Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.013%

Price spread now: Deribit against HTX−0.081%7-day average −0.162% · 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−$17as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.693%+$69 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now −0.081%, 7d avg −0.162%

Together, before fees+0.624%+$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.081% dearer against HTX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,326.6	0.0219	pay 0.0110% / 4h	1h 42m	$2.8M	$4.9M	75x
Short	Deribit GOLD_USDC-PERPETUAL	4,323.1	0.0259	get 0.0032% / 1h	42m 15s	$192K	$832K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.081%Rate

Funding earned: $8.35
Price spread: −0.081% → −0.162%: $8.14
Slippage, 4 orders: −$5.95
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$8.46
Costs to cover: 0.250%
Break-even: 14.1 days

Slippage from HTX: live order book, 2 min ago; Deribit: live order book, 2 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 HTX live order book, 2 min ago	0.01 bp	8.6 bp −$9	11.8 bp −$118	16.1 bp −$1,610	doesn't fit
Sell Deribit live order book, 2 min ago	0.12 bp	5.7 bp −$6	7.8 bp −$78	doesn't fit	doesn't fit

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	−0.0121%	1h	4,317.3	−0.214%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.4	+0.018%	$92K	$7.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,320.5	−0.141%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0005%	4h	4,324.3	−0.054%	$77.3M	$156.1M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,320.2	−0.147%	$13.2M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.551%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,325.9	−0.016%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322	−0.106%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356	+0.680%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320	−0.152%	$291.5M	$51.7M	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	4,319.3	−0.168%	$15.0M	$55.7M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,323.2	−0.078%	$20.3M	$30.4M	25x	as long as short
Kalshi KXGOLDPERP	+0.0072%	24h	4,325.2	−0.032%	$3.8M	$43.4M	15x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,320.2	−0.148%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322.2	−0.101%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,323.2	−0.078%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,325.1	−0.035%	$72.5M	$301.0M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0084%	4h	4,319.7	−0.159%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0086%	4h	4,325.4	−0.027%	$282.3M	$413.2M	100x	as long as short
Variational Omni XAU	+0.0095%	4h	4,320.7	−0.135%	$47.3M	$29.2M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,325.7	−0.020%	$19.8M	$38.5M	25x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,323.5	−0.071%	$415.6M	$2.14B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.4	−0.143%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.5	−0.165%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,323.7	−0.067%	$364.1M	$328.2M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,320.4	−0.144%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323	−0.084%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,318.5	−0.188%	$30.0M	$61.4M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.6	−0.138%	$584K	$134K	25x	as long as short
Bullet GOLD-USD	+0.0184%	1h	4,323.7	−0.067%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,325.8	−0.019%	$4.2M	$12.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0210%	1h	4,323.4	−0.074%	$4.3M	$1.9M	20x	as long as short
HTX XAU-USDTlong	+0.0219%	4h	4,326.6	long leg	$2.8M	$4.9M	75x
Bitget XAUUSDT	+0.0232%	4h	4,323.5	−0.071%	$68.0M	$119.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0259%	1h	4,323.1	−0.081%	$192K	$832K	25x
OKX XAU-USDT-SWAP	+0.0312%	8h	4,324.2	−0.055%	$170.6M	$297.5M	100x	as long as short
BloFin XAU-USDT	+0.0341%	4h	4,323.3	−0.077%	$16.1M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0380%	4h	4,325.8	−0.017%	$2.2M	$967K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,324	−0.060%	$252K	—	111x	as long as short