Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.002%

Price spread now: Variational Omni against Pacifica+0.118%7-day average +0.090% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days−0.052%−$5 · spread now +0.118%, 7d avg +0.090%

Together, before fees−0.030%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.027% dearer against Pacifica than usual: you sell high and buy low (spread +0.118% now, against its 7-day average of +0.090%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XAU	4,333.4	0.0100	pay 0.0013% / 1h	49m 05s	$1.4M	$1.3M	10x
Short	Variational Omni XAU	4,338.5	0.0079	get 0.0039% / 4h	1h 49m	$47.3M	$29.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now +0.118%Rate

Funding earned: −$4.44
Price spread: +0.118% → +0.090%: $2.75
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.69
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Pacifica live order book, 3 min ago	0.12 bp	4.3 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	1.54 bp	doesn't fit	1.5 bp −$15	5.5 bp −$551	doesn't fit

XAU on 39 exchanges

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	−3.0304%	1h	4,318.3	−0.348%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0061%	1h	4,331.9	−0.034%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,341.9	+0.196%	$92K	$6.0M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,333.5	+0.002%	$2.1M	$5.3M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,334.1	+0.015%	$274K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.393%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,340.8	+0.171%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,336.1	+0.062%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,371.4	+0.877%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0050%	1h	4,336.2	+0.065%	$135K	$707K	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,334.7	+0.030%	$292.6M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,332.9	−0.012%	$15.1M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,336.6	+0.073%	$2K	$13K	5x	as long as short
Polymarket Perps GOLD-USD	+0.0059%	1h	4,336.8	+0.078%	$4.3M	$1.7M	20x	as long as short
Aster XAUUSD1	+0.0062%	4h	4,339.1	+0.132%	$72.5M	$276.0M	20x	as long as short
Variational Omni XAUshort	+0.0079%	4h	4,338.5	+0.118%	$47.3M	$29.2M	—
Lighter XAU	+0.0080%	1h	4,337.2	+0.088%	$20.2M	$30.3M	25x	as long as short
Gate XAU_USDT	+0.0086%	4h	4,339	+0.128%	$299.1M	$443.4M	100x	as long as short
Lighter RH XAU	+0.0088%	1h	4,339.4	+0.138%	$19.7M	$39.9M	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,337.7	+0.099%	$367.1M	$352.0M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,337.8	+0.100%	$443.8M	$2.43B	100x	as long as short
Pacifica XAUlong	+0.0100%	1h	4,333.4	long leg	$1.4M	$1.3M	10x
ApeX Omni XAUUSDT	+0.0100%	1h	4,336.2	+0.064%	$285K	$223K	50x	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,338.3	+0.113%	$1.4M	$3.1M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,336.8	+0.078%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,335.5	+0.048%	$30.3M	$67.5M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,334	+0.014%	$12.5M	$34.7M	25x	as long as short
Bybit XAUUSDT	+0.0123%	4h	4,338.8	+0.125%	$82.5M	$172.8M	150x	as long as short
Phoenix GOLD	+0.0127%	1h	4,335.4	+0.046%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0136%	24h	4,338.9	+0.127%	$3.5M	$51.0M	15x	as long as short
Bullet GOLD-USD	+0.0170%	1h	4,338	+0.107%	$59K	$76K	10x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,337.6	+0.096%	$4.7M	$13.2M	25x	as long as short
Phemex XAUUSDT	+0.0213%	4h	4,340.3	+0.160%	$2.3M	$784K	100x	as long as short
Bitget XAUUSDT	+0.0214%	4h	4,337.8	+0.102%	$72.9M	$139.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0238%	8h	4,338.8	+0.125%	$170.8M	$361.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,334.7	+0.030%	$584K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,337.8	+0.102%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,340.3	+0.160%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1089%	4h	4,344.4	+0.254%	$3.2M	$7.1M	75x	as long as short