Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h +0.025%

Price spread now: Variational Omni against tradeXYZ+0.019%7-day average +0.084% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 7 days+0.011%+$1 · spread now +0.019%, 7d avg +0.084%

Together, before fees+0.023%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$2 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 0.065% cheaper against tradeXYZ than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:GOLD	4,354.8	0.0050	pay 0.0006% / 1h	21m 38s	$294.2M	$48.7M	25x
Short	Variational Omni XAU	4,355.6	0.0057	get 0.0028% / 4h	1h 21m	$48.3M	$27.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.019%Rate

Funding earned: $1.37
Price spread: +0.019% → +0.084%: −$6.51
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$23.14
Costs to cover: 0.180%
Break-even: 125.4 days

Slippage unknown: tradeXYZ: live order book, 7 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 tradeXYZ live order book, 7 min ago	0.12 bp	9.1 bp −$9	9.7 bp −$97	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.55 bp	doesn't fit	2.1 bp −$21	5.0 bp −$499	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	4,362.5	+0.176%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.1	−0.015%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,359.8	+0.114%	$264.7M	$413.6M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,357.7	+0.066%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354.7	−0.003%	$13.6M	$38.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.101%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,356.8	+0.046%	$4.1M	$37.1M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358	+0.073%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0044%	4h	4,358.9	+0.093%	$70.6M	$333.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.7	+0.847%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,357.2	+0.055%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,355.7	+0.021%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLDlong	+0.0050%	1h	4,354.8	long leg	$294.2M	$48.7M	25x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.4	−0.009%	$15.1M	$57.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	+0.053%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,357.3	+0.058%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAUshort	+0.0057%	4h	4,355.6	+0.019%	$48.3M	$27.9M	—
Lighter RH XAU	+0.0064%	1h	4,359.5	+0.108%	$20.2M	$39.7M	25x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,358.3	+0.080%	$373.3M	$319.2M	1000x	as long as short
Binance XAUUSDT	+0.0073%	4h	4,358.3	+0.080%	$412.1M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,358.3	+0.080%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0090%	4h	4,351.8	−0.070%	$30.3M	$58.4M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,357.2	+0.056%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.6	−0.004%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,354.7	−0.002%	$275K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,355.2	+0.009%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0121%	4h	4,358.5	+0.085%	$2.2M	$1.1M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0123%	1h	4,357.6	+0.064%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,356.1	+0.030%	$48K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,356.3	+0.034%	$254K	$751K	25x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,358.1	+0.075%	$60K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0201%	4h	4,359.7	+0.112%	$84.5M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,358.9	+0.095%	$70.4M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,359.1	+0.099%	$165.2M	$282.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355.3	+0.012%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0292%	4h	4,358.7	+0.088%	$15.6M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0372%	1h	4,351.3	−0.082%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0214%	1h	4,358	+0.074%	$249K	—	111x	as long as short
HTX XAU-USDT	+0.0567%	4h	4,363.4	+0.197%	$2.9M	$4.2M	75x	as long as short