Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0363%/8h= +39.7% APRpaid last 24h −0.015%

Price spread now: HTX against Deribit+0.129%7-day average +0.163% · 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−$25as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.714%−$71 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.129%, 7d avg +0.163%

Together, before fees−0.696%−$70 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.035% cheaper against Deribit than usual: you would sell low and buy high (spread +0.129% now, against its 7-day average of +0.163%). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$11 a day). Mind the row above: over the last 4 days funding on this pair cost −0.714%, 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	Deribit GOLD_USDC-PERPETUAL	4,345.7	0.0256	pay 0.0032% / 1h	9m 29s	$206K	$825K	25x
Short	HTX XAU-USDT	4,351.3	0.0619	get 0.0310% / 4h	9m 29s	$2.8M	$4.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.129%Rate

Funding earned: $76.15
Price spread: +0.129% → +0.163%: −$3.49
Slippage, 4 orders: −$2.7
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: $50.95
Costs to cover: 0.217%
Break-even: 2.3 days

Slippage from Deribit: live order book, 49 min ago; HTX: live order book, 4 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, 49 min ago	0.12 bp	3.6 bp −$4	6.2 bp −$62	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	0.01 bp	8.5 bp −$8	11.8 bp −$118	17.6 bp −$1,762	27.7 bp −$13.8K

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	4,347.3	+0.038%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,349.4	+0.084%	$266.5M	$417.6M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.3	+0.128%	$92K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.1	−0.059%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,346.7	+0.022%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.7	−0.047%	$13.2M	$38.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.109%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,348.7	+0.068%	$20.1M	$39.4M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.4	+0.039%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,347	+0.030%	$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
Vest GC-PERP	+0.0046%	1h	4,380.3	+0.796%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.7	−0.046%	$2.0M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0049%	24h	4,345.3	−0.009%	$4.2M	$37.4M	15x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.8	−0.021%	$293.9M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344	−0.038%	$15.1M	$56.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,344.8	−0.021%	$33K	—	25x	as long as short
Aster XAUUSD1	+0.0063%	4h	4,349	+0.075%	$71.4M	$333.1M	20x	as long as short
Variational Omni XAU	+0.0076%	4h	4,345.3	−0.010%	$48.4M	$28.2M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,347.5	+0.041%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0088%	4h	4,347.9	+0.050%	$372.8M	$320.5M	1000x	as long as short
Binance XAUUSDT	+0.0090%	4h	4,347.9	+0.050%	$413.9M	$2.10B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0090%	4h	4,347	+0.029%	$1.4M	$2.9M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.7	−0.046%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	−0.056%	$274K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,340.4	−0.122%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,342.2	−0.080%	$30.2M	$58.0M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.3	+0.014%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,344.7	−0.023%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0166%	1h	4,347.8	+0.048%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0187%	1h	4,347	+0.030%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,344	−0.038%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0232%	4h	4,349.4	+0.085%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,348.3	+0.059%	$70.1M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,349.1	+0.078%	$85.1M	$145.3M	150x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0256%	1h	4,345.7	long leg	$206K	$825K	25x
OKX XAU-USDT-SWAP	+0.0299%	8h	4,349	+0.076%	$165.3M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0329%	4h	4,346.1	+0.009%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0418% / S −0.0239%	1h	4,347.3	+0.037%	$248K	—	111x	as long as short
HTX XAU-USDTshort	+0.0619%	4h	4,351.3	+0.129%	$2.8M	$4.6M	75x