Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.042%

Price spread now: Bitget against Lighter−0.004%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$130.131% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.004%, 7d avg +0.056%

Together, before fees+0.103%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.060% cheaper against Lighter than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.056%). If the spread goes back, that is −$6 on $10k: about 40 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.076% in total) that is about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,316.1	0.0072	pay 0.0009% / 1h	10m 53s	$20.3M	$30.1M	25x
Short	Bitget XAUUSDT	4,315.9	0.0192	get 0.0096% / 4h	10m 53s	$70.5M	$120.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. 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 LighterbpFee BitgetbpOrdersPrice spread, now −0.004%Rate

Funding earned: $25.2
Price spread: −0.004% → +0.056%: −$6.04
Slippage, 4 orders: −$1.13
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $6.03
Costs to cover: 0.131%
Break-even: 5.3 days

Slippage from Lighter: live order book, 13 min ago; Bitget: live order book, 3 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 Lighter live order book, 13 min ago	0.49 bp	0.5 bp $0	1.5 bp −$15	6.5 bp −$648	17.8 bp −$8,921
Sell Bitget live order book, 3 min ago	0.01 bp	6.1 bp −$6	7.6 bp −$76	11.5 bp −$1,146	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
SunX XAU-USDT	0.0000%	4h	4,321.1	+0.115%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,313.2	−0.067%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.795%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,316.8	+0.016%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,349.7	+0.779%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,313.8	−0.053%	$290.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,313.1	−0.070%	$15.0M	$55.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0054%	1h	4,311.4	−0.108%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,314.5	−0.037%	$32K	—	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,317.3	+0.029%	$73.0M	$271.8M	20x	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	+0.0063%	8h	4,317.4	+0.030%	$2K	$14K	5x	as long as short
Bybit XAUUSDT	+0.0067%	4h	4,316.6	+0.013%	$77.9M	$153.6M	150x	as long as short
Lighter XAUlong	+0.0072%	1h	4,316.1	long leg	$20.3M	$30.1M	25x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,315.3	−0.018%	$2.0M	$5.1M	25x	as long as short
StandX XAU-USD	+0.0092%	1h	4,320	+0.091%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0096%	1h	4,315.7	−0.009%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0098%	24h	4,319.1	+0.070%	$3.7M	$44.9M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.009%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,314.5	−0.037%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.6	−0.012%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,318.6	+0.057%	$19.9M	$40.1M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,315.7	−0.009%	$363.3M	$336.0M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,315.8	−0.006%	$429.4M	$2.14B	100x	as long as short
Extended XAU-USD	+0.0112%	1h	4,312.5	−0.083%	$13.2M	$36.7M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,316.7	+0.013%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,309.9	−0.143%	$30.0M	$60.5M	50x	as long as short
Gate XAU_USDT	+0.0114%	4h	4,317.7	+0.038%	$286.9M	$427.5M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,319.3	+0.075%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDTshort	+0.0192%	4h	4,315.9	−0.004%	$70.5M	$120.1M	100x
Bullet GOLD-USD	+0.0202%	1h	4,317.2	+0.026%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0223%	1h	4,317.4	+0.030%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,314.8	−0.031%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0267%	8h	4,316.1	0.000%	$175.2M	$302.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0330%	1h	4,316	−0.002%	$161K	$876K	25x	as long as short
BloFin XAU-USDT	+0.0351%	4h	4,317.1	+0.024%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0408%	4h	4,319.5	+0.078%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0312%	1h	4,316.9	+0.019%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0525%	4h	4,324.6	+0.197%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,317.4	+0.029%	$4.5M	$13.3M	25x	as long as short