Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0118%/8h= −12.9% APRpaid last 24h −0.036%

Price spread now: ApeX Omni against Bitget−0.107%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.107%, 7d avg −0.048%

Together, before fees−0.011%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and ApeX Omni is 0.059% cheaper against Bitget than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,348.8	0.0218	pay 0.0109% / 4h	1h 03m	$70.2M	$109.4M	100x
Short	ApeX Omni XAUUSDT	4,344.1	0.0100	get 0.0013% / 1h	3m 20s	$274K	$203K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.107%Rate

Funding earned: −$24.78
Price spread: −0.107% → −0.048%: −$5.87
Slippage, 4 orders: −$27.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$79.67
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Bitget: live order book, 6 min ago; ApeX Omni: live order book, 59 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 Bitget live order book, 6 min ago	0.01 bp	6.3 bp −$6	7.7 bp −$77	11.5 bp −$1,147	doesn't fit
Sell ApeX Omni live order book, 59 min ago	4.79 bp	19.9 bp −$20	34.7 bp −$347	44.0 bp −$4,399	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	4,352.3	+0.081%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,344.4	−0.101%	$266K	—	250x	as long as short
Gate XAU_USDT	+0.0004%	4h	4,349.9	+0.027%	$264.4M	$418.1M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.1	−0.037%	$3.4M	$12.3M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344.2	−0.104%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.038%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.7	−0.070%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0041%	4h	4,348.7	−0.002%	$70.9M	$334.1M	20x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,344.6	−0.095%	$4.1M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.5	+0.730%	—	$1.0M	25x	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	+0.0046%	1h	4,346.8	−0.045%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,347.2	−0.036%	$20.6M	$42.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,342.1	−0.153%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.1	−0.084%	$293.9M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344	−0.109%	$15.1M	$56.8M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,349.3	+0.012%	$20.1M	$39.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,344.2	−0.105%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	−0.062%	$48.5M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0058%	4h	4,346.5	−0.051%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,348.1	−0.014%	$370.9M	$320.7M	1000x	as long as short
edgeX XAUUSDC	+0.0075%	4h	4,342.6	−0.142%	$30.2M	$58.6M	50x	as long as short
Binance XAUUSDT	+0.0076%	4h	4,348.4	−0.008%	$410.6M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,346.8	−0.045%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,346.5	−0.051%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.2	−0.127%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,344.1	−0.107%	$274K	$203K	50x
Polymarket Perps GOLD-USD	+0.0118%	1h	4,347.5	−0.029%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	−0.063%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0193%	1h	4,348.3	−0.011%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0202%	4h	4,349.6	+0.020%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0212%	4h	4,349.8	+0.024%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDTlong	+0.0218%	4h	4,348.8	long leg	$70.2M	$109.4M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,347	−0.040%	$268K	$767K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0262%	8h	4,349.4	+0.015%	$165.4M	$283.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,345.2	−0.081%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0302%	4h	4,347.9	−0.020%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0365%	1h	4,342	−0.156%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0406% / S −0.0221%	1h	4,348.3	−0.011%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0594%	4h	4,352.4	+0.085%	$2.9M	$4.2M	75x	as long as short