Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.038%

Price spread now: Aster against Deribit+0.040%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.703%−$70 on $10k

Price spread, last 4 days (all we have)+0.030%+$3 · spread now +0.040%, 7d avg +0.118%

Together, before fees−0.673%+ Points / potential airdropAster: Stage 5 · farm board−$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.079% cheaper against Deribit than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.118%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,348	0.0233	pay 0.0029% / 1h	38m 24s	$243K	$788K	25x
Short	Aster XAUUSD1	4,349.7	0.0065	get 0.0033% / 4h	38m 24s	$71.0M	$333.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$35.32
Price spread: +0.040% → +0.118%: −$7.85
Slippage, 4 orders: −$0.25
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$58.42
Costs to cover: 0.153%
Break-even: never at this rate

Slippage from Deribit: live order book, 20 min ago; Aster: live order book, 6 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 Deribit live order book, 20 min ago	0.12 bp	3.6 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	0.01 bp	4.0 bp −$4	4.4 bp −$44	22.4 bp −$2,235	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
RISEx XAU/USDC	0.0000%	1h	4,348.8	+0.018%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,353.4	+0.125%	$93K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.5	−0.057%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0012%	4h	4,350.1	+0.048%	$267.9M	$411.0M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,347.7	−0.006%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.5	−0.058%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.056%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.8	+0.041%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.030%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,348.4	+0.009%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0044%	24h	4,346.5	−0.034%	$4.2M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.2	+0.787%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,345.7	−0.053%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.8	−0.051%	$293.9M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.5	−0.057%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1short	+0.0065%	4h	4,349.7	+0.040%	$71.0M	$333.7M	20x
Variational Omni XAU	+0.0079%	4h	4,348.9	+0.021%	$48.4M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	+0.025%	$1.4M	$3.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,348.8	+0.019%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,349.3	+0.030%	$372.2M	$317.1M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,349.4	+0.032%	$414.4M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	−0.061%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.6	−0.056%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,348.5	+0.011%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,345	−0.069%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0142%	1h	4,346.8	−0.028%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,345.7	−0.053%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0156%	1h	4,348.8	+0.018%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,346.1	−0.044%	$593K	$133K	25x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,349.4	+0.032%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0209%	4h	4,351.5	+0.080%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0233%	1h	4,348	long leg	$243K	$788K	25x
Bitget XAUUSDT	+0.0234%	4h	4,349.6	+0.037%	$70.0M	$109.1M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,350.5	+0.057%	$85.1M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0283%	8h	4,350.4	+0.055%	$165.6M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0343%	4h	4,348.5	+0.011%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0229%	1h	4,349.4	+0.032%	$248K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0475%	1h	4,342.6	−0.125%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0629%	4h	4,353.6	+0.128%	$2.9M	$4.3M	75x	as long as short