$132K	25x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,347.2	−0.003%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0208%	4h	4,351.1	+0.086%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,345.6	−0.039%	$243K	$788K	25x	as long as short
Bitget XAUUSDTshort	+0.0234%	4h	4,348.3	+0.023%	$70.0M	$109.2M	100x
Bybit XAUUSDT	+0.0238%	4h	4,349.8	+0.057%	$85.1M	$144.9M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0284%	8h	4,349.9	+0.060%	$165.6M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0347%	4h	4,348	+0.015%	$15.6M	$4.5M	100x	as long as short
Bluefin GOLD-PERP	+0.0405%	1h	4,340.9	−0.148%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0230%	1h	4,347.2	−0.003%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0628%	4h	4,353.6	+0.144%	$2.9M	$4.3M	75x	as long as short