Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.035%

Price spread now: gTrade (Gains Network) against Binance−0.095%7-day average −0.097% · 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−$277as in the Price arb table

costs, in and out, $10k−$2772.771% of the position

Long on Binance Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.095%, 7d avg −0.097%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.097%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,341	0.0103	pay 0.0051% / 4h	3h 41m	$416.9M	$2.09B	100x
Short	gTrade (Gains Network) XAU/USD	4,336.9	L +0.0002% / S −0.0003%	get 0.0000% / 1h	41m 02s	$271K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Binance. 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 BinancebpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.095%Rate

Funding earned: −$20.97
Price spread: −0.095% → −0.097%: $0.17
Slippage, 4 orders: −$260.05
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$297.85
Costs to cover: 2.771%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 43 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 Binance live order book, 3 min ago	0.01 bp	5.0 bp −$5	5.6 bp −$56	7.7 bp −$767	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 43 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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
Hotstuff GOLD-PERP	−0.0120%	1h	4,338.9	−0.049%	$33K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0012%	1h	4,335.4	−0.130%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,342.4	+0.033%	$267.7M	$413.8M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,345.3	+0.098%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,336.9	−0.095%	$271K	—	250x
RISEx XAU/USDC	+0.0005%	1h	4,339.9	−0.026%	$3.5M	$12.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.8	−0.097%	$13.3M	$37.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.217%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,339.7	−0.030%	$20.8M	$34.5M	25x	as long as short
Lighter RH XAU	+0.0040%	1h	4,341.8	+0.018%	$20.0M	$39.3M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,343.7	+0.062%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,338.9	−0.049%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.4	+0.746%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.3	−0.062%	$293.5M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.2	−0.087%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.4	−0.060%	$4.3M	$37.5M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.7	−0.030%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0059%	4h	4,341.6	+0.014%	$80.4M	$151.4M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,341.9	+0.020%	$71.4M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,340.4	−0.015%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,340.5	−0.013%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,337	−0.092%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.3	−0.040%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0102%	4h	4,341	+0.001%	$369.5M	$319.1M	1000x	as long as short
Binance XAUUSDTlong	+0.0103%	4h	4,341	long leg	$416.9M	$2.09B	100x
Aevo XAU-PERP	+0.0104%	1h	4,340.5	−0.011%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,337.2	−0.089%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.8	−0.028%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,343.4	+0.055%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,339.3	−0.039%	$205K	$827K	25x	as long as short
Bullet GOLD-USD	+0.0215%	1h	4,341.2	+0.005%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,340.8	−0.005%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0246%	4h	4,341.4	+0.009%	$71.0M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.2	−0.066%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,341.7	+0.016%	$166.4M	$281.6M	100x	as long as short
Phemex XAUUSDT	+0.0365%	4h	4,344.1	+0.071%	$2.2M	$967K	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,341.7	+0.017%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.2	+0.005%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0581%	4h	4,345.7	+0.108%	$2.8M	$4.6M	75x	as long as short