Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0238%/8h= +26.0% APRpaid last 24h −0.215%

Price spread now: Bybit against Bluefin+0.198%7-day average — · you sell dearer than you buy

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

Long on Bluefin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Bybit is 0.198% dearer against Bluefin than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin GOLD-PERP	4,363.2	−0.0238	get 0.0030% / 1h	14m 19s	$26K	$22K	20x
Short	Bybit XAUUSDT	4,371.8	0	get 0.0000% / 4h	14m 19s	$82.8M	$142.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bluefin. 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 BluefinbpFee BybitbpOrdersPrice spread, now +0.198%Rate

Funding earned: $49.93
Price spread: +0.198% → 0.000%: $19.85
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $51.78
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bluefin: no order-book sample; Bybit: live order book, 5 min ago. 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 Bluefin no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.01 bp	5.6 bp −$6	6.6 bp −$66	10.0 bp −$1,002	34.6 bp −$17.3K

Bluefin: 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-PERPlong	−0.0238%	1h	4,363.2	long leg	$26K	$22K	20x
Phoenix GOLD	−0.0004%	1h	4,370.3	+0.163%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.7	+0.195%	$71.9M	$224.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,371.1	+0.182%	$410.8M	$2.14B	100x	as long as short
Bybit XAUUSDTshort	0.0000%	4h	4,371.8	+0.198%	$82.8M	$142.6M	150x
RISEx XAU/USDC	0.0000%	1h	4,372.3	+0.209%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.8	+0.198%	$267.5M	$417.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,371.1	+0.183%	$376.3M	$324.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,371.3	+0.186%	$69.6M	$113.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,370.5	+0.168%	$48.5M	$29.3M	—	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	4,371	+0.180%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,368.2	+0.115%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.5	+0.282%	$93K	$10.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,367.2	+0.092%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,365.9	+0.062%	$30.4M	$59.4M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,371.1	+0.182%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.292%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,371.2	+0.184%	$20.8M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,371.4	+0.189%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.7	+0.975%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.3	+0.095%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,368.6	+0.124%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,372.4	+0.213%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0056%	1h	4,373.8	+0.243%	$20.2M	$42.3M	25x	as long as short
Extended XAU-USD	+0.0064%	1h	4,367.3	+0.095%	$13.1M	$45.5M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,368.4	+0.120%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.7	+0.172%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,368.5	+0.123%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.6	+0.123%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0105%	1h	4,370.8	+0.175%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0112%	1h	4,371.2	+0.185%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,367.2	+0.092%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,372.1	+0.205%	$158.6M	$274.5M	100x	as long as short
HTX XAU-USDT	+0.0186%	4h	4,377	+0.317%	$2.8M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.6	+0.125%	$603K	$137K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,370.9	+0.177%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0254%	1h	4,370	+0.157%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0320%	4h	4,370.9	+0.177%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,371.2	+0.183%	$252K	—	111x	as long as short