Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0494%/8h= +54.1% APRpaid last 24h +0.024%

Price spread now: HTX against Lighter RH+0.051%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$180.181% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.051%, 7d avg +0.033%

Together, before fees+0.014%+ Points / potential airdropLighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.043% in total (about 2.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAU	4,365.8	0.0064	pay 0.0008% / 1h	58m 44s	$20.2M	$40.5M	25x
Short	HTX XAU-USDT	4,368	0.0558	get 0.0279% / 4h	2h 58m	$2.9M	$3.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.051%Rate

Funding earned: $103.68
Price spread: +0.051% → +0.033%: $1.77
Slippage, 4 orders: −$6.07
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $87.39
Costs to cover: 0.181%
Break-even: 1.1 days

Slippage from Lighter RH: live order book, 5 min ago; HTX: 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 RH live order book, 5 min ago	0.65 bp	0.7 bp −$1	2.0 bp −$20	15.6 bp −$1,561	doesn't fit
Sell HTX live order book, 5 min ago	0.01 bp	9.0 bp −$9	12.9 bp −$129	25.0 bp −$2,504	37.6 bp −$18.8K

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	−0.0167%	1h	4,355.4	−0.237%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,362.1	−0.083%	$69.8M	$243.5M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.6	−0.049%	$264.8M	$400.3M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360	−0.132%	$4.0M	$36.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.4	−0.009%	$93K	$10.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.4	−0.191%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,358.3	−0.171%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.351%	$619	$54	52x	as long as short
Variational Omni XAU	+0.0040%	4h	4,362	−0.086%	$48.4M	$28.5M	—	as long as short
StandX XAU-USD	+0.0040%	1h	4,363	−0.063%	$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
QFEX GOLD-USD	+0.0045%	1h	4,362.7	−0.070%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,396.2	+0.697%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,359.9	−0.134%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.3	−0.125%	$294.3M	$51.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,361	−0.109%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.8	−0.159%	$14.8M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	−0.141%	$48K	$64K	25x	as long as short
Lighter XAU	+0.0056%	1h	4,363.4	−0.055%	$20.6M	$43.2M	25x	as long as short
MEXC XAU_USDT	+0.0058%	4h	4,362.6	−0.071%	$372.4M	$318.3M	1000x	as long as short
Binance XAUUSDT	+0.0062%	4h	4,364.5	−0.028%	$411.8M	$2.13B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.211%	$30.3M	$60.4M	50x	as long as short
Lighter RH XAUlong	+0.0064%	1h	4,365.8	long leg	$20.2M	$40.5M	25x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,358.6	−0.164%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.3	−0.055%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,360.8	−0.112%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.1	−0.129%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.2	−0.151%	$275K	$204K	50x	as long as short
Bitget XAUUSDT	+0.0112%	4h	4,364	−0.041%	$69.5M	$111.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,359.8	−0.136%	$235K	$659K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,362.9	−0.066%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.3	−0.080%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,362.6	−0.073%	$59K	$82K	10x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,364.9	−0.019%	$83.6M	$144.7M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0216%	8h	4,364.9	−0.019%	$164.3M	$286.9M	100x	as long as short
BloFin XAU-USDT	+0.0241%	4h	4,362.7	−0.069%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358.7	−0.161%	$594K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0291%	4h	4,364.2	−0.037%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361.5	−0.098%	$254K	—	111x	as long as short
HTX XAU-USDTshort	+0.0558%	4h	4,368	+0.051%	$2.9M	$3.9M	75x