Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0013%/8h= −1.5% APRpaid last 24h +0.003%

Price spread now: Variational Omni against ApeX Omni+0.074%7-day average +0.033% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.074%, 7d avg +0.033%

Together, before fees−0.040%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.041% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of +0.033%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 4 days (−0.042% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,339.5	0.0100	pay 0.0013% / 1h	43m 07s	$274K	$203K	50x
Short	Variational Omni XAU	4,342.7	0.0087	get 0.0043% / 4h	3h 43m	$48.3M	$27.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now +0.074%Rate

Funding earned: −$2.79
Price spread: +0.074% → +0.033%: $4.11
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.69
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 9 min ago; Variational Omni: RFQ quote, 1 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 ApeX Omni live order book, 9 min ago	3.33 bp	17.4 bp −$17	27.5 bp −$275	37.7 bp −$3,774	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	1.54 bp	doesn't fit	1.5 bp −$15	4.0 bp −$398	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
Bluefin GOLD-PERP	−0.0034%	1h	4,336.2	−0.076%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,346.5	+0.162%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,338.7	−0.020%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,341.4	+0.044%	$3.5M	$12.1M	25x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,344.5	+0.114%	$267.7M	$413.0M	100x	as long as short
Lighter RH XAU	+0.0032%	1h	4,343.6	+0.094%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,338.8	−0.017%	$13.3M	$37.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,340.3	+0.018%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.251%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.7	+0.096%	$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	4,340.5	+0.023%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.2	+0.822%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,341.6	+0.047%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.9	+0.009%	$293.6M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.7	−0.020%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339.6	+0.002%	$4.3M	$37.5M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.7	+0.004%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0064%	4h	4,343.8	+0.097%	$80.2M	$150.9M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,343.3	+0.087%	$71.4M	$332.4M	20x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,342.1	+0.060%	$19K	$5K	5x	as long as short
Variational Omni XAUshort	+0.0087%	4h	4,342.7	+0.074%	$48.3M	$27.7M	—
Pacifica XAU	+0.0100%	1h	4,338.5	−0.024%	$1.4M	$1.1M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,343	+0.081%	$369.6M	$318.8M	1000x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,339.5	long leg	$274K	$203K	50x
Binance XAUUSDT	+0.0102%	4h	4,343	+0.081%	$417.1M	$2.09B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,341.9	+0.055%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0113%	4h	4,338.3	−0.027%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.8	−0.017%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,343.4	+0.090%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,341.1	+0.036%	$205K	$827K	25x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,343.2	+0.084%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0217%	1h	4,342.6	+0.071%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0244%	4h	4,342.8	+0.076%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,339.7	+0.005%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0296%	4h	4,343.9	+0.102%	$2.2M	$967K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0318%	8h	4,344.1	+0.106%	$166.3M	$281.6M	100x	as long as short
BloFin XAU-USDT	+0.0361%	4h	4,343.1	+0.083%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,343.2	+0.085%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0542%	4h	4,346.8	+0.168%	$2.8M	$4.6M	75x	as long as short