Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h −0.002%

Price spread now: GMX against Bitget+0.023%7-day average +0.001% · you sell dearer than you buy

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.023%, 7d avg +0.001%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.022% dearer against Bitget than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,315.9	0.0192	pay 0.0096% / 4h	10m 50s	$70.5M	$120.1M	100x
Short	GMX GOLD/USD [ETH-USDC]	4,316.9	L +0.0466% / S −0.0312%	get 0.0039% / 1h	10m 50s	$254K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.023%Rate

Funding earned: $25.1
Price spread: +0.023% → +0.001%: $2.19
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $3.29
Costs to cover: 0.240%
Break-even: 6.1 days

Slippage unknown: Bitget: live order book, 3 min ago; GMX: no order-book sample. 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 Bitget live order book, 3 min ago	0.01 bp	6.0 bp −$6	6.6 bp −$66	10.7 bp −$1,073	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4,321.1	+0.119%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,313.2	−0.063%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.800%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,316.8	+0.021%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,349.7	+0.783%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,313.8	−0.049%	$290.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,313.1	−0.066%	$15.0M	$55.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0054%	1h	4,311.4	−0.104%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,314.5	−0.033%	$32K	—	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,317.3	+0.033%	$73.0M	$271.8M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0063%	8h	4,317.4	+0.034%	$2K	$14K	5x	as long as short
Bybit XAUUSDT	+0.0067%	4h	4,316.6	+0.017%	$77.9M	$153.6M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,316.1	+0.004%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,315.3	−0.014%	$2.0M	$5.1M	25x	as long as short
StandX XAU-USD	+0.0092%	1h	4,320	+0.095%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0096%	1h	4,315.7	−0.005%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0098%	24h	4,319.1	+0.074%	$3.7M	$44.9M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.013%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,314.5	−0.033%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.6	−0.008%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,318.6	+0.062%	$19.9M	$40.1M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,315.7	−0.005%	$363.3M	$336.0M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,315.8	−0.002%	$429.4M	$2.14B	100x	as long as short
Extended XAU-USD	+0.0112%	1h	4,312.5	−0.078%	$13.2M	$36.7M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,316.7	+0.018%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,309.9	−0.139%	$30.0M	$60.5M	50x	as long as short
Gate XAU_USDT	+0.0114%	4h	4,317.7	+0.042%	$286.9M	$427.5M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,319.3	+0.079%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDTlong	+0.0192%	4h	4,315.9	long leg	$70.5M	$120.1M	100x
Bullet GOLD-USD	+0.0202%	1h	4,317.2	+0.030%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0223%	1h	4,317.4	+0.035%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,314.8	−0.027%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0267%	8h	4,316.1	+0.004%	$175.2M	$302.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0330%	1h	4,316	+0.002%	$161K	$876K	25x	as long as short
BloFin XAU-USDT	+0.0351%	4h	4,317.1	+0.028%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0408%	4h	4,319.5	+0.082%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]short	L +0.0466% / S −0.0312%	1h	4,316.9	+0.023%	$254K	—	111x
HTX XAU-USDT	+0.0525%	4h	4,324.6	+0.201%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,317.4	+0.033%	$4.5M	$13.3M	25x	as long as short