Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0299%/8h= −32.8% APRpaid last 24h −0.086%

Price spread now: Lighter against BloFin−0.036%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.353%−$35 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.036%, 7d avg −0.049%

Together, before fees−0.363%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAU-USDT	4,308.4	0.0371	pay 0.0186% / 4h	6m 17s	$16.5M	$5.0M	100x
Short	Lighter XAU	4,306.9	0.0072	get 0.0009% / 1h	6m 17s	$20.2M	$30.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$62.88
Price spread: −0.036% → −0.049%: $1.25
Slippage, 4 orders: −$1.63
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$75.25
Costs to cover: 0.136%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Lighter: live order book, 8 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, 3 min ago	0.01 bp	6.0 bp −$6	6.4 bp −$64	7.5 bp −$749	doesn't fit
Sell Lighter live order book, 8 min ago	0.50 bp	0.6 bp −$1	1.6 bp −$16	8.8 bp −$882	19.7 bp −$9,843

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	4,312.3	+0.091%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,302.8	−0.131%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.975%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,306.4	−0.047%	$5.7M	$3.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,339.2	+0.715%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303	−0.126%	$289.9M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,304.1	−0.100%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,307.9	−0.011%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,307.7	−0.017%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0070%	1h	4,302.4	−0.140%	$25K	$1K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0071%	4h	4,307.6	−0.019%	$77.2M	$155.3M	150x	as long as short
Lighter XAUshort	+0.0072%	1h	4,306.9	−0.036%	$20.2M	$30.2M	25x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,304.3	−0.095%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.127%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0099%	24h	4,309.5	+0.025%	$3.6M	$45.3M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.187%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,304.3	−0.095%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.118%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,309.9	+0.034%	$19.9M	$40.2M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,303.8	−0.106%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,306.7	−0.040%	$365.9M	$341.0M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,306.8	−0.037%	$429.0M	$2.16B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.178%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,306.4	−0.047%	$159K	$87	10x	as long as short
Gate XAU_USDT	+0.0118%	4h	4,308.6	+0.005%	$284.7M	$430.5M	100x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,304.5	−0.091%	$32K	—	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.110%	$30.0M	$59.8M	50x	as long as short
StandX XAU-USD	+0.0130%	1h	4,310.3	+0.044%	$3.8M	$4.5M	40x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,306.7	−0.039%	$70.4M	$121.4M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,306.8	−0.037%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,307	−0.033%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0229%	1h	4,305	−0.079%	$573K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,307	−0.033%	$175.2M	$305.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0308%	1h	4,305.5	−0.068%	$136K	$865K	25x	as long as short
BloFin XAU-USDTlong	+0.0371%	4h	4,308.4	long leg	$16.5M	$5.0M	100x
Phemex XAUUSDT	+0.0455%	4h	4,312.2	+0.087%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,307.9	−0.013%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0540%	4h	4,314.3	+0.136%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	−0.025%	$4.5M	$13.1M	25x	as long as short