Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.023%

Price spread now: edgeX against Lighter−0.194%109s7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$110.111% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.196%+$20 · spread now −0.194%, 7d avg −0.054%

Together, before fees+0.225%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.140% cheaper against Lighter than usual: you would sell low and buy high (spread −0.194% now, against its 7-day average of −0.054%). If the spread goes back, that is −$14 on $10k: about 13 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.029% in total) that is about 34 days. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,358.7	0.0048	pay 0.0006% / 1h	33m 47s	$20.7M	$43.5M	25x
Short	edgeX XAUUSDC	4,350.2	0.0084	get 0.0042% / 4h	2h 33m	$30.3M	$60.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.194%Rate

Funding earned: $7.46
Price spread: −0.194% → −0.054%: −$13.99
Slippage, 4 orders: −$2.08
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$17.61
Costs to cover: 0.111%
Break-even: 23.5 days

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 5 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, 5 min ago	0.68 bp	0.7 bp −$1	1.9 bp −$19	7.2 bp −$721	16.2 bp −$8,111
Sell edgeX live order book, 5 min ago	0.12 bp	4.6 bp −$5	4.6 bp −$46	7.4 bp −$742	36.5 bp −$18.3K

XAU on 38 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	4,357	−0.038%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,362	+0.076%	$262.9M	$409.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,358.1	−0.013%	$4.1M	$36.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,363.9	+0.120%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.8	−0.021%	$270K	—	250x	as long as short
Aster XAUUSD1	+0.0004%	4h	4,360.4	+0.040%	$70.2M	$293.3M	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,358	−0.016%	$13.6M	$42.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.189%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,360.5	+0.042%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,394.1	+0.813%	—	$1.0M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAUlong	+0.0048%	1h	4,358.7	long leg	$20.7M	$43.5M	25x
Lighter RH XAU	+0.0048%	1h	4,361	+0.053%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,356.6	−0.047%	$294.2M	$48.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,356	−0.061%	$14.9M	$57.9M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,358.1	−0.013%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0059%	1h	4,359.6	+0.022%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	−0.049%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.9	−0.086%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,359.2	+0.012%	$19K	$5K	5x	as long as short
edgeX XAUUSDCshort	+0.0084%	4h	4,350.2	−0.194%	$30.3M	$60.6M	50x
MEXC XAU_USDT	+0.0086%	4h	4,361	+0.053%	$374.1M	$322.5M	1000x	as long as short
Binance XAUUSDT	+0.0088%	4h	4,359.6	+0.021%	$409.7M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,356	−0.061%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.6	−0.139%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,353.7	−0.114%	$26K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,360.1	+0.032%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.082%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,359.3	+0.015%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	−0.027%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,360	+0.031%	$235K	$662K	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,360.5	+0.043%	$59K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0156%	4h	4,360.1	+0.032%	$69.4M	$110.1M	100x	as long as short
Bybit XAUUSDT	+0.0181%	4h	4,360.7	+0.046%	$84.1M	$144.1M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0227%	8h	4,361.2	+0.058%	$165.1M	$284.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358	−0.016%	$594K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0357%	4h	4,362.2	+0.080%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361	+0.054%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0518%	4h	4,365	+0.145%	$2.9M	$3.9M	75x	as long as short