Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0043%/8h= −4.8% APRpaid last 24h −0.065%

Price spread now: GMX against BloFin+0.017%111s7-day average −0.001% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.135%−$13 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now +0.017%, 7d avg −0.001%

Together, before fees−0.158%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 111 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	4,374.8	0.0240	pay 0.0120% / 4h	3h 45m	$15.0M	$4.6M	100x
Short	GMX GOLD/USD [ETH-USDC]	4,375.6	L +0.0390% / S −0.0197%	get 0.0025% / 1h	45m 15s	$252K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$9.12
Price spread: +0.017% → −0.001%: $1.81
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$31.31
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 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 BloFin live order book, 4 min ago	0.02 bp	6.0 bp −$6	6.0 bp −$60	7.0 bp −$703	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
Bluefin GOLD-PERP	−0.0105%	1h	4,368.8	−0.137%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0080%	1h	4,372	−0.064%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.1	+0.029%	$71.2M	$206.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.8	+0.022%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.5	+0.038%	$266.4M	$410.5M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.6	+0.019%	$375.7M	$321.6M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	+0.007%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,372.2	−0.060%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380	+0.119%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.4	−0.077%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	+0.0008%	4h	4,376	+0.027%	$69.7M	$113.9M	100x	as long as short
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.083%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.558%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376	+0.027%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.007%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.8	+0.800%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,376	+0.028%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.8	−0.069%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.5	−0.076%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	+0.011%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,375.7	+0.019%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.9	+0.002%	$20.8M	$43.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	+0.005%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0088%	1h	4,377.3	+0.058%	$20.3M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	−0.060%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.048%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,374	−0.018%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0113%	1h	4,375.2	+0.009%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0128%	1h	4,371.3	−0.079%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.037%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0175%	8h	4,377.5	+0.061%	$166.3M	$287.1M	100x	as long as short
Bybit XAUUSDT	+0.0182%	4h	4,376.5	+0.039%	$83.4M	$144.0M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0185%	1h	4,373.5	−0.030%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	+0.017%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.1	−0.040%	$596K	$145K	25x	as long as short
BloFin XAU-USDTlong	+0.0240%	4h	4,374.8	long leg	$15.0M	$4.6M	100x
GMX GOLD/USD [ETH-USDC]short	L +0.0390% / S −0.0197%	1h	4,375.6	+0.017%	$252K	—	111x
Phemex XAUUSDT	+0.0474%	4h	4,378.2	+0.078%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,380.4	+0.127%	$2.9M	$3.8M	75x	as long as short