XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0138%/8h= −15.1% APRnext payment −$0.17 per $10,000 · paid last 24h −0.045%

Price spread now: Lighter against Deribit+0.069%7-day average +0.070% · 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−$13as in the Price arb table

costs, in and out, $10k−$130.126% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.700%−$70 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now +0.069%, 7d avg +0.070%

Together, before fees−0.667%+ Points / potential airdropLighter: Season 3 · farm board−$67 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,356.3	0.0186	pay 0.0023% / 1h	35m 49s	$234K	$661K	25x
Short	Lighter XAU	4,359.3	0.0048	get 0.0006% / 1h	35m 49s	$20.7M	$43.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$29.05
Price spread: +0.069% → +0.070%: −$0.09
Slippage, 4 orders: −$5.57
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$41.71
Costs to cover: 0.126%
Break-even: never at this rate

Slippage from Deribit: live order book, 33 min ago; Lighter: live order book, 8 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, 33 min ago	0.12 bp	7.9 bp −$8	9.1 bp −$91	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.29 bp	0.5 bp $0	1.5 bp −$15	8.0 bp −$800	20.7 bp −$10.3K

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
Bluefin GOLD-PERP	−0.0317%	1h	4,349.8	−0.148%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,360.1	+0.088%	$263.5M	$408.4M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,354.2	−0.048%	$4.1M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,361.3	+0.114%	$93K	$9.7M	20x	as long as short
Aster XAUUSD1	+0.0001%	4h	4,359.6	+0.076%	$70.2M	$293.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.5	−0.064%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354.5	−0.040%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,352.8	−0.080%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.135%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356	−0.007%	$3.8M	$4.7M	40x	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	4,390.7	+0.790%	—	$1.0M	25x	as long as short
Lighter XAUshort	+0.0048%	1h	4,359.3	+0.069%	$20.7M	$43.5M	25x
Lighter RH XAU	+0.0048%	1h	4,361.2	+0.112%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,356.4	+0.002%	$294.2M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.3	−0.045%	$14.9M	$57.8M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,356.7	+0.009%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,356.4	+0.002%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	+0.005%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.6	−0.039%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,357	+0.017%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.140%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,358.2	+0.045%	$373.8M	$322.3M	1000x	as long as short
Binance XAUUSDT	+0.0087%	4h	4,359.9	+0.082%	$409.8M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,356.2	−0.001%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.056%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,356.4	+0.001%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.028%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357	+0.016%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	+0.027%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0152%	4h	4,360	+0.084%	$69.3M	$109.8M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,357.4	+0.026%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0186%	1h	4,356.3	long leg	$234K	$661K	25x
Bybit XAUUSDT	+0.0193%	4h	4,361.4	+0.117%	$84.2M	$143.7M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0227%	8h	4,361.4	+0.117%	$165.1M	$284.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.9	−0.033%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.195%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0381%	4h	4,361.1	+0.110%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,357.1	+0.019%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0523%	4h	4,362.7	+0.146%	$2.9M	$3.9M	75x	as long as short