XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0138%/8h= +15.1% APRnext payment +$0.17 per $10,000 · paid last 24h +0.045%

Price spread now: Deribit against Lighter−0.013%7-day average −0.070% · 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−$7as in the Price arb table

costs, in and out, $10k−$130.126% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.700%+$70 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now −0.013%, 7d avg −0.070%

Together, before fees+0.611%+ Points / potential airdropLighter: Season 3 · farm board+$61 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.057% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,356.9	0.0048	pay 0.0006% / 1h	36m 04s	$20.7M	$43.5M	25x
Short	Deribit GOLD_USDC-PERPETUAL	4,356.3	0.0186	get 0.0023% / 1h	36m 04s	$234K	$661K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.013%Rate

Funding earned: $29.05
Price spread: −0.013% → −0.070%: $5.69
Slippage, 4 orders: −$5.57
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $22.17
Costs to cover: 0.126%
Break-even: 1.7 days

Slippage from Lighter: live order book, 8 min ago; Deribit: live order book, 33 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, 8 min ago	0.29 bp	0.6 bp −$1	2.1 bp −$21	8.1 bp −$809	18.7 bp −$9,337
Sell Deribit live order book, 33 min ago	0.12 bp	3.6 bp −$4	5.3 bp −$53	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	−0.0317%	1h	4,349.8	−0.162%	$25K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,358.7	+0.041%	$70.2M	$293.2M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.2	+0.053%	$263.5M	$408.3M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,354.2	−0.062%	$4.1M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,361.3	+0.101%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.5	−0.077%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.8	−0.070%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,352.8	−0.094%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.148%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356	−0.020%	$3.8M	$4.7M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,390.7	+0.776%	—	$1.0M	25x	as long as short
Lighter XAUlong	+0.0048%	1h	4,356.9	long leg	$20.7M	$43.5M	25x
Lighter RH XAU	+0.0048%	1h	4,359.2	+0.052%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.7	−0.050%	$294.1M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.3	−0.059%	$14.9M	$57.8M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,356.7	−0.004%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,356.4	−0.011%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	−0.008%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.6	−0.052%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,357	+0.004%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.153%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,357.6	+0.016%	$373.6M	$322.2M	1000x	as long as short
Binance XAUUSDT	+0.0086%	4h	4,358	+0.026%	$409.6M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.7	−0.096%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.069%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,356.4	−0.012%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.041%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357	+0.003%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	+0.014%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0152%	4h	4,357.8	+0.022%	$69.2M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,357.4	+0.012%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0186%	1h	4,356.3	−0.013%	$234K	$661K	25x
Bybit XAUUSDT	+0.0190%	4h	4,359.3	+0.056%	$84.2M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0226%	8h	4,359.6	+0.062%	$165.0M	$284.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.9	−0.046%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.182%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0381%	4h	4,361.1	+0.097%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,357.1	+0.006%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0523%	4h	4,362.7	+0.133%	$2.9M	$3.9M	75x	as long as short