Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h +0.227%

Price spread now: Bluefin against Variational Omni−0.119%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bluefin is 0.119% cheaper against Variational Omni than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,340.5	0.0087	pay 0.0043% / 4h	3h 40m	$48.3M	$27.7M	—
Short	Bluefin GOLD-PERP	4,335.3	−0.0004	pay 0.0001% / 1h	40m 01s	$25K	$14K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Variational Omni. 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 Variational OmnibpFee BluefinbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$19.15
Price spread: −0.119% → 0.000%: −$11.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$38.07
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bluefin: no order-book sample. 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 Variational Omni RFQ quote, 4 min ago	1.54 bp	doesn't fit	1.5 bp −$15	4.7 bp −$474	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
Hotstuff GOLD-PERP	−0.0024%	1h	4,337.9	−0.059%	$33K	—	25x	as long as short
Bluefin GOLD-PERPshort	−0.0004%	1h	4,335.3	−0.119%	$25K	$14K	20x
SunX XAU-USDT	0.0000%	4h	4,345.3	+0.111%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,336.9	−0.082%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,340.1	−0.008%	$3.5M	$12.0M	25x	as long as short
Gate XAU_USDT	+0.0010%	4h	4,342.4	+0.045%	$267.7M	$414.2M	100x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.6	−0.090%	$13.2M	$37.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.230%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,341.8	+0.030%	$20.0M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,342	+0.036%	$3.8M	$4.5M	40x	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	+0.0042%	1h	4,338.9	−0.036%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.6	+0.764%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,339.6	−0.019%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.1	−0.054%	$293.5M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.5	−0.069%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,337.9	−0.059%	$4.3M	$37.5M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,337.3	−0.073%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0059%	4h	4,341.5	+0.024%	$80.4M	$151.4M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,341.9	+0.032%	$71.4M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,340.8	+0.009%	$19K	$5K	5x	as long as short
Variational Omni XAUlong	+0.0087%	4h	4,340.5	long leg	$48.3M	$27.7M	—
Pacifica XAU	+0.0100%	1h	4,337.3	−0.073%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.3	−0.027%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0102%	4h	4,341	+0.012%	$369.5M	$319.1M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,340.3	−0.002%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0104%	4h	4,340.9	+0.010%	$416.9M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,337.2	−0.076%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.8	−0.015%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,343.4	+0.068%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0188%	1h	4,339.2	−0.029%	$205K	$827K	25x	as long as short
Bullet GOLD-USD	+0.0216%	1h	4,341.3	+0.020%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0217%	1h	4,340.8	+0.008%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0248%	4h	4,341.4	+0.023%	$71.0M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.2	−0.053%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,341.6	+0.026%	$166.4M	$281.6M	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,341.7	+0.030%	$15.6M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0372%	4h	4,344	+0.082%	$2.2M	$967K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.4	+0.021%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0597%	4h	4,345.7	+0.121%	$2.8M	$4.6M	75x	as long as short