Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.004%

Price spread now: Bybit against Coinbase International+0.079%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.389%−$39 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.079%, 7d avg +0.117%

Together, before fees−0.393%−$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.079% now, against its 7-day average of +0.117%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.389%, 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	4,326.6	0	get 0.0000% / 1h	1m 40s	$2.1M	$5.0M	25x
Short	Bybit XAUUSDT	4,330	0.0156	get 0.0078% / 4h	1h 01m	$82.9M	$166.9M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.079%Rate

Funding earned: $32.77
Price spread: +0.079% → +0.117%: −$3.82
Slippage, 4 orders: −$1.36
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $6.58
Costs to cover: 0.224%
Break-even: 5.6 days

Slippage from Coinbase International: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago	0.12 bp	5.6 bp −$6	8.0 bp −$80	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.01 bp	6.2 bp −$6	7.8 bp −$78	13.6 bp −$1,363	39.9 bp −$19.9K

XAU on 39 exchanges

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
Hotstuff GOLD-PERP	−3.2000%	1h	4,328.4	+0.042%	$35K	$3K	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,333.6	+0.163%	$92K	$5.7M	20x	as long as short
Coinbase International GOLD-PERP-INTXlong	0.0000%	1h	4,326.6	long leg	$2.1M	$5.0M	25x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,324.9	−0.040%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.551%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333.1	+0.150%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,328	+0.032%	$6.7M	$3.3M	20x	as long as short
Aster XAUUSD1	+0.0044%	4h	4,330.7	+0.095%	$71.6M	$276.6M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,363	+0.841%	—	$1.0M	25x	as long as short
Bluefin GOLD-PERP	+0.0049%	1h	4,323.3	−0.076%	$25K	$1K	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,326.6	0.000%	$292.3M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,324.6	−0.047%	$15.2M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,328	+0.032%	$2K	$13K	5x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,329.9	+0.077%	$299.8M	$452.8M	100x	as long as short
Variational Omni XAU	+0.0069%	4h	4,331.2	+0.107%	$47.2M	$28.4M	—	as long as short
Lighter XAU	+0.0080%	1h	4,328.1	+0.034%	$20.1M	$30.6M	25x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,328.9	+0.052%	$366.7M	$358.6M	1000x	as long as short
Binance XAUUSDT	+0.0083%	4h	4,328.7	+0.049%	$441.5M	$2.42B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0090%	4h	4,331.2	+0.107%	$1.4M	$3.1M	25x	as long as short
edgeX XAUUSDC	+0.0099%	4h	4,328.6	+0.045%	$30.3M	$66.6M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,324.9	−0.039%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,328.4	+0.042%	$287K	$227K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,328.3	+0.040%	$160K	$87	10x	as long as short
Lighter RH XAU	+0.0120%	1h	4,330.4	+0.088%	$19.6M	$40.5M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,329.8	+0.074%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0144%	24h	4,330	+0.079%	$3.5M	$51.5M	15x	as long as short
Bybit XAUUSDTshort	+0.0156%	4h	4,330	+0.079%	$82.9M	$166.9M	150x
Polymarket Perps GOLD-USD	+0.0162%	1h	4,329.8	+0.074%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0166%	1h	4,327.2	+0.014%	$135K	$661K	25x	as long as short
Bullet GOLD-USD	+0.0180%	1h	4,329.6	+0.068%	$59K	$77K	10x	as long as short
Phemex XAUUSDT	+0.0184%	4h	4,332.1	+0.126%	$2.3M	$775K	100x	as long as short
Extended XAU-USD	+0.0192%	1h	4,324.7	−0.045%	$12.5M	$34.2M	25x	as long as short
Bitget XAUUSDT	+0.0198%	4h	4,328.8	+0.052%	$73.1M	$140.2M	100x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,328.7	+0.048%	$4.7M	$13.3M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0228%	8h	4,329	+0.055%	$171.1M	$361.7M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0254%	1h	4,326.4	−0.004%	$583K	$166K	25x	as long as short
BloFin XAU-USDT	+0.0323%	4h	4,330.5	+0.091%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0258%	1h	4,329.1	+0.057%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1034%	4h	4,336.2	+0.222%	$3.2M	$7.1M	75x	as long as short