Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.019%

Price spread now: Hotstuff against Bybit−0.117%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Hotstuff

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 airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.117% cheaper against Bybit than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 28 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,351.7	0.0066	pay 0.0033% / 4h	2h 48m	$80.2M	$151.7M	150x
Short	Hotstuff GOLD-PERP	4,346.6	0.0080	get 0.0010% / 1h	48m 14s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now −0.117%Rate

Funding earned: $2.94
Price spread: −0.117% → 0.000%: −$11.72
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$24.78
Costs to cover: 0.160%
Break-even: 65.9 days

Slippage unknown: Bybit: live order book, 1 min ago; Hotstuff: 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 Bybit live order book, 1 min ago	0.01 bp	5.5 bp −$6	6.2 bp −$62	10.9 bp −$1,093	32.0 bp −$16.0K
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	−0.0060%	1h	4,344.8	−0.159%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.6	+0.066%	$93K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,347.4	−0.100%	$272K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,347.1	−0.106%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.029%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.3	−0.009%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,347.5	−0.097%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.4	+0.728%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.4	−0.099%	$293.7M	$49.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,347	−0.108%	$15.1M	$56.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx XAU/USDC	+0.0054%	1h	4,350.9	−0.018%	$3.7M	$12.6M	25x	as long as short
Kalshi KXGOLDPERP	+0.0054%	24h	4,348.5	−0.074%	$4.2M	$39.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,350.1	−0.038%	$20.7M	$30.3M	25x	as long as short
Bybit XAUUSDTlong	+0.0066%	4h	4,351.7	long leg	$80.2M	$151.7M	150x
Paradex XAU-USD-PERP	+0.0070%	8h	4,349.8	−0.044%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,346.9	−0.110%	$2.1M	$4.7M	25x	as long as short
Hotstuff GOLD-PERPshort	+0.0080%	1h	4,346.6	−0.117%	$33K	—	25x
Gate XAU_USDT	+0.0080%	4h	4,352.3	+0.014%	$272.0M	$397.1M	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.1	−0.130%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.9	−0.110%	$277K	$204K	50x	as long as short
Aster XAUUSD1	+0.0107%	4h	4,352.1	+0.010%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0108%	4h	4,349.5	−0.051%	$48.5M	$27.6M	—	as long as short
Lighter RH XAU	+0.0112%	1h	4,352.5	+0.019%	$20.1M	$38.1M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,349.9	−0.041%	$161K	$87	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,349.6	−0.048%	$203K	$822K	25x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,350.6	−0.025%	$370.1M	$317.6M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,350.8	−0.020%	$419.5M	$2.09B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0124%	4h	4,350	−0.038%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.7	−0.092%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,342.6	−0.210%	$30.2M	$58.0M	50x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,350.6	−0.024%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0170%	1h	4,350.6	−0.025%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0204%	4h	4,352.9	+0.028%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0246%	1h	4,347.5	−0.096%	$591K	$128K	25x	as long as short
Bitget XAUUSDT	+0.0278%	4h	4,351.2	−0.011%	$71.5M	$108.0M	100x	as long as short
HTX XAU-USDT	+0.0283%	4h	4,351.8	+0.002%	$2.8M	$4.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0335%	8h	4,351.4	−0.007%	$168.1M	$282.3M	100x	as long as short
BloFin XAU-USDT	+0.0372%	4h	4,349.2	−0.057%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,351	−0.017%	$251K	—	111x	as long as short