Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h +0.002%

Price spread now: Variational Omni against Lighter RH+0.153%7-day average +0.011% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days−0.128%−$13 · spread now +0.153%, 7d avg +0.011%

Together, before fees−0.137%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.141% dearer against Lighter RH than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAU	4,309.9	0.0104	pay 0.0013% / 1h	6m 40s	$19.9M	$40.2M	25x
Short	Variational Omni XAU	4,316.5	0.0100	get 0.0050% / 4h	6m 40s	$47.1M	$29.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.153%Rate

Funding earned: −$0.93
Price spread: +0.153% → +0.011%: $14.13
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.2
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 2 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 2 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	19.4 bp −$1,938	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.54 bp	doesn't fit	1.5 bp −$15	3.7 bp −$365	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
SunX XAU-USDT	0.0000%	4h	4,312.3	+0.057%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,304	−0.138%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.940%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,307.1	−0.065%	$5.7M	$2.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,340.1	+0.701%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,304.2	−0.132%	$290.0M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,304.1	−0.135%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,309.2	−0.017%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,307.7	−0.052%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0068%	1h	4,303.1	−0.157%	$25K	$1K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0071%	4h	4,308.6	−0.030%	$77.3M	$155.4M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,306.9	−0.071%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,304.3	−0.130%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.093%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0099%	24h	4,309.5	−0.009%	$3.6M	$45.3M	15x	as long as short
Variational Omni XAUshort	+0.0100%	4h	4,316.5	+0.153%	$47.1M	$29.0M	—
Pacifica XAU	+0.0100%	1h	4,304.3	−0.130%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.084%	$272K	$209K	50x	as long as short
Lighter RH XAUlong	+0.0104%	1h	4,309.9	long leg	$19.9M	$40.2M	25x
Extended XAU-USD	+0.0104%	1h	4,303.8	−0.140%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,307.8	−0.048%	$366.8M	$340.5M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,308.5	−0.032%	$429.1M	$2.16B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.143%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,307.2	−0.063%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0116%	4h	4,309.4	−0.012%	$284.7M	$430.2M	100x	as long as short
StandX XAU-USD	+0.0118%	1h	4,313.1	+0.074%	$3.8M	$4.5M	40x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,303.9	−0.139%	$32K	—	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.076%	$30.0M	$59.8M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,307.9	−0.045%	$70.4M	$121.4M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,307.5	−0.055%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,307.4	−0.058%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0229%	1h	4,305	−0.113%	$573K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0238%	1h	4,307.3	−0.060%	$136K	$864K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,308.1	−0.042%	$175.2M	$304.9M	100x	as long as short
BloFin XAU-USDT	+0.0371%	4h	4,308.4	−0.034%	$16.5M	$5.0M	100x	as long as short
Phemex XAUUSDT	+0.0455%	4h	4,312.2	+0.053%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,307.9	−0.047%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0540%	4h	4,314.3	+0.102%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	−0.059%	$4.5M	$13.1M	25x	as long as short