Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0111%/8h= +12.1% APRpaid last 24h −0.227%

Price spread now: Variational Omni against Bluefin+0.160%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.160% dearer against Bluefin than usual: you sell high and buy low: +$16 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	4,335.8	−0.0024	get 0.0003% / 1h	41m 50s	$25K	$14K	20x
Short	Variational Omni XAU	4,342.7	0.0087	get 0.0043% / 4h	3h 41m	$48.3M	$27.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.160%Rate

Funding earned: $23.25
Price spread: +0.160% → 0.000%: $16.02
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $32.27
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bluefin: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	1.54 bp	doesn't fit	1.5 bp −$15	4.0 bp −$398	doesn't fit

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	−0.0024%	1h	4,335.8	long leg	$25K	$14K	20x
Gate XAU_USDT	0.0000%	4h	4,342.9	+0.163%	$267.7M	$413.5M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,345.8	+0.230%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,337.1	+0.031%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,340.4	+0.107%	$3.5M	$12.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.9	+0.025%	$13.3M	$37.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.337%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,339.9	+0.094%	$20.8M	$34.5M	25x	as long as short
Lighter RH XAU	+0.0040%	1h	4,341.2	+0.125%	$20.0M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.7	+0.182%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0042%	1h	4,340.5	+0.109%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,374.1	+0.884%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.6	+0.065%	$293.5M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.7	+0.043%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339.3	+0.081%	$4.3M	$37.5M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.7	+0.090%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0056%	4h	4,342	+0.142%	$80.5M	$151.4M	150x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,339.7	+0.090%	$33K	—	25x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,342.4	+0.153%	$71.4M	$332.4M	20x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,341.1	+0.123%	$19K	$5K	5x	as long as short
Variational Omni XAUshort	+0.0087%	4h	4,342.7	+0.160%	$48.3M	$27.7M	—
Pacifica XAU	+0.0100%	1h	4,338.2	+0.056%	$1.4M	$1.1M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,341.4	+0.129%	$369.5M	$318.9M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.5	+0.086%	$274K	$203K	50x	as long as short
Binance XAUUSDT	+0.0103%	4h	4,340.6	+0.111%	$416.9M	$2.09B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,340.7	+0.113%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0113%	4h	4,338.3	+0.059%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.8	+0.069%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,343.4	+0.176%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,341.6	+0.135%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0217%	1h	4,341.5	+0.132%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0246%	4h	4,341.8	+0.137%	$71.1M	$109.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,339.7	+0.090%	$205K	$827K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.3	+0.059%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0318%	8h	4,342.3	+0.150%	$166.4M	$281.7M	100x	as long as short
Phemex XAUUSDT	+0.0347%	4h	4,344.6	+0.204%	$2.2M	$967K	100x	as long as short
BloFin XAU-USDT	+0.0361%	4h	4,343.1	+0.170%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.6	+0.135%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0555%	4h	4,347	+0.258%	$2.8M	$4.6M	75x	as long as short