Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0032%/8hnext payment −$0.04 per $10,000 · paid last 24h +0.015%

Price spread now: Lighter against Hotstuff+0.056%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 Lighter

What this pair did over the last

the charts below follow

Funding, last 3 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 · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.056% dearer against Hotstuff than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff GOLD-PERP	4,353.6	0.0104	pay 0.0013% / 1h	23m 31s	$33K	—	25x
Short	Lighter XAU	4,356.1	0.0072	get 0.0009% / 1h	23m 31s	$20.8M	$46.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$6.72
Price spread: +0.056% → 0.000%: $5.63
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.09
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; Lighter: live order book, 9 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 Lighter live order book, 9 min ago	0.36 bp	0.8 bp −$1	1.8 bp −$18	9.8 bp −$983	21.9 bp −$10.9K

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	4,360	+0.147%	$93K	$11.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.7	−0.021%	$267K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.073%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0034%	24h	4,352.8	−0.018%	$4.2M	$30.9M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.2	+0.060%	$3.8M	$4.4M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.9	+0.857%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,353.6	0.000%	$294.1M	$51.5M	25x	as long as short
QFEX GOLD-USD	+0.0050%	1h	4,355.1	+0.034%	$5.5M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.7	−0.045%	$14.9M	$51.2M	25x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,358.2	+0.106%	$273.7M	$406.2M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0069%	8h	4,356.6	+0.068%	$19K	$6K	5x	as long as short
Lighter XAUshort	+0.0072%	1h	4,356.1	+0.056%	$20.8M	$46.2M	25x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,353.6	0.000%	$2.0M	$5.2M	25x	as long as short
RISEx XAU/USDC	+0.0100%	1h	4,356.4	+0.065%	$3.6M	$12.3M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.5	−0.002%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352	−0.038%	$273K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,350.4	−0.073%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERPlong	+0.0104%	1h	4,353.6	long leg	$33K	—	25x
Aevo XAU-PERP	+0.0112%	1h	4,356.1	+0.058%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0113%	1h	4,355.6	+0.047%	$59K	$77K	10x	as long as short
Extended XAU-USD	+0.0120%	1h	4,353	−0.013%	$13.2M	$51.1M	25x	as long as short
Variational Omni XAU	+0.0134%	4h	4,355.3	+0.040%	$47.7M	$34.5M	—	as long as short
MEXC XAU_USDT	+0.0138%	4h	4,356.2	+0.060%	$379.2M	$334.4M	1000x	as long as short
Binance XAUUSDT	+0.0140%	4h	4,356.1	+0.057%	$415.3M	$2.07B	100x	as long as short
Aster XAUUSD1	+0.0148%	4h	4,356.8	+0.074%	$70.3M	$240.4M	20x	as long as short
Phoenix GOLD	+0.0151%	1h	4,353.7	+0.002%	$43K	$64K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0156%	4h	4,356	+0.056%	$1.4M	$3.4M	25x	as long as short
edgeX XAUUSDC	+0.0156%	4h	4,352	−0.037%	$30.3M	$56.7M	50x	as long as short
Lighter RH XAU	+0.0160%	1h	4,358.9	+0.122%	$20.4M	$44.8M	25x	as long as short
Bybit XAUUSDT	+0.0172%	4h	4,357.2	+0.083%	$84.1M	$140.1M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0198%	1h	4,356.8	+0.074%	$4.4M	$2.3M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,355.7	+0.048%	$222K	$959K	25x	as long as short
Bitget XAUUSDT	+0.0268%	4h	4,356	+0.054%	$69.0M	$109.3M	100x	as long as short
HTX XAU-USDT	+0.0286%	4h	4,358.3	+0.108%	$2.8M	$3.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0311%	8h	4,357.6	+0.092%	$158.1M	$268.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,354.1	+0.011%	$588K	$108K	25x	as long as short
Phemex XAUUSDT	+0.0339%	4h	4,358.8	+0.120%	$2.2M	$1.1M	100x	as long as short
BloFin XAU-USDT	+0.0380%	4h	4,356	+0.054%	$14.9M	$4.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0456% / S −0.0289%	1h	4,355.8	+0.051%	$251K	—	111x	as long as short