Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h +0.025%

Price spread now: Variational Omni against tradeXYZ+0.053%7-day average +0.084% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days−0.021%−$2 · spread now +0.053%, 7d avg +0.084%

Together, before fees−0.010%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.032% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.053% now, against its 7-day average of +0.084%). If the spread goes back, that is −$3 on $10k: about 3.5 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.011% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:GOLD	4,344.4	0.0050	pay 0.0006% / 1h	33m 26s	$293.7M	$48.7M	25x
Short	Variational Omni XAU	4,346.7	0.0080	get 0.0040% / 4h	33m 26s	$48.5M	$27.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.053%Rate

Funding earned: $6.38
Price spread: +0.053% → +0.084%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.78
Costs to cover: 0.180%
Break-even: 23.2 days

Slippage unknown: tradeXYZ: live order book, 7 min ago; Variational Omni: RFQ quote, 1 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 tradeXYZ live order book, 7 min ago	0.12 bp	9.1 bp −$9	9.5 bp −$95	11.1 bp −$1,110	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	1.55 bp	doesn't fit	1.8 bp −$18	4.5 bp −$447	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
RISEx XAU/USDC	0.0000%	1h	4,347.6	+0.073%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.3	+0.158%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.8	−0.015%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,348.7	+0.099%	$267.8M	$412.2M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,346.4	+0.046%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.8	−0.013%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.139%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,348.6	+0.097%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.3	+0.067%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,347.4	+0.069%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0045%	24h	4,345.7	+0.030%	$4.2M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.8	+0.838%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.1	−0.030%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLDlong	+0.0050%	1h	4,344.4	long leg	$293.7M	$48.7M	25x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.4	0.000%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0064%	4h	4,348.4	+0.091%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAUshort	+0.0080%	4h	4,346.7	+0.053%	$48.5M	$27.8M	—
Paradex XAU-USD-PERP	+0.0085%	8h	4,347.8	+0.079%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,346.6	+0.052%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,347.9	+0.079%	$373.2M	$317.6M	1000x	as long as short
Binance XAUUSDT	+0.0093%	4h	4,347.8	+0.079%	$414.0M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.8	−0.014%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.5	−0.022%	$274K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347	+0.060%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,341.5	−0.068%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	+0.067%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,344.4	0.000%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0151%	1h	4,347.2	+0.064%	$4.3M	$1.9M	20x	as long as short
Bluefin GOLD-PERP	+0.0171%	1h	4,340.5	−0.091%	$25K	$14K	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,344	−0.009%	$592K	$132K	25x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,347.8	+0.079%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,345.4	+0.023%	$243K	$789K	25x	as long as short
Phemex XAUUSDT	+0.0217%	4h	4,349.8	+0.125%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,348.1	+0.084%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,348.9	+0.102%	$85.0M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0286%	8h	4,348.9	+0.104%	$165.6M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0344%	4h	4,346.1	+0.040%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0231%	1h	4,347.8	+0.079%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0625%	4h	4,351.6	+0.166%	$2.9M	$4.3M	75x	as long as short