Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0029%/8h= +3.1% APRpaid last 24h +0.013%

Price spread now: edgeX against Lighter RH−0.219%80s7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 7 days+0.234%+$23 · spread now −0.219%, 7d avg −0.087%

Together, before fees+0.323%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.132% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.219% now, against its 7-day average of −0.087%). If the spread goes back, that is −$13 on $10k: about 15 days of funding at the current rate (+$1 a day). The two prices were read 80 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	Lighter RH XAU	4,359	0.0064	pay 0.0008% / 1h	23m 48s	$20.2M	$39.7M	25x
Short	edgeX XAUUSDC	4,349.4	0.0093	get 0.0046% / 4h	1h 23m	$30.3M	$58.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter RH. 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 Lighter RHbpFee edgeXbpOrdersPrice spread, now −0.219%Rate

Funding earned: $6.02
Price spread: −0.219% → −0.087%: −$13.18
Slippage, 4 orders: −$2.45
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$18.61
Costs to cover: 0.115%
Break-even: 28.6 days

Slippage from Lighter RH: live order book, 5 min ago; edgeX: live order book, 5 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 RH live order book, 5 min ago	0.36 bp	0.7 bp −$1	1.4 bp −$14	13.8 bp −$1,378	doesn't fit
Sell edgeX live order book, 5 min ago	0.34 bp	4.8 bp −$5	4.9 bp −$49	8.3 bp −$834	36.9 bp −$18.5K

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
SunX XAU-USDT	0.0000%	4h	4,363.2	+0.097%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.6	−0.100%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,359	+0.002%	$264.6M	$413.1M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,358.4	−0.012%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.9	−0.115%	$13.6M	$38.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.196%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,356.4	−0.059%	$4.1M	$37.0M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.9	−0.001%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,358.4	−0.014%	$70.6M	$334.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,392.1	+0.761%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,357.2	−0.040%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,355.7	−0.075%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.7	−0.098%	$294.2M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355	−0.092%	$15.1M	$57.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	−0.043%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,356.7	−0.052%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,355.6	−0.076%	$48.3M	$27.9M	—	as long as short
Lighter RH XAUlong	+0.0064%	1h	4,359	long leg	$20.2M	$39.7M	25x
Binance XAUUSDT	+0.0074%	4h	4,357.7	−0.029%	$412.0M	$2.10B	100x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,357.6	−0.032%	$372.0M	$318.9M	1000x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,358.8	−0.003%	$19K	$5K	5x	as long as short
edgeX XAUUSDCshort	+0.0093%	4h	4,349.4	−0.219%	$30.3M	$58.3M	50x
Aevo XAU-PERP	+0.0096%	1h	4,357.8	−0.027%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,355.1	−0.087%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.115%	$275K	$203K	50x	as long as short
Phemex XAUUSDT	+0.0119%	4h	4,357.8	−0.028%	$2.2M	$1.1M	100x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,355.2	−0.086%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0124%	1h	4,357.8	−0.026%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.3	−0.198%	$47K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0199%	4h	4,359.3	+0.008%	$84.5M	$145.4M	150x	as long as short
Bullet GOLD-USD	+0.0200%	1h	4,358.4	−0.013%	$60K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,357.8	−0.027%	$70.2M	$109.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,356.9	−0.047%	$278K	$727K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,359.2	+0.006%	$165.2M	$282.7M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355.5	−0.079%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0296%	4h	4,356.2	−0.063%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0213%	1h	4,358.4	−0.013%	$249K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0463%	1h	4,351.3	−0.176%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0566%	4h	4,364.4	+0.125%	$2.9M	$4.2M	75x	as long as short