Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0518%/8h= −56.7% APRpaid last 24h −0.059%

Price spread now: gTrade (Gains Network) against HTX−0.162%7-day average −0.159% · 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−$285as in the Price arb table

costs, in and out, $10k−$2852.846% of the position

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.059%−$6 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.162%, 7d avg −0.159%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.159%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.059% in total (about -6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,363.9	0.0521	pay 0.0260% / 4h	2h 35m	$2.9M	$3.9M	75x
Short	gTrade (Gains Network) XAU/USD	4,356.8	L +0.0002% / S −0.0003%	get 0.0000% / 1h	35m 06s	$270K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.162%Rate

Funding earned: −$108.69
Price spread: −0.162% → −0.159%: −$0.31
Slippage, 4 orders: −$265.62
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$393.63
Costs to cover: 2.846%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 64 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, 4 min ago	0.01 bp	8.4 bp −$8	12.9 bp −$129	29.2 bp −$2,923	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 64 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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
Hotstuff GOLD-PERP	0.0000%	1h	4,356.8	−0.163%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.7	−0.050%	$263.1M	$408.7M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,357.4	−0.149%	$4.1M	$36.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,364.1	+0.005%	$93K	$9.7M	20x	as long as short
Aster XAUUSD1	+0.0001%	4h	4,361.3	−0.060%	$70.2M	$292.9M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,356.8	−0.162%	$270K	—	250x
Extended XAU-USD	+0.0032%	1h	4,356.6	−0.167%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.309%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.4	−0.126%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,393	+0.667%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,359.5	−0.102%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,361.8	−0.049%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357.1	−0.156%	$294.2M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,357.4	−0.148%	$14.9M	$57.9M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,358.5	−0.124%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,359	−0.112%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	−0.169%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,357.1	−0.156%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,359.8	−0.094%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.314%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0086%	4h	4,360.1	−0.086%	$374.3M	$322.4M	1000x	as long as short
Binance XAUUSDT	+0.0087%	4h	4,360	−0.088%	$409.8M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,356.2	−0.175%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.6	−0.259%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,400.4	+0.836%	$26K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,359.5	−0.100%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.202%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,360.3	−0.083%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	−0.147%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0154%	4h	4,360.6	−0.075%	$69.3M	$109.8M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,360	−0.089%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,358.8	−0.117%	$235K	$662K	25x	as long as short
Bybit XAUUSDT	+0.0193%	4h	4,361.1	−0.064%	$84.2M	$143.7M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0227%	8h	4,361.9	−0.046%	$165.1M	$284.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358	−0.136%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.021%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0349%	4h	4,361.3	−0.060%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,360.4	−0.080%	$253K	—	111x	as long as short
HTX XAU-USDTlong	+0.0521%	4h	4,363.9	long leg	$2.9M	$3.9M	75x