XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.04 per $10,000 · paid last 24h +0.016%

Price spread now: Polymarket Perps against Lighter−0.008%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

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

costs, in and out, $10k−$100.105% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days−0.030%−$3 · spread now −0.008%, 7d avg −0.030%

Together, before fees−0.072%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Polymarket Perps is 0.023% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,374.9	0.0072	pay 0.0009% / 1h	46m 00s	$20.8M	$43.4M	25x
Short	Polymarket Perps GOLD-USD	4,374.6	0.0108	get 0.0013% / 1h	46m 00s	$4.3M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.008%Rate

Funding earned: $7.54
Price spread: −0.008% → −0.030%: $2.27
Slippage, 4 orders: −$2.46
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$0.65
Costs to cover: 0.105%
Break-even: 7.6 days

Slippage from Lighter: live order book, 8 min ago; Polymarket Perps: live order book, 3 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, 8 min ago	0.45 bp	0.4 bp $0	1.9 bp −$19	7.8 bp −$782	19.0 bp −$9,525
Sell Polymarket Perps live order book, 3 min ago	0.11 bp	5.2 bp −$5	5.8 bp −$58	6.3 bp −$633	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	4,369.4	−0.127%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,375.7	+0.016%	$71.2M	$207.5M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376	+0.025%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.2	+0.029%	$266.4M	$410.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.4	+0.010%	$374.2M	$321.4M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	+0.004%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,372.2	−0.062%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380.2	+0.120%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.6	−0.077%	$268K	—	250x	as long as short
Bitget XAUUSDT	+0.0006%	4h	4,376	+0.025%	$69.7M	$114.0M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.086%	$30.4M	$60.2M	50x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,372.6	−0.053%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.560%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.4	+0.034%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.004%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.6	+0.792%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.8	+0.021%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.9	−0.069%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.1	−0.088%	$14.7M	$57.4M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	+0.008%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,375.2	+0.006%	$19K	$5K	5x	as long as short
Lighter XAUlong	+0.0072%	1h	4,374.9	long leg	$20.8M	$43.4M	25x
Lighter RH XAU	+0.0080%	1h	4,376.5	+0.037%	$20.3M	$40.9M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	+0.001%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	−0.062%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.5	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	−0.040%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USDshort	+0.0108%	1h	4,374.6	−0.008%	$4.3M	$1.8M	20x
Extended XAU-USD	+0.0120%	1h	4,371.3	−0.083%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.034%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0162%	1h	4,374	−0.021%	$236K	$655K	25x	as long as short
Bybit XAUUSDT	+0.0168%	4h	4,376.7	+0.040%	$83.4M	$144.5M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,377.7	+0.063%	$166.3M	$287.4M	100x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	+0.015%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.2	−0.038%	$596K	$146K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	−0.003%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376	+0.024%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0474%	4h	4,378.2	+0.076%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,380.4	+0.124%	$2.9M	$3.8M	75x	as long as short