Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.002%

Price spread now: Bybit against RISEx+0.031%7-day average +0.020% · 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−$18as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.031%, 7d avg +0.020%

Together, before fees−0.035%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XAU/USDC	4,340.1	0.0205	pay 0.0026% / 1h	59m 38s	$4.7M	$13.4M	25x
Short	Bybit XAUUSDT	4,341.5	0.0115	get 0.0057% / 4h	1h 59m	$81.6M	$173.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$19
Price spread: +0.031% → +0.020%: $1.17
Slippage, 4 orders: −$2.43
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.27
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from RISEx: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	1.20 bp	4.2 bp −$4	5.1 bp −$51	37.9 bp −$3,793	doesn't fit
Sell Bybit live order book, 3 min ago	0.01 bp	5.5 bp −$6	7.6 bp −$76	10.8 bp −$1,079	36.0 bp −$18.0K

XAU on 39 exchanges

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
Hotstuff GOLD-PERP	−2.8040%	1h	4,318.3	−0.502%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,345.8	+0.130%	$92K	$6.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,333	−0.164%	$279K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,335.6	−0.104%	$2.1M	$5.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.238%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,338.3	−0.042%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.6	−0.058%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,372.6	+0.749%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,337.1	−0.069%	$292.8M	$53.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,334.6	−0.128%	$15.0M	$58.6M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,339.1	−0.024%	$2K	$13K	5x	as long as short
Phoenix GOLD	+0.0076%	1h	4,330.5	−0.221%	$43K	$72K	25x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,342.1	+0.045%	$73.2M	$275.7M	20x	as long as short
Variational Omni XAU	+0.0091%	4h	4,335.3	−0.110%	$47.3M	$29.3M	—	as long as short
Lighter XAU	+0.0096%	1h	4,339.9	−0.005%	$20.3M	$30.7M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,336.6	−0.080%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.9	−0.212%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,334	−0.140%	$25K	$1K	20x	as long as short
Binance XAUUSDT	+0.0108%	4h	4,340.1	0.000%	$443.6M	$2.42B	100x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,340	−0.002%	$366.2M	$347.8M	1000x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,340.7	+0.013%	$301.2M	$438.9M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,336.8	−0.076%	$1.4M	$3.1M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,340	−0.003%	$161K	$87	10x	as long as short
Bybit XAUUSDTshort	+0.0115%	4h	4,341.5	+0.031%	$81.6M	$173.1M	150x
edgeX XAUUSDC	+0.0117%	4h	4,331.5	−0.199%	$30.3M	$66.8M	50x	as long as short
Kalshi KXGOLDPERP	+0.0134%	24h	4,340.9	+0.018%	$3.5M	$50.9M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0138%	1h	4,340.4	+0.007%	$4.3M	$1.7M	20x	as long as short
Lighter RH XAU	+0.0152%	1h	4,341.6	+0.034%	$19.7M	$39.3M	25x	as long as short
Extended XAU-USD	+0.0152%	1h	4,336.2	−0.090%	$12.6M	$34.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0188%	1h	4,339.8	−0.007%	$135K	$714K	25x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,341.3	+0.028%	$59K	$76K	10x	as long as short
RISEx XAU/USDClong	+0.0205%	1h	4,340.1	long leg	$4.7M	$13.4M	25x
Bitget XAUUSDT	+0.0218%	4h	4,339.7	−0.010%	$73.7M	$137.8M	100x	as long as short
Phemex XAUUSDT	+0.0220%	4h	4,341.4	+0.030%	$2.3M	$782K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0242%	8h	4,340.8	+0.016%	$170.8M	$360.2M	100x	as long as short
BloFin XAU-USDT	+0.0349%	4h	4,335.8	−0.100%	$16.3M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0410%	1h	4,338.8	−0.030%	$584K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,341.3	+0.028%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1122%	4h	4,346.9	+0.156%	$3.2M	$7.0M	75x	as long as short