Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h −0.038%

Price spread now: edgeX against Deribit−0.110%75s7-day average −0.049% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.221% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.693%−$69 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now −0.110%, 7d avg −0.049%

Together, before fees−0.782%+ Points / potential airdropedgeX: Active · farm board−$78 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.061% cheaper against Deribit than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of −0.049%). If the spread goes back, that is −$6 on $10k: about 3.1 days of funding at the current rate (+$2 a day). Mind the row above: over the last 5 days funding on this pair cost −0.693%, so the current rate has only just turned in your favour. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,361.3	0.0117	pay 0.0015% / 1h	7m 36s	$195K	$481K	25x
Short	edgeX XAUUSDC	4,356.5	0.0183	get 0.0091% / 4h	3h 07m	$30.3M	$66.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpOrdersPrice spread, now −0.110%Rate

Funding earned: $13.86
Price spread: −0.110% → −0.049%: −$6.08
Slippage, 4 orders: −$6.09
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$14.31
Costs to cover: 0.221%
Break-even: 14.2 days

Slippage from Deribit: live order book, 54 min ago; edgeX: 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 Deribit live order book, 54 min ago	0.12 bp	9.0 bp −$9	9.5 bp −$95	doesn't fit	doesn't fit
Sell edgeX live order book, 5 min ago	0.23 bp	4.7 bp −$5	4.7 bp −$47	7.8 bp −$780	37.2 bp −$18.6K

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
SunX XAU-USDT	0.0000%	4h	4,366.8	+0.126%	$93K	$1.2M	20x	as long as short
Phemex XAUUSDT	0.0000%	4h	4,362.4	+0.026%	$2.3M	$183K	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0002%	1h	4,359.3	−0.047%	$349K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0032%	1h	4,359.3	−0.046%	$1.9M	$3.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,320.9	−0.927%	$615	$143K	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,362.8	+0.034%	$3.8M	$1.6M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,361.6	+0.007%	$6.1M	$4.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,397.6	+0.832%	—	$250K	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,361.4	+0.002%	$36K	$4K	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.5	−0.019%	$14.2M	$70.3M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0056%	24h	4,360.3	−0.023%	$4.2M	$53.0M	15x	as long as short
Gate XAU_USDT	+0.0070%	4h	4,364.1	+0.065%	$282.3M	$452.4M	100x	as long as short
Paradex XAU-USD-PERP	+0.0074%	8h	4,363.2	+0.044%	$3K	$11K	5x	as long as short
Aster XAUUSD1	+0.0082%	4h	4,364.2	+0.066%	$74.4M	$216.7M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0083%	1h	4,361.8	+0.011%	$4.4M	$1.4M	20x	as long as short
Lighter XAU	+0.0088%	1h	4,363	+0.040%	$20.0M	$28.2M	25x	as long as short
RISEx XAU/USDC	+0.0088%	1h	4,363.5	+0.051%	$3.6M	$16.9M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.9	−0.009%	$1.4M	$1.5M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,358.3	−0.068%	$290K	$223K	50x	as long as short
tradeXYZ xyz:GOLD	+0.0101%	1h	4,361.4	+0.002%	$297.1M	$46.9M	25x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,362.5	+0.028%	$53K	$68K	10x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0117%	1h	4,361.3	long leg	$195K	$481K	25x
Aevo XAU-PERP	+0.0120%	1h	4,362.8	+0.034%	$162K	—	10x	as long as short
Extended XAU-USD	+0.0128%	1h	4,359.7	−0.036%	$11.8M	$37.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0140%	4h	4,361.5	+0.004%	$1.4M	$2.8M	25x	as long as short
Lighter RH XAU	+0.0152%	1h	4,364.8	+0.080%	$20.3M	$39.2M	25x	as long as short
Variational Omni XAU	+0.0161%	4h	4,361.7	+0.010%	$45.7M	$28.9M	—	as long as short
MEXC XAU_USDT	+0.0168%	4h	4,362.5	+0.028%	$365.8M	$339.2M	1000x	as long as short
Binance XAUUSDT	+0.0168%	4h	4,362.5	+0.027%	$422.0M	$2.42B	100x	as long as short
Phoenix GOLD	+0.0172%	1h	4,361.6	+0.007%	$24K	$71K	25x	as long as short
edgeX XAUUSDCshort	+0.0183%	4h	4,356.5	−0.110%	$30.3M	$66.5M	50x
Kraken Futures PF_XAUUSD	+0.0233%	1h	4,360.5	−0.018%	$585K	$202K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,362.2	+0.020%	$67.2M	$142.6M	100x	as long as short
Bybit XAUUSDT	+0.0261%	4h	4,363.9	+0.060%	$92.0M	$170.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0277%	8h	4,362.8	+0.034%	$163.2M	$359.3M	100x	as long as short
Bluefin GOLD-PERP	+0.0326%	1h	4,356.3	−0.114%	$25K	$564	20x	as long as short
BloFin XAU-USDT	+0.0408%	4h	4,362.4	+0.025%	$16.4M	$6.3M	100x	as long as short
HTX XAU-USDT	+0.0505%	4h	4,366.6	+0.121%	$3.2M	$5.2M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0543% / S −0.0398%	1h	4,362.2	+0.020%	$250K	—	111x	as long as short