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: Lighter against Polymarket Perps+0.007%45s7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as 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−$100.105% of the position

Long on Polymarket Perps Short on Lighter

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+0.031%+$3 · spread now +0.007%, 7d avg +0.030%

Together, before fees+0.073%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.023% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.030%). Swap the legs. The two prices were read 45 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	Polymarket Perps GOLD-USD	4,374.6	0.0108	pay 0.0013% / 1h	45m 37s	$4.3M	$1.8M	20x
Short	Lighter XAU	4,374.9	0.0072	get 0.0009% / 1h	45m 37s	$20.8M	$43.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$7.54
Price spread: +0.007% → +0.030%: −$2.33
Slippage, 4 orders: −$2.46
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.34
Costs to cover: 0.105%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Lighter: live order book, 8 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 Polymarket Perps live order book, 3 min ago	0.11 bp	4.1 bp −$4	4.2 bp −$42	5.1 bp −$509	doesn't fit
Sell Lighter live order book, 8 min ago	0.45 bp	0.7 bp −$1	1.5 bp −$15	10.1 bp −$1,007	23.3 bp −$11.6K

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	−0.120%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376	+0.033%	$71.2M	$207.5M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.1	+0.033%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.6	+0.046%	$266.2M	$410.3M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,376.1	+0.035%	$375.8M	$321.6M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	+0.012%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,372.2	−0.055%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380.2	+0.128%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.6	−0.070%	$268K	—	250x	as long as short
Bitget XAUUSDT	+0.0008%	4h	4,376.3	+0.039%	$69.7M	$113.9M	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	−0.078%	$30.4M	$60.2M	50x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,372.6	−0.046%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.553%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.4	+0.041%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.011%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.6	+0.800%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,376	+0.032%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.3	−0.053%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.5	−0.072%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	+0.016%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,375.7	+0.024%	$19K	$5K	5x	as long as short
Lighter XAUshort	+0.0072%	1h	4,374.9	+0.007%	$20.8M	$43.4M	25x
Aevo XAU-PERP	+0.0080%	1h	4,375	+0.008%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0088%	1h	4,377.3	+0.062%	$20.3M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	−0.055%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.043%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	−0.032%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USDlong	+0.0108%	1h	4,374.6	long leg	$4.3M	$1.8M	20x
Extended XAU-USD	+0.0120%	1h	4,371.8	−0.065%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.042%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0162%	1h	4,374	−0.014%	$236K	$655K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,378.4	+0.087%	$166.3M	$287.1M	100x	as long as short
Bybit XAUUSDT	+0.0182%	4h	4,376.8	+0.050%	$83.4M	$144.5M	150x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	+0.023%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.2	−0.031%	$596K	$146K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	+0.005%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376	+0.031%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0474%	4h	4,378.2	+0.083%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,380.4	+0.132%	$2.9M	$3.8M	75x	as long as short