Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.005%

Price spread now: SoDEX against Bybit−0.002%56s7-day average +0.049% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.195% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.002%, 7d avg +0.049%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.052% cheaper against Bybit than usual: you would sell low and buy high (spread −0.002% now, against its 7-day average of +0.049%). If the spread goes back, that is −$5 on $10k: about 2.8 days of funding at the current rate (+$2 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUTUSDT	4,329.1	−0.0012	get 0.0006% / 4h	2h 04m	$118.4M	$29.9M	75x
Short	SoDEX XAUT-USD	4,329	0.0050	get 0.0006% / 1h	4m 25s	$10.1M	$2.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now −0.002%Rate

Funding earned: $13.1
Price spread: −0.002% → +0.049%: −$5.16
Slippage, 4 orders: −$0.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$11.53
Costs to cover: 0.195%
Break-even: 13.2 days

Slippage from Bybit: live order book, 5 min ago; SoDEX: live order book, 5 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 Bybit live order book, 5 min ago	0.12 bp	5.6 bp −$6	6.5 bp −$65	12.6 bp −$1,264	doesn't fit
Sell SoDEX live order book, 5 min ago	0.12 bp	4.1 bp −$4	5.0 bp −$50	46.0 bp −$4,601	doesn't fit

XAUT on 20 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
Aftermath Perps XAUTUSD	−0.0289%	1h	4,330.6	+0.035%	$56K	$29K	20x	as long as short
Bitget XAUTUSDT	−0.0036%	4h	4,328.7	−0.010%	$25.5M	$16.7M	75x	as long as short
Bybit XAUTUSDTlong	−0.0012%	4h	4,329.1	long leg	$118.4M	$29.9M	75x
MEXC XAUT_USDT	−0.0004%	4h	4,329.1	0.000%	$358.8M	$286.8M	1000x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,331.1	+0.046%	$130.1M	$8.6M	100x	as long as short
Variational Omni XAUT	+0.0015%	4h	4,330.9	+0.041%	$33.0M	$3.5M	—	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	+0.478%	$8K	$149K	30x	as long as short
SoDEX XAUT-USDshort	+0.0050%	1h	4,329	−0.002%	$10.1M	$2.0M	25x
Nado XAUT-PERP	+0.0100%	1h	4,328.6	−0.012%	$4.2M	$916K	10x	as long as short
Binance XAUTUSDT	+0.0100%	4h	4,329.6	+0.011%	$35.3M	$46.8M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XAUTUSDTM	+0.0100%	4h	4,331.2	+0.048%	$11.7M	$3.0M	75x	as long as short
BingX XAUT-USDT	+0.0100%	4h	4,329	−0.002%	—	$19.0M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,332.6	+0.082%	$407	$111K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,329.2	+0.002%	$266	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,330.1	+0.023%	$1.8M	$363K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,335.5	+0.148%	$2K	$3.2M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,330.5	+0.032%	$1.8M	$246K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,327.7	−0.033%	$267K	$214K	25x	as long as short
BloFin XAUT-USDT	+0.0129%	4h	4,330.7	+0.037%	$2.3M	$1.6M	75x	as long as short
Kraken Futures PF_XAUTUSD	+0.0168%	1h	4,331.7	+0.061%	$5.7M	$4.8M	50x	as long as short