Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.018%

Price spread now: Variational Omni against Lighter+0.070%7-day average +0.045% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.070%, 7d avg +0.045%

Together, before fees−0.062%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.025% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,345.8	0.0032	pay 0.0004% / 1h	37m 36s	$20.8M	$37.8M	25x
Short	Variational Omni XAU	4,348.9	0.0079	get 0.0039% / 4h	37m 36s	$48.4M	$27.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.070%Rate

Funding earned: $9.8
Price spread: +0.070% → +0.045%: $2.53
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.34
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 6 min ago; Variational Omni: RFQ quote, 2 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 Lighter live order book, 6 min ago	0.60 bp	0.6 bp −$1	1.5 bp −$15	7.1 bp −$708	18.0 bp −$9,014
Sell Variational Omni RFQ quote, 2 min ago	1.54 bp	doesn't fit	1.5 bp −$15	4.9 bp −$495	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
RISEx XAU/USDC	0.0000%	1h	4,347.3	+0.032%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,353.4	+0.175%	$93K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.5	−0.008%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0012%	4h	4,348	+0.050%	$267.9M	$411.2M	100x	as long as short
Lighter XAUlong	+0.0032%	1h	4,345.8	long leg	$20.8M	$37.8M	25x
Extended XAU-USD	+0.0032%	1h	4,343.9	−0.045%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.105%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.8	+0.091%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.080%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.3	+0.011%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0044%	24h	4,347.6	+0.040%	$4.1M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.2	+0.837%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,345.2	−0.015%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.8	−0.001%	$293.9M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.4	−0.056%	$15.1M	$56.7M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,347.5	+0.038%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAUshort	+0.0079%	4h	4,348.9	+0.070%	$48.4M	$27.7M	—
Paradex XAU-USD-PERP	+0.0086%	8h	4,348.7	+0.065%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	+0.075%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,347.2	+0.031%	$372.0M	$317.1M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,347.3	+0.032%	$414.2M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.9	−0.021%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.6	−0.006%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,348.5	+0.061%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,345	−0.019%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0142%	1h	4,346.8	+0.022%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,345.8	−0.001%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0156%	1h	4,348.8	+0.068%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,346.1	+0.005%	$593K	$133K	25x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,349.4	+0.081%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0209%	4h	4,352	+0.141%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,348	+0.050%	$243K	$788K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,347.3	+0.033%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,348.4	+0.059%	$85.0M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0283%	8h	4,348.5	+0.061%	$165.6M	$281.7M	100x	as long as short
BloFin XAU-USDT	+0.0343%	4h	4,348.5	+0.061%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0229%	1h	4,349.4	+0.081%	$248K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0475%	1h	4,342.6	−0.076%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0629%	4h	4,353.6	+0.177%	$2.9M	$4.3M	75x	as long as short