XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0398%/8h= −43.6% APRnext payment −$0.50 per $10,000 · paid last 24h −0.093%

Price spread now: Lighter against GMX−0.023%7-day average −0.050% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.325%−$33 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.023%, 7d avg −0.050%

Together, before fees−0.344%+ Points / potential airdropLighter: Season 3 · farm board−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.027% dearer against GMX than usual: you sell high and buy low (spread −0.023% now, against its 7-day average of −0.050%): +$3 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX GOLD/USD [ETH-USDC]	4,325.9	L +0.0462% / S −0.0307%	pay 0.0058% / 1h	33m 25s	$253K	—	111x
Short	Lighter XAU	4,324.8	0.0064	get 0.0008% / 1h	33m 25s	$20.5M	$29.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GMX. 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 GMXbpFee LighterbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$83.65
Price spread: −0.023% → −0.050%: $2.65
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$92.99
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	0.57 bp	0.6 bp −$1	1.8 bp −$18	9.4 bp −$942	23.1 bp −$11.5K

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0097%	1h	4,320.3	−0.129%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	−0.0096%	1h	4,322.5	−0.078%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,330.1	+0.097%	$92K	$7.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,321.6	−0.099%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.568%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.2	+0.031%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,324.6	−0.029%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358.1	+0.745%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,322.6	−0.075%	$291.8M	$51.5M	25x	as long as short
Bybit XAUUSDT	+0.0050%	4h	4,326.8	+0.022%	$77.6M	$152.8M	150x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.7	−0.096%	$15.0M	$55.6M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,326.8	+0.023%	$72.9M	$272.0M	20x	as long as short
Lighter XAUshort	+0.0064%	1h	4,324.8	−0.023%	$20.5M	$29.2M	25x
Paradex XAU-USD-PERP	+0.0066%	8h	4,324.8	−0.024%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322.2	−0.084%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.9	−0.022%	$47.2M	$29.3M	—	as long as short
Kalshi KXGOLDPERP	+0.0092%	24h	4,327.8	+0.045%	$3.8M	$44.6M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,323.3	−0.059%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,325.9	0.000%	$363.4M	$327.5M	1000x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.1	−0.087%	$1.4M	$1.2M	10x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,326.8	+0.021%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.7	−0.073%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,325.8	−0.002%	$425.2M	$2.13B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.1	−0.016%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,327.9	+0.047%	$284.3M	$416.2M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,323.1	−0.064%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,327.7	+0.042%	$20.0M	$39.1M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,321.6	−0.100%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,325.7	−0.004%	$70.1M	$118.6M	100x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,326	+0.003%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,326	+0.003%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,322.9	−0.068%	$578K	$135K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0259%	1h	4,324	−0.043%	$163K	$871K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0276%	8h	4,326.3	+0.010%	$173.9M	$299.1M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,325.8	−0.002%	$16.4M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0361%	4h	4,328.9	+0.071%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0415%	4h	4,331.9	+0.139%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0462% / S −0.0307%	1h	4,325.9	long leg	$253K	—	111x
RISEx XAU/USDC	+0.0643%	1h	4,325.7	−0.005%	$4.6M	$13.3M	25x	as long as short