Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h +0.008%

Price spread now: Binance against Lighter RH−0.020%7-day average −0.027% · 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−$11as in the Price arb table

costs, in and out, $10k−$120.122% of the position

Long on Lighter RH Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 2 days (all we have)+0.015%+$1 · spread now −0.020%, 7d avg −0.027%

Together, before fees+0.080%+ Points / potential airdropLighter RH: Points live · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAU	4,361.2	0.0048	pay 0.0006% / 1h	35m 27s	$20.1M	$40.8M	25x
Short	Binance XAUUSDT	4,360.3	0.0087	get 0.0044% / 4h	2h 35m	$409.8M	$2.10B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter RH. 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 Lighter RHbpFee BinancebpOrdersPrice spread, now −0.020%Rate

Funding earned: $8.26
Price spread: −0.020% → −0.027%: $0.76
Slippage, 4 orders: −$2.23
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$3.21
Costs to cover: 0.122%
Break-even: 9.7 days

Slippage from Lighter RH: live order book, 4 min ago; Binance: live order book, 9 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 RH live order book, 4 min ago	1.09 bp	1.1 bp −$1	1.8 bp −$18	16.3 bp −$1,633	doesn't fit
Sell Binance live order book, 9 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.8 bp −$683	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
Hotstuff GOLD-PERP	0.0000%	1h	4,356.8	−0.100%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.9	+0.017%	$263.2M	$408.5M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,354.2	−0.160%	$4.1M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,361.3	+0.002%	$93K	$9.7M	20x	as long as short
Aster XAUUSD1	+0.0001%	4h	4,361	−0.004%	$70.2M	$292.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,356.8	−0.100%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,356.2	−0.113%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.247%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.4	−0.064%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,393	+0.730%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,359.3	−0.043%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAUlong	+0.0048%	1h	4,361.2	long leg	$20.1M	$40.8M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357.1	−0.094%	$294.2M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,357.4	−0.086%	$14.9M	$57.9M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,358.5	−0.061%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,359	−0.050%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0069%	4h	4,356.5	−0.107%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.6	−0.151%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,359.8	−0.032%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.252%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0086%	4h	4,360	−0.027%	$374.0M	$322.4M	1000x	as long as short
Binance XAUUSDTshort	+0.0087%	4h	4,360.3	−0.020%	$409.8M	$2.10B	100x
Pacifica XAU	+0.0100%	1h	4,356.2	−0.113%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.6	−0.197%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,400.4	+0.899%	$26K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,359.5	−0.038%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.139%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,360.3	−0.021%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	−0.085%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0154%	4h	4,360.7	−0.012%	$69.3M	$109.8M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,360	−0.027%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,356.3	−0.112%	$234K	$661K	25x	as long as short
Bybit XAUUSDT	+0.0193%	4h	4,361.1	−0.001%	$84.2M	$143.7M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0227%	8h	4,361.9	+0.017%	$165.1M	$284.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.9	−0.144%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.083%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0381%	4h	4,361.1	−0.002%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,360.4	−0.017%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0523%	4h	4,362.7	+0.034%	$2.9M	$3.9M	75x	as long as short