Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.009%

Price spread now: Bybit against Aevo+0.020%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$410.411% of the position

Long on Aevo Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now +0.020%, 7d avg +0.031%

Together, before fees−0.071%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XAU-PERP	4,365.9	0.0080	pay 0.0010% / 1h	41m 56s	$162K	$87	10x
Short	Bybit XAUUSDT	4,366.8	0	get 0.0000% / 4h	41m 56s	$82.6M	$141.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. 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 AevobpFee BybitbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$16.8
Price spread: +0.020% → +0.031%: −$1.11
Slippage, 4 orders: −$14.14
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$59.06
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from Aevo: live order book, 37 min ago; Bybit: live order book, 2 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 Aevo live order book, 37 min ago	5.76 bp	15.0 bp −$15	27.5 bp −$275	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.01 bp	5.7 bp −$6	7.2 bp −$72	13.1 bp −$1,315	36.9 bp −$18.5K

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
Bluefin GOLD-PERP	−0.0304%	1h	4,360.3	−0.128%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,362	−0.090%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,367	+0.024%	$71.6M	$228.0M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,366.1	+0.004%	$407.9M	$2.11B	100x	as long as short
Bybit XAUUSDTshort	0.0000%	4h	4,366.8	+0.020%	$82.6M	$141.6M	150x
RISEx XAU/USDC	0.0000%	1h	4,367.2	+0.030%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.8	+0.020%	$268.1M	$407.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,366.1	+0.004%	$377.2M	$321.4M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,365.9	0.000%	$67.0M	$111.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	−0.001%	$48.5M	$30.6M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,363.8	−0.050%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,365.1	−0.019%	$4.0M	$35.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,372.2	+0.144%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.1	−0.065%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,360.5	−0.123%	$30.3M	$58.3M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,367	+0.025%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,365.1	−0.020%	$20.8M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.3	+0.031%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,362.7	−0.074%	$13.0M	$46.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.355%	$619	$54	52x	as long as short
Bullet GOLD-USD	+0.0035%	1h	4,366.9	+0.023%	$60K	$81K	10x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.3	+0.009%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,401.7	+0.820%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0048%	1h	4,365	−0.021%	$235K	$735K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.5	−0.078%	$293.7M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,367.3	+0.032%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,364.2	−0.040%	$14.5M	$56.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,364.2	−0.039%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0075%	1h	4,367.3	+0.032%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERPlong	+0.0080%	1h	4,365.9	long leg	$162K	$87	10x
Pacifica XAU	+0.0100%	1h	4,364	−0.044%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.3	−0.105%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0138%	4h	4,371.1	+0.118%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364	−0.044%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,366.8	+0.020%	$157.9M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.6	−0.029%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.8	+0.020%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0302%	4h	4,369.2	+0.076%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,366.8	+0.020%	$252K	—	111x	as long as short