Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h +0.013%

Price spread now: Bullet against Variational Omni+0.025%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bullet is 0.025% dearer against Variational Omni than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,332	0.0111	pay 0.0056% / 4h	2h 25m	$48.3M	$27.4M	—
Short	Bullet GOLD-USD	4,333	0.0160	get 0.0020% / 1h	25m 53s	$59K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Variational Omni. 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 Variational OmnibpFee BulletbpOrdersPrice spread, now +0.025%Rate

Funding earned: $10.25
Price spread: +0.025% → 0.000%: $2.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: $4.72
Costs to cover: 0.080%
Break-even: 3.8 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bullet: no order-book sample. 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 Variational Omni RFQ quote, 3 min ago	1.55 bp	doesn't fit	1.9 bp −$19	7.2 bp −$722	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff GOLD-PERP	−0.0056%	1h	4,328.7	−0.075%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0002%	1h	4,325.7	−0.145%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,336.7	+0.108%	$92K	$8.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,328.7	−0.075%	$271K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,329.8	−0.051%	$13.2M	$37.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.426%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,329.8	−0.050%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,331.2	−0.018%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.5	+0.774%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,331.6	−0.009%	$20.7M	$31.0M	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	4,329.5	−0.057%	$292.5M	$50.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.7	−0.053%	$15.0M	$56.7M	25x	as long as short
Bybit XAUUSDT	+0.0051%	4h	4,334.6	+0.062%	$78.7M	$154.9M	150x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,333.2	+0.029%	$3.7M	$12.2M	25x	as long as short
Kalshi KXGOLDPERP	+0.0058%	24h	4,332.8	+0.019%	$4.0M	$40.9M	15x	as long as short
Gate XAU_USDT	+0.0066%	4h	4,334.8	+0.066%	$273.1M	$407.0M	100x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,332.5	+0.012%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,329.8	−0.050%	$2.1M	$4.7M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,333.9	+0.045%	$19.9M	$38.7M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,328.5	−0.081%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,328.1	−0.089%	$275K	$204K	50x	as long as short
Aster XAUUSD1	+0.0109%	4h	4,336.1	+0.095%	$71.6M	$332.2M	20x	as long as short
Variational Omni XAUlong	+0.0111%	4h	4,332	long leg	$48.3M	$27.4M	—
Aevo XAU-PERP	+0.0112%	1h	4,332.2	+0.005%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,333.3	+0.030%	$363.7M	$324.3M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,335	+0.069%	$414.4M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0122%	4h	4,329.6	−0.056%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,327.2	−0.110%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0130%	4h	4,331.5	−0.010%	$30.1M	$59.0M	50x	as long as short
Bullet GOLD-USDshort	+0.0160%	1h	4,333	+0.025%	$59K	$82K	10x
Polymarket Perps GOLD-USD	+0.0171%	1h	4,333	+0.024%	$4.2M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,329.8	−0.050%	$590K	$130K	25x	as long as short
HTX XAU-USDT	+0.0257%	4h	4,336.4	+0.102%	$2.8M	$4.8M	75x	as long as short
Bitget XAUUSDT	+0.0278%	4h	4,334	+0.048%	$73.6M	$113.8M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0281%	1h	4,331.8	−0.004%	$199K	$825K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0338%	8h	4,334.3	+0.054%	$170.2M	$292.3M	100x	as long as short
BloFin XAU-USDT	+0.0362%	4h	4,330.9	−0.024%	$16.1M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0399%	4h	4,336.8	+0.111%	$2.2M	$960K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0451% / S −0.0288%	1h	4,332.9	+0.022%	$250K	—	111x	as long as short