Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: tradeXYZ against Ondo Perps+0.003%7-day average +0.045% · you sell dearer than you buy

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

Long on Ondo Perps Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days+0.207%+$21 · spread now +0.003%, 7d avg +0.045%

Together, before fees+0.270%+ Points / potential airdropOndo Perps: Active · tradeXYZ: Active · farm board+$27 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: tradeXYZ is 0.042% cheaper against Ondo Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,345.3	0.0050	pay 0.0006% / 1h	59m 22s	$15.1M	$56.8M	25x
Short	tradeXYZ xyz:GOLD	4,345.4	0.0050	get 0.0006% / 1h	59m 22s	$293.9M	$48.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Ondo Perps. 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 Ondo PerpsbpFee tradeXYZbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$0.08
Price spread: +0.003% → +0.045%: −$4.23
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$27.31
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; tradeXYZ: live order book, 11 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 11 min ago	0.12 bp	9.1 bp −$9	9.3 bp −$93	11.6 bp −$1,162	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4,348.7	+0.080%	$3.4M	$12.2M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352.3	+0.162%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.9	−0.031%	$266K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,345.6	+0.008%	$33K	—	25x	as long as short
Gate XAU_USDT	+0.0008%	4h	4,349.7	+0.102%	$265.1M	$406.7M	100x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.9	−0.031%	$13.4M	$38.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.119%	$619	$54	52x	as long as short
Bluefin GOLD-PERP	+0.0033%	1h	4,342.4	−0.067%	$25K	$14K	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.070%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0042%	24h	4,345.4	+0.003%	$4.1M	$37.1M	15x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0044%	4h	4,348.8	+0.082%	$70.9M	$334.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,381.3	+0.829%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,348.3	+0.070%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,347.7	+0.056%	$20.6M	$37.5M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.2	−0.024%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLDshort	+0.0050%	1h	4,345.4	+0.003%	$293.9M	$48.9M	25x
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,345.3	long leg	$15.1M	$56.8M	25x
Lighter RH XAU	+0.0056%	1h	4,349.7	+0.103%	$20.1M	$40.0M	25x	as long as short
Variational Omni XAU	+0.0061%	4h	4,347.3	+0.046%	$48.4M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0064%	4h	4,348.1	+0.066%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0076%	4h	4,348.2	+0.067%	$371.1M	$314.3M	1000x	as long as short
Binance XAUUSDT	+0.0079%	4h	4,348.1	+0.066%	$411.2M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,348.7	+0.078%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0089%	4h	4,343	−0.051%	$30.2M	$58.7M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	+0.001%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.7	+0.011%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347.6	+0.053%	$161K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0125%	1h	4,347.6	+0.054%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,345.3	+0.001%	$47K	$76K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,345.4	+0.004%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0199%	4h	4,349.6	+0.101%	$2.2M	$972K	100x	as long as short
Bullet GOLD-USD	+0.0205%	1h	4,348.4	+0.072%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0214%	4h	4,349.4	+0.096%	$84.3M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0220%	4h	4,348.3	+0.070%	$70.2M	$109.5M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0266%	8h	4,349.6	+0.100%	$165.5M	$283.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0279%	1h	4,346.6	+0.031%	$268K	$768K	25x	as long as short
BloFin XAU-USDT	+0.0308%	4h	4,347.6	+0.054%	$15.7M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0407% / S −0.0222%	1h	4,348.1	+0.065%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0599%	4h	4,353.5	+0.191%	$2.9M	$4.3M	75x	as long as short