Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0063%/8h= +7.0% APRpaid last 24h +0.009%

Price spread now: Binance against Coinbase International+0.109%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.109%, 7d avg +0.099%

Together, before fees−0.376%−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.099%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.372%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,339.3	0.0056	pay 0.0007% / 1h	15m 13s	$2.1M	$4.7M	25x
Short	Binance XAUUSDT	4,344	0.0119	get 0.0060% / 4h	3h 15m	$418.4M	$2.09B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.109%Rate

Funding earned: $13.33
Price spread: +0.109% → +0.099%: $0.92
Slippage, 4 orders: −$3.08
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$8.83
Costs to cover: 0.231%
Break-even: 11.6 days

Slippage from Coinbase International: live order book, 4 min ago; Binance: live order book, 14 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 Coinbase International live order book, 4 min ago	0.12 bp	7.7 bp −$8	8.7 bp −$87	45.3 bp −$4,527	doesn't fit
Sell Binance live order book, 14 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	7.2 bp −$717	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	4,348.3	+0.208%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.1	+0.019%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,344.6	+0.122%	$3.8M	$12.5M	25x	as long as short
Bluefin GOLD-PERP	+0.0011%	1h	4,337.5	−0.043%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.1	+0.019%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.256%	$619	$54	52x	as long as short
Bybit XAUUSDT	+0.0039%	4h	4,344.8	+0.126%	$79.9M	$152.1M	150x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,340.6	+0.030%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.1	+0.134%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,343.7	+0.101%	$5.6M	$2.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,376.7	+0.862%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340.7	+0.032%	$293.6M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.2	+0.044%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,342.2	+0.067%	$4.3M	$37.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.1	+0.088%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0056%	1h	4,339.3	long leg	$2.1M	$4.7M	25x
Paradex XAU-USD-PERP	+0.0062%	8h	4,343.8	+0.105%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,345.5	+0.143%	$20.2M	$40.1M	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,345.4	+0.141%	$268.3M	$418.2M	100x	as long as short
Aster XAUUSD1	+0.0095%	4h	4,345.5	+0.142%	$71.5M	$331.7M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,340.2	+0.021%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.8	+0.035%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0107%	4h	4,343.1	+0.087%	$48.4M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.3	+0.092%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,344.1	+0.111%	$371.5M	$320.9M	1000x	as long as short
Binance XAUUSDTshort	+0.0119%	4h	4,344	+0.109%	$418.4M	$2.09B	100x
Phoenix GOLD	+0.0136%	1h	4,340.9	+0.037%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0136%	4h	4,340.1	+0.018%	$30.2M	$58.3M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0165%	1h	4,342.4	+0.071%	$205K	$825K	25x	as long as short
Phemex XAUUSDT	+0.0170%	4h	4,346.7	+0.170%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0172%	4h	4,344.3	+0.115%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0209%	1h	4,343.6	+0.099%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0210%	1h	4,344.1	+0.111%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.5	+0.028%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0270%	4h	4,344.8	+0.126%	$71.1M	$109.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0327%	8h	4,344.7	+0.124%	$167.1M	$282.6M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,344.1	+0.110%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,344.1	+0.111%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0501%	4h	4,346.8	+0.173%	$2.8M	$4.6M	75x	as long as short