Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.030%

Price spread now: Deribit against Variational Omni+0.001%7-day average −0.103% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.712%+$71 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.001%, 7d avg −0.103%

Together, before fees+0.740%+ Points / potential airdropVariational Omni: Active · farm board+$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Deribit is 0.104% dearer against Variational Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,347.3	0.0061	pay 0.0031% / 4h	1h 00m	$48.4M	$27.7M	—
Short	Deribit GOLD_USDC-PERPETUAL	4,347.3	0.0394	get 0.0049% / 1h	0m 33s	$268K	$767K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpOrdersPrice spread, now +0.001%Rate

Funding earned: $70.02
Price spread: +0.001% → −0.103%: $10.4
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $73.42
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Deribit: live order book, 63 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 Variational Omni RFQ quote, 4 min ago	1.55 bp	doesn't fit	1.8 bp −$18	4.9 bp −$487	doesn't fit
Sell Deribit live order book, 63 min ago	0.12 bp	3.6 bp −$4	4.2 bp −$42	doesn't fit	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	4,351.5	+0.098%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,344.2	−0.070%	$266K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,349.8	+0.058%	$264.8M	$418.8M	100x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,344.8	−0.057%	$33K	—	25x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.4	+0.004%	$3.4M	$12.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.4	−0.089%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.073%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.024%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,345.8	−0.034%	$4.1M	$37.1M	15x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,347.9	+0.015%	$70.9M	$334.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380.5	+0.765%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,346.9	−0.008%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,346.1	−0.027%	$20.6M	$42.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.2	−0.070%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.7	−0.059%	$293.8M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.3	−0.068%	$15.1M	$56.7M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,348.4	+0.025%	$20.1M	$40.0M	25x	as long as short
Variational Omni XAUlong	+0.0061%	4h	4,347.3	long leg	$48.4M	$27.7M	—
GRVT XAU_USDT_Perp	+0.0062%	4h	4,348.6	+0.031%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0075%	4h	4,342.6	−0.108%	$30.2M	$58.6M	50x	as long as short
MEXC XAU_USDT	+0.0076%	4h	4,347.6	+0.007%	$371.0M	$320.9M	1000x	as long as short
Binance XAUUSDT	+0.0078%	4h	4,347.7	+0.011%	$411.1M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,347.4	+0.003%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,347.2	−0.001%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.2	−0.070%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344.7	−0.059%	$274K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,347.2	−0.001%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,345.3	−0.045%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0194%	4h	4,349.6	+0.055%	$2.2M	$972K	100x	as long as short
Bullet GOLD-USD	+0.0194%	1h	4,348.2	+0.021%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0214%	4h	4,349.2	+0.045%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0220%	4h	4,348.1	+0.019%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0265%	8h	4,349.4	+0.049%	$165.4M	$283.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,345.2	−0.047%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0308%	4h	4,347.6	+0.008%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0320%	1h	4,342.5	−0.110%	$25K	$14K	20x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0394%	1h	4,347.3	+0.001%	$268K	$767K	25x
GMX GOLD/USD [ETH-USDC]	L +0.0406% / S −0.0221%	1h	4,348.2	+0.021%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0596%	4h	4,353.5	+0.144%	$2.9M	$4.3M	75x	as long as short