Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.002%

Price spread now: Bybit against RISEx+0.025%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$1 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.025%, 7d avg +0.020%

Together, before fees−0.028%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XAU/USDC	4,334.8	0.0205	pay 0.0026% / 1h	43m 54s	$4.7M	$13.2M	25x
Short	Bybit XAUUSDT	4,335.9	0.0121	get 0.0060% / 4h	1h 43m	$82.8M	$172.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$17.67
Price spread: +0.025% → +0.020%: $0.51
Slippage, 4 orders: −$2.9
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.06
Costs to cover: 0.199%
Break-even: never at this rate

Slippage from RISEx: live order book, 8 min ago; Bybit: live order book, 3 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 RISEx live order book, 8 min ago	1.02 bp	4.0 bp −$4	4.6 bp −$46	36.5 bp −$3,645	doesn't fit
Sell Bybit live order book, 3 min ago	0.01 bp	5.5 bp −$6	6.2 bp −$62	10.0 bp −$1,003	34.2 bp −$17.1K

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	−3.2000%	1h	4,318.3	−0.381%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,338.7	+0.089%	$92K	$5.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,330.5	−0.100%	$2.1M	$5.2M	25x	as long as short
Bluefin GOLD-PERP	+0.0002%	1h	4,328.9	−0.138%	$25K	$1K	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,331.8	−0.070%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.360%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,335.5	+0.016%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,333.7	−0.026%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,368.2	+0.770%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,332.4	−0.056%	$292.5M	$51.6M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.5	−0.101%	$15.1M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,334.2	−0.014%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,336.1	+0.029%	$72.4M	$276.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0073%	1h	4,334.5	−0.007%	$135K	$707K	25x	as long as short
Variational Omni XAU	+0.0074%	4h	4,333.5	−0.029%	$47.3M	$29.2M	—	as long as short
Polymarket Perps GOLD-USD	+0.0074%	1h	4,334.2	−0.014%	$4.3M	$1.7M	20x	as long as short
Gate XAU_USDT	+0.0078%	4h	4,336.9	+0.049%	$298.2M	$444.9M	100x	as long as short
Lighter XAU	+0.0080%	1h	4,335.1	+0.005%	$20.2M	$30.4M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,337.3	+0.058%	$19.7M	$40.0M	25x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,334.4	−0.009%	$367.0M	$353.2M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0094%	4h	4,336.8	+0.045%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0094%	4h	4,334.4	−0.009%	$442.6M	$2.43B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,331	−0.088%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,334.5	−0.007%	$284K	$223K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,334.3	−0.013%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,333.9	−0.022%	$30.3M	$67.7M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,331	−0.089%	$12.5M	$34.6M	25x	as long as short
Bybit XAUUSDTshort	+0.0121%	4h	4,335.9	+0.025%	$82.8M	$172.2M	150x
Phoenix GOLD	+0.0127%	1h	4,334.2	−0.014%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0137%	24h	4,336.4	+0.036%	$3.5M	$51.1M	15x	as long as short
Bullet GOLD-USD	+0.0165%	1h	4,335.2	+0.008%	$59K	$76K	10x	as long as short
RISEx XAU/USDClong	+0.0205%	1h	4,334.8	long leg	$4.7M	$13.2M	25x
Bitget XAUUSDT	+0.0212%	4h	4,335	+0.003%	$72.8M	$139.5M	100x	as long as short
Phemex XAUUSDT	+0.0227%	4h	4,338.4	+0.082%	$2.3M	$772K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0237%	8h	4,336.1	+0.029%	$170.7M	$361.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,332.3	−0.059%	$583K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0336%	4h	4,334.8	0.000%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,334.8	0.000%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1076%	4h	4,341.1	+0.145%	$3.2M	$7.1M	75x	as long as short