Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.004%

Price spread now: Lighter RH against Bybit+0.053%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 7 days−0.104%−$10 · spread now +0.053%, 7d avg −0.035%

Together, before fees−0.154%+ Points / potential airdropLighter RH: Points live · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.088% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,307.6	0.0071	pay 0.0036% / 4h	6m 18s	$77.2M	$155.3M	150x
Short	Lighter RH XAU	4,309.9	0.0104	get 0.0013% / 1h	6m 18s	$19.9M	$40.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.053%Rate

Funding earned: $6.93
Price spread: +0.053% → −0.035%: $8.83
Slippage, 4 orders: −$2.03
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $2.73
Costs to cover: 0.130%
Break-even: 4.2 days

Slippage from Bybit: live order book, 3 min ago; Lighter RH: live order book, 3 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 Bybit live order book, 3 min ago	0.01 bp	5.5 bp −$6	6.2 bp −$62	9.7 bp −$965	32.6 bp −$16.3K
Sell Lighter RH live order book, 3 min ago	0.75 bp	0.8 bp −$1	1.8 bp −$18	5.2 bp −$516	doesn't fit

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	+0.110%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,302.8	−0.113%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.994%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,306.4	−0.028%	$5.7M	$3.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,339.2	+0.733%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303	−0.107%	$289.9M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,304.1	−0.082%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,307.9	+0.007%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,307.7	+0.001%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0070%	1h	4,302.4	−0.122%	$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 XAUUSDTlong	+0.0071%	4h	4,307.6	long leg	$77.2M	$155.3M	150x
Lighter XAU	+0.0072%	1h	4,306.9	−0.018%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,304.3	−0.077%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.146%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0099%	24h	4,309.5	+0.044%	$3.6M	$45.3M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.206%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,304.3	−0.077%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.137%	$272K	$209K	50x	as long as short
Lighter RH XAUshort	+0.0104%	1h	4,309.9	+0.053%	$19.9M	$40.2M	25x
Extended XAU-USD	+0.0104%	1h	4,303.8	−0.087%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,306.7	−0.022%	$365.9M	$341.0M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,306.8	−0.018%	$429.0M	$2.16B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.196%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,306.4	−0.029%	$159K	$87	10x	as long as short
Gate XAU_USDT	+0.0118%	4h	4,308.6	+0.024%	$284.7M	$430.5M	100x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,304.5	−0.072%	$32K	—	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.129%	$30.0M	$59.8M	50x	as long as short
StandX XAU-USD	+0.0130%	1h	4,310.3	+0.062%	$3.8M	$4.5M	40x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,306.7	−0.020%	$70.4M	$121.4M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,306.8	−0.019%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,307	−0.014%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0229%	1h	4,305	−0.060%	$573K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,307	−0.014%	$175.2M	$305.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0308%	1h	4,305.5	−0.049%	$136K	$865K	25x	as long as short
BloFin XAU-USDT	+0.0371%	4h	4,308.4	+0.019%	$16.5M	$5.0M	100x	as long as short
Phemex XAUUSDT	+0.0455%	4h	4,312.2	+0.106%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,307.9	+0.006%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0540%	4h	4,314.3	+0.155%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	−0.006%	$4.5M	$13.1M	25x	as long as short