Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0205%/8h= +22.4% APRpaid last 24h +0.051%

Price spread now: Bitget against Injective−0.489%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bitget

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—needs both histories

Funding pays, the price is against you. Bitget is 0.489% cheaper against Injective than usual: you would sell low and buy high (spread −0.489% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$49 on $10k: about 8.0 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAU/USDC PERP	4,350.4	0.0033	pay 0.0004% / 1h	1m 24s	$619	$54	52x
Short	Bitget XAUUSDT	4,329.2	0.0238	get 0.0119% / 4h	2h 01m	$68.0M	$118.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −0.489%Rate

Funding earned: $42.98
Price spread: −0.489% → 0.000%: −$48.87
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$17.91
Costs to cover: 0.120%
Break-even: 9.9 days

Slippage unknown: Injective: no order-book sample; Bitget: 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	0.01 bp	6.3 bp −$6	7.4 bp −$74	11.7 bp −$1,170	doesn't fit

Injective: 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
Bybit XAUUSDT	0.0000%	4h	4,329.5	−0.480%	$78.2M	$156.6M	150x	as long as short
SunX XAU-USDT	0.0000%	4h	4,332.6	−0.410%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,325.2	−0.579%	$271K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,325.5	−0.573%	$13.1M	$36.7M	25x	as long as short
Injective XAU/USDC PERPlong	+0.0033%	1h	4,350.4	long leg	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,331	−0.446%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,328.5	−0.504%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,361.5	+0.255%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,328.5	−0.505%	$20.4M	$31.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,325.6	−0.571%	$291.7M	$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	4,325	−0.585%	$15.0M	$56.3M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,329.5	−0.481%	$3.8M	$12.5M	25x	as long as short
Gate XAU_USDT	+0.0060%	4h	4,330.6	−0.456%	$269.6M	$420.5M	100x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,328.8	−0.497%	$32K	—	25x	as long as short
Kalshi KXGOLDPERP	+0.0065%	24h	4,329.8	−0.474%	$4.0M	$42.3M	15x	as long as short
Paradex XAU-USD-PERP	+0.0068%	8h	4,329.3	−0.485%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,330.7	−0.454%	$19.8M	$39.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,325.1	−0.582%	$2.0M	$4.8M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0076%	4h	4,329.4	−0.484%	$1.4M	$3.0M	25x	as long as short
Aster XAUUSD1	+0.0083%	4h	4,329.5	−0.482%	$72.3M	$328.3M	20x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,328.5	−0.505%	$413.1M	$2.12B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,325.6	−0.570%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,328.8	−0.498%	$364.3M	$332.1M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.6	−0.455%	$273K	$208K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,322.8	−0.634%	$25K	$14K	20x	as long as short
Variational Omni XAU	+0.0101%	4h	4,334.6	−0.364%	$46.8M	$28.7M	—	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,327.1	−0.535%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,327.9	−0.517%	$30.1M	$60.6M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,327.4	−0.529%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0157%	1h	4,328.9	−0.495%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0173%	1h	4,328.7	−0.499%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0200%	4h	4,331.9	−0.426%	$2.8M	$5.0M	75x	as long as short
Bitget XAUUSDTshort	+0.0238%	4h	4,329.2	−0.489%	$68.0M	$118.8M	100x
Kraken Futures PF_XAUUSD	+0.0248%	1h	4,325.9	−0.563%	$589K	$130K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0282%	1h	4,328.1	−0.513%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0321%	8h	4,329.4	−0.483%	$170.6M	$297.1M	100x	as long as short
BloFin XAU-USDT	+0.0363%	4h	4,328.9	−0.494%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0393%	4h	4,331.6	−0.433%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0306%	1h	4,329.2	−0.487%	$253K	—	111x	as long as short