Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.003%

Price spread now: Gate against Hotstuff+0.132%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Gate is 0.132% dearer against Hotstuff than usual: you sell high and buy low (spread +0.132% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff GOLD-PERP	4,331	0.0152	pay 0.0019% / 1h	6m 18s	$32K	—	25x
Short	Gate XAU_USDT	4,336.7	0.0062	get 0.0031% / 4h	2h 06m	$271.0M	$419.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hotstuff. 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 HotstuffbpFee GatebpOrdersPrice spread, now +0.132%Rate

Funding earned: −$18.9
Price spread: +0.132% → 0.000%: $13.21
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$25.69
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 3 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	0.01 bp	7.5 bp −$8	8.8 bp −$88	13.9 bp −$1,393	17.4 bp −$8,685

Hotstuff: 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
SunX XAU-USDT	0.0000%	4h	4,338.8	+0.181%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,331.8	+0.018%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,335.9	+0.112%	$78.4M	$156.4M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,331.7	+0.016%	$13.1M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.448%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337	+0.139%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,334.2	+0.074%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,368.5	+0.866%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,335.7	+0.109%	$20.4M	$31.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,332	+0.023%	$292.1M	$51.6M	25x	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	4,332.2	+0.027%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,337.2	+0.143%	$3.8M	$12.5M	25x	as long as short
Gate XAU_USDTshort	+0.0062%	4h	4,336.7	+0.132%	$271.0M	$419.1M	100x
Kalshi KXGOLDPERP	+0.0064%	24h	4,337.1	+0.141%	$4.0M	$42.2M	15x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,336.4	+0.125%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,337.6	+0.153%	$19.9M	$39.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,333.5	+0.058%	$2.0M	$4.8M	25x	as long as short
Aster XAUUSD1	+0.0094%	4h	4,336.8	+0.133%	$72.4M	$329.9M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,332.7	+0.038%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330	−0.023%	$273K	$208K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,329.5	−0.034%	$25K	$14K	20x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	+0.011%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0104%	4h	4,333.5	+0.057%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,335.4	+0.102%	$364.1M	$331.1M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,335.2	+0.096%	$414.5M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,335	+0.092%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,327.8	−0.074%	$30.1M	$60.3M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,330.6	−0.009%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERPlong	+0.0152%	1h	4,331	long leg	$32K	—	25x
Bullet GOLD-USD	+0.0159%	1h	4,335.8	+0.110%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0176%	1h	4,335.2	+0.097%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0227%	4h	4,339	+0.184%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,332.5	+0.034%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0250%	4h	4,334.9	+0.091%	$68.1M	$118.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0304%	1h	4,334.5	+0.081%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0328%	8h	4,335.6	+0.106%	$170.6M	$297.4M	100x	as long as short
Phemex XAUUSDT	+0.0351%	4h	4,336.7	+0.133%	$2.2M	$962K	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,334.5	+0.081%	$16.0M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0304%	1h	4,335.3	+0.100%	$253K	—	111x	as long as short