Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0157%/8h= −17.2% APRpaid last 24h −0.012%

Price spread now: Bybit against Polymarket Perps+0.007%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.090%+$9 · spread now +0.007%, 7d avg +0.098%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.091% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.098%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,323.4	0.0183	pay 0.0023% / 1h	58m 02s	$4.3M	$2.0M	20x
Short	Bybit XAUUSDT	4,323.7	0.0026	get 0.0013% / 4h	58m 02s	$76.9M	$154.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$32.9
Price spread: +0.007% → +0.098%: −$9.06
Slippage, 4 orders: −$1.66
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$62.62
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 6 min ago; Bybit: live order book, 1 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 Polymarket Perps live order book, 6 min ago	0.12 bp	4.1 bp −$4	4.6 bp −$46	5.4 bp −$542	doesn't fit
Sell Bybit live order book, 1 min ago	0.01 bp	5.5 bp −$6	6.5 bp −$65	10.6 bp −$1,061	33.0 bp −$16.5K

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	−0.0202%	1h	4,317	−0.148%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.6	+0.097%	$92K	$7.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.6	−0.088%	$270K	—	250x	as long as short
Bybit XAUUSDTshort	+0.0026%	4h	4,323.7	+0.007%	$76.9M	$154.1M	150x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.625%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,322.7	−0.017%	$20.3M	$28.8M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.7	+0.030%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,323.2	−0.005%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.6	+0.745%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,319.2	−0.097%	$32K	—	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320	−0.079%	$291.4M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,320.1	−0.076%	$15.0M	$55.7M	25x	as long as short
Aster XAUUSD1	+0.0060%	4h	4,325.1	+0.040%	$72.7M	$273.1M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.9	−0.058%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0074%	8h	4,322.6	−0.018%	$2K	$14K	5x	as long as short
Kalshi KXGOLDPERP	+0.0085%	24h	4,324.8	+0.032%	$3.8M	$44.3M	15x	as long as short
Lighter RH XAU	+0.0088%	1h	4,325.4	+0.046%	$20.0M	$38.5M	25x	as long as short
Variational Omni XAU	+0.0094%	4h	4,321.5	−0.045%	$47.2M	$29.1M	—	as long as short
GRVT XAU_USDT_Perp	+0.0098%	4h	4,321.8	−0.037%	$1.4M	$3.0M	25x	as long as short
Phoenix GOLD	+0.0100%	1h	4,317.3	−0.141%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.5	−0.090%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,323.3	−0.003%	$365.1M	$324.4M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,318.8	−0.107%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,323.5	+0.001%	$424.6M	$2.14B	100x	as long as short
Gate XAU_USDT	+0.0104%	4h	4,324.9	+0.035%	$279.3M	$407.5M	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322.6	−0.018%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,318.4	−0.115%	$30.1M	$60.1M	50x	as long as short
Extended XAU-USD	+0.0136%	1h	4,319.5	−0.090%	$12.9M	$36.1M	25x	as long as short
Bullet GOLD-USD	+0.0166%	1h	4,323.3	−0.003%	$59K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0167%	1h	4,322.3	−0.025%	$163K	$872K	25x	as long as short
Polymarket Perps GOLD-USDlong	+0.0183%	1h	4,323.4	long leg	$4.3M	$2.0M	20x
Bitget XAUUSDT	+0.0208%	4h	4,323.1	−0.006%	$67.6M	$117.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,320.5	−0.067%	$577K	$136K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0294%	8h	4,323.6	+0.005%	$173.3M	$301.1M	100x	as long as short
HTX XAU-USDT	+0.0340%	4h	4,327.9	+0.103%	$3.2M	$5.8M	75x	as long as short
BloFin XAU-USDT	+0.0340%	4h	4,322.8	−0.013%	$16.3M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0363%	4h	4,325.9	+0.059%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,323.6	+0.005%	$252K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,326.5	+0.072%	$4.1M	$12.8M	25x	as long as short