Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0493%/8h= +53.9% APRpaid last 24h +0.024%

Price spread now: HTX against Lighter RH+0.104%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 3 days (all we have)−0.085%−$9 · spread now +0.104%, 7d avg +0.034%

Together, before fees−0.041%+ Points / potential airdropLighter RH: Points live · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and HTX is 0.070% dearer against Lighter RH than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.034%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.044% in total (about 2.3% 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 RH XAU	4,355.4	0.0064	pay 0.0008% / 1h	13m 29s	$20.1M	$41.0M	25x
Short	HTX XAU-USDT	4,359.9	0.0557	get 0.0278% / 4h	2h 13m	$2.9M	$3.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.104%Rate

Funding earned: $103.45
Price spread: +0.104% → +0.034%: $6.97
Slippage, 4 orders: −$6.44
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $91.98
Costs to cover: 0.184%
Break-even: 0.8 days

Slippage from Lighter RH: live order book, 6 min ago; HTX: live order book, just now.

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, 6 min ago	1.00 bp	1.3 bp −$1	1.7 bp −$17	16.6 bp −$1,665	doesn't fit
Sell HTX live order book, just now	0.01 bp	8.9 bp −$9	14.2 bp −$142	18.0 bp −$1,798	28.3 bp −$14.2K

XAU on 38 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
Gate XAU_USDT	0.0000%	4h	4,355.5	+0.003%	$263.4M	$414.1M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,358.7	+0.075%	$93K	$9.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,350.8	−0.106%	$269K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,351.2	−0.096%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,350.1	−0.122%	$13.5M	$41.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.114%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0034%	24h	4,352	−0.078%	$4.1M	$36.1M	15x	as long as short
Aster XAUUSD1	+0.0035%	4h	4,353.9	−0.035%	$70.4M	$300.7M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.7	+0.076%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.7	+0.719%	—	$1.0M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,351.4	−0.092%	$294.1M	$48.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,349.7	−0.131%	$14.9M	$58.0M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,353.6	−0.041%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0056%	1h	4,352.9	−0.058%	$20.6M	$43.7M	25x	as long as short
Lighter RH XAUlong	+0.0064%	1h	4,355.4	long leg	$20.1M	$41.0M	25x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,349.1	−0.145%	$2.0M	$5.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0076%	1h	4,352.2	−0.073%	$4.3M	$1.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,353.8	−0.036%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0086%	4h	4,356	+0.015%	$48.2M	$28.1M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,351.4	−0.092%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.6	−0.064%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348	−0.171%	$25K	$14K	20x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,353.9	−0.035%	$375.8M	$324.0M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,353.9	−0.035%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0105%	4h	4,353	−0.055%	$409.0M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,351.9	−0.081%	$30.3M	$60.0M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0120%	4h	4,355.1	−0.007%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0121%	1h	4,356.9	+0.034%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,352.9	−0.058%	$3.4M	$12.4M	25x	as long as short
Bullet GOLD-USD	+0.0168%	1h	4,354.6	−0.018%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0180%	4h	4,353.3	−0.048%	$83.7M	$144.2M	150x	as long as short
Bitget XAUUSDT	+0.0186%	4h	4,353	−0.055%	$69.5M	$109.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,353.7	−0.039%	$250K	$679K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0239%	8h	4,354.1	−0.030%	$164.9M	$281.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.7	−0.085%	$593K	$139K	25x	as long as short
Phemex XAUUSDT	+0.0373%	4h	4,357.9	+0.058%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0391% / S −0.0197%	1h	4,355	−0.009%	$251K	—	111x	as long as short
HTX XAU-USDTshort	+0.0557%	4h	4,359.9	+0.104%	$2.9M	$3.9M	75x