Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0449%/8h= −49.1% APRpaid last 24h +0.034%

Price spread now: Bitget against RISEx+0.005%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$200.195% of the position

Long on RISEx Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.037%+$4 on $10k

Price spread, last 7 days−0.003%$0 · spread now +0.005%, 7d avg +0.006%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.037% in total (about 3.6% 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	RISEx XAU/USDC	4,325.7	0.0643	pay 0.0080% / 1h	33m 31s	$4.6M	$13.3M	25x
Short	Bitget XAUUSDT	4,325.9	0.0194	get 0.0097% / 4h	33m 31s	$70.1M	$118.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against RISEx. 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 RISExbpFee BitgetbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$94.25
Price spread: +0.005% → +0.006%: −$0.13
Slippage, 4 orders: −$1.5
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$113.88
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Bitget: live order book, 6 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 RISEx live order book, 1 min ago	0.01 bp	3.0 bp −$3	3.9 bp −$39	33.6 bp −$3,357	doesn't fit
Sell Bitget live order book, 6 min ago	0.01 bp	6.0 bp −$6	6.7 bp −$67	11.8 bp −$1,177	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
Bluefin GOLD-PERP	−0.0105%	1h	4,320.7	−0.116%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	−0.0096%	1h	4,322.5	−0.073%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,330.5	+0.112%	$92K	$7.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,322.7	−0.068%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.572%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.2	+0.036%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,324.6	−0.024%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358.1	+0.750%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,322.6	−0.071%	$291.8M	$51.5M	25x	as long as short
Bybit XAUUSDT	+0.0050%	4h	4,327	+0.031%	$77.6M	$152.8M	150x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.7	−0.091%	$15.0M	$55.6M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,327	+0.032%	$72.9M	$272.0M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,324.8	−0.019%	$20.5M	$29.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0066%	8h	4,324.8	−0.019%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322	−0.085%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.9	−0.018%	$47.2M	$29.3M	—	as long as short
Kalshi KXGOLDPERP	+0.0092%	24h	4,327.8	+0.049%	$3.8M	$44.6M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,323.3	−0.055%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,326	+0.009%	$363.4M	$327.4M	1000x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.1	−0.082%	$1.4M	$1.2M	10x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,326.8	+0.026%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.7	−0.068%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,325.8	+0.003%	$425.2M	$2.13B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.8	+0.002%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,327.9	+0.051%	$285.2M	$416.1M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,323.1	−0.060%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,327.7	+0.047%	$20.0M	$39.1M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,321.8	−0.089%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDTshort	+0.0194%	4h	4,325.9	+0.005%	$70.1M	$118.6M	100x
Bullet GOLD-USD	+0.0205%	1h	4,326.5	+0.018%	$58K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,325.2	−0.011%	$163K	$871K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,326	+0.008%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,324.1	−0.036%	$578K	$135K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0276%	8h	4,326.8	+0.026%	$173.9M	$299.1M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,325.8	+0.003%	$16.4M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0361%	4h	4,328.9	+0.076%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0415%	4h	4,331.9	+0.143%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,326.1	+0.011%	$253K	—	111x	as long as short
RISEx XAU/USDClong	+0.0643%	1h	4,325.7	long leg	$4.6M	$13.3M	25x