Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0133%/8h= −14.5% APRpaid last 24h −0.046%

Price spread now: gTrade (Gains Network) against edgeX−0.091%7-day average +0.010% · 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−$287as in the Price arb table

costs, in and out, $10k−$2772.767% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.228%+$23 · spread now −0.091%, 7d avg +0.010%

Together, before fees+0.169%+ Points / potential airdropedgeX: Active · farm board+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and gTrade (Gains Network) is 0.101% cheaper against edgeX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XAUUSDC	4,348.4	0.0136	pay 0.0068% / 4h	1h 50m	$30.3M	$58.7M	50x
Short	gTrade (Gains Network) XAU/USD	4,344.4	L +0.0002% / S −0.0003%	get 0.0000% / 1h	50m 45s	$269K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against edgeX. 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 edgeXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.091%Rate

Funding earned: −$27.83
Price spread: −0.091% → +0.010%: −$10.12
Slippage, 4 orders: −$260.71
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$314.65
Costs to cover: 2.767%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 43 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 edgeX live order book, 3 min ago	0.34 bp	4.8 bp −$5	5.0 bp −$50	8.2 bp −$818	35.1 bp −$17.5K
Sell gTrade (Gains Network) virtual book (oracle venue), 43 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	doesn't fit

XAU on 38 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	−0.0103%	1h	4,343.3	−0.118%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,347.9	−0.012%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,350.4	+0.047%	$264.2M	$405.8M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.9	+0.080%	$92K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,344.4	−0.091%	$269K	—	250x
RISEx XAU/USDC	+0.0010%	1h	4,348.8	+0.008%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344.5	−0.089%	$13.6M	$40.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.046%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0037%	24h	4,346.5	−0.044%	$4.1M	$36.2M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,354.8	+0.147%	$3.8M	$4.6M	40x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,382.1	+0.775%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,348.1	−0.007%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,347.5	−0.021%	$20.6M	$41.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.6	−0.088%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.9	−0.058%	$293.3M	$48.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.2	−0.074%	$15.1M	$57.8M	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,349.7	+0.030%	$70.1M	$329.3M	20x	as long as short
Lighter RH XAU	+0.0072%	1h	4,349.9	+0.033%	$20.1M	$39.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,348.3	−0.002%	$19K	$5K	5x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	−0.072%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,350.6	+0.051%	$275K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,347.9	−0.012%	$48.3M	$27.9M	—	as long as short
Polymarket Perps GOLD-USD	+0.0103%	1h	4,346.7	−0.039%	$4.3M	$1.9M	20x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,348.1	−0.007%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,348.7	+0.006%	$371.4M	$315.9M	1000x	as long as short
Binance XAUUSDT	+0.0114%	4h	4,348.6	+0.004%	$410.2M	$2.10B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,353.6	+0.119%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDClong	+0.0136%	4h	4,348.4	long leg	$30.3M	$58.7M	50x
Phoenix GOLD	+0.0136%	1h	4,352	+0.082%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0194%	1h	4,348.2	−0.005%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0204%	4h	4,349.8	+0.032%	$83.9M	$145.0M	150x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,348.9	+0.011%	$69.6M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,350	+0.036%	$164.6M	$282.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,345.4	−0.070%	$593K	$133K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0279%	1h	4,347.6	−0.019%	$259K	$702K	25x	as long as short
Phemex XAUUSDT	+0.0332%	4h	4,352.3	+0.090%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0398% / S −0.0207%	1h	4,348.7	+0.007%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0606%	4h	4,353.1	+0.108%	$2.8M	$4.2M	75x	as long as short