Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0354%/8h= −38.8% APRpaid last 24h −0.107%

Price spread now: gTrade (Gains Network) against BloFin−0.064%50s7-day average −0.101% · 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—prices read too far apart to compare

costs, in and out, $10k−$2792.791% of the position

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.293%−$29 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now −0.064%, 7d avg −0.101%

Together, before fees−0.403%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.038% dearer against BloFin than usual: you sell high and buy low (spread −0.064% now, against its 7-day average of −0.101%): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 8 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAU-USDT	4,333.3	0.0357	pay 0.0179% / 4h	2h 07m	$16.0M	$4.5M	100x
Short	gTrade (Gains Network) XAU/USD	4,330.6	L +0.0002% / S −0.0003%	get 0.0000% / 1h	7m 53s	$271K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.064%Rate

Funding earned: −$74.33
Price spread: −0.064% → −0.101%: $3.75
Slippage, 4 orders: −$260.06
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$349.64
Costs to cover: 2.791%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 6 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 BloFin live order book, 6 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.7 bp −$766	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 6 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
Bluefin GOLD-PERP	−0.0054%	1h	4,327.4	−0.137%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,338.2	+0.111%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,330.6	−0.064%	$271K	—	250x
Bybit XAUUSDT	+0.0006%	4h	4,335.6	+0.052%	$78.5M	$156.4M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,330.9	−0.057%	$13.1M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.394%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333.7	+0.008%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,332.7	−0.015%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,366.9	+0.774%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,333	−0.008%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,330.6	−0.063%	$292.0M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.3	−0.070%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,335.4	+0.048%	$3.8M	$12.5M	25x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,335.5	+0.049%	$273.0M	$417.6M	100x	as long as short
Kalshi KXGOLDPERP	+0.0064%	24h	4,334.6	+0.029%	$4.0M	$42.2M	15x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,334.2	+0.021%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,335.4	+0.047%	$19.9M	$39.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330	−0.077%	$2.0M	$4.8M	25x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,330.3	−0.070%	$32K	—	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0096%	1h	4,332.1	−0.029%	$195K	$826K	25x	as long as short
Aster XAUUSD1	+0.0097%	4h	4,336.1	+0.063%	$72.3M	$330.1M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,330.6	−0.064%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330	−0.077%	$273K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	−0.043%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0104%	4h	4,333.5	+0.003%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,335	+0.037%	$364.1M	$331.0M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,335.2	+0.043%	$414.9M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,333.1	−0.005%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,327.8	−0.128%	$30.1M	$60.3M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.156%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,334.3	+0.022%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0176%	1h	4,334.4	+0.024%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0230%	4h	4,336.6	+0.075%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,330.8	−0.059%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0252%	4h	4,334.5	+0.028%	$68.1M	$118.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0330%	8h	4,334.7	+0.031%	$170.6M	$297.0M	100x	as long as short
BloFin XAU-USDTlong	+0.0357%	4h	4,333.3	long leg	$16.0M	$4.5M	100x
Phemex XAUUSDT	+0.0376%	4h	4,335.2	+0.042%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0303%	1h	4,334.2	+0.019%	$253K	—	111x	as long as short