Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h −0.048%

Price spread now: Coinbase International against Bitget−0.096%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.245% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.295%+$30 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.096%, 7d avg −0.107%

Together, before fees+0.323%+$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.107%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,365.8	0	get 0.0000% / 4h	44m 19s	$66.9M	$111.1M	100x
Short	Coinbase International GOLD-PERP-INTX	4,361.6	0.0152	get 0.0019% / 1h	44m 19s	$2.0M	$5.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.096%Rate

Funding earned: $31.92
Price spread: −0.096% → −0.107%: $1.05
Slippage, 4 orders: −$2.47
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $8.5
Costs to cover: 0.245%
Break-even: 5.1 days

Slippage from Bitget: live order book, 5 min ago; Coinbase International: 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 Bitget live order book, 5 min ago	0.01 bp	6.1 bp −$6	7.5 bp −$75	10.6 bp −$1,062	doesn't fit
Sell Coinbase International live order book, 5 min ago	0.92 bp	6.0 bp −$6	7.5 bp −$75	doesn't fit	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	−0.0305%	1h	4,359.2	−0.150%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,364.9	−0.021%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.3	+0.011%	$71.6M	$228.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.5	−0.006%	$408.4M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366.3	+0.011%	$82.6M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.2	−0.038%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.3	+0.012%	$268.1M	$407.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.7	−0.003%	$377.0M	$320.9M	1000x	as long as short
Bitget XAUUSDTlong	0.0000%	4h	4,365.8	long leg	$66.9M	$111.1M	100x
Variational Omni XAU	0.0000%	4h	4,365.9	+0.002%	$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	4,367.4	+0.037%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,362.4	−0.078%	$4.0M	$35.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,370.1	+0.098%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362.4	−0.079%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0007%	4h	4,361.8	−0.091%	$30.3M	$58.2M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0025%	1h	4,364.1	−0.039%	$235K	$735K	25x	as long as short
Bullet GOLD-USD	+0.0028%	1h	4,365.5	−0.006%	$60K	$81K	10x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,362.9	−0.066%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,365.1	−0.015%	$20.9M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.3	+0.035%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,362.4	−0.079%	$13.0M	$46.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.352%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,364.8	−0.023%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.8	+0.779%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,360.2	−0.128%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.6	−0.073%	$293.7M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,363.2	−0.060%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.3	−0.080%	$14.5M	$56.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0074%	1h	4,365.4	−0.009%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.7	−0.025%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.4	−0.124%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,363.9	−0.044%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0135%	4h	4,368.8	+0.068%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0152%	1h	4,361.6	−0.096%	$2.0M	$5.1M	25x
OKX XAU-USDT-SWAP	+0.0154%	8h	4,366.9	+0.025%	$158.0M	$271.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,362.9	−0.066%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,364.8	−0.023%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0318%	4h	4,368.9	+0.071%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,365.5	−0.006%	$252K	—	111x	as long as short