XAUT-PERPCrypto · Tokenized assetsTrade Tether Gold (XAUT) Perpetual Futures
Go long or short on Tether Gold with up to 100x leverage. No KYC, no sign-up: connect your wallet and trade 24/7.
- No KYC
- No sign-up
- Self-custody
- Up to 100x leverage
- Mark price
- 3,875.92
- 24h high
- 3,885.00
- 24h low
- 3,879.00
- 24h volume
- 180.1K USDT
Tether Gold (XAUT) is a token issued by TG Commodities, part of the Tether group, that represents ownership of physical gold. Each XAUT corresponds to one troy ounce of gold on a London Good Delivery bar, held in a vault in Switzerland. It was launched in 2020 and is available as a token on Ethereum and other blockchains.
The token gives holders a way to hold gold with the transferability of a cryptocurrency: it can be sent between wallets at any time, held alongside other digital assets and used in some decentralized finance applications. Holders can identify the specific bar backing their tokens, and eligible customers can redeem for physical gold delivered in Switzerland or sell back to the issuer, subject to the issuer's terms and minimums. Holding XAUT means relying on the issuer and its custodian, which is different from holding gold directly.
Because each token is backed by an ounce of gold, XAUT's price closely follows the spot price of gold, with small premiums or discounts possible on different trading venues. Traders use it to gain gold exposure around the clock and within crypto markets.
XAUT's price follows gold, so the forces that move gold move it. These include real interest rates, since gold pays no yield and tends to suffer when inflation-adjusted rates rise; the strength of the US dollar; inflation expectations; purchases by central banks; and demand for safe havens during geopolitical tension or financial stress. Physical demand from jewelry and investment buyers, and flows into gold exchange-traded funds, also matter.
Token-specific factors are usually small: confidence in the issuer and its reserves, and supply and demand on individual trading venues, can create brief gaps between XAUT and the spot gold price.
The XAUT perpetual is a futures contract on the price of Tether Gold with no expiry date. You never own Tether Gold itself: you go long if you expect the price to rise or short if you expect it to fall, and settle profit and loss in USDT.
You choose your leverage, up to 100x. Margin is cross: your whole perpetual balance backs every open position. Positions are valued at a mark price taken from market data, which can differ from the last trade, and an order more than 20% away from the mark price is rejected.
- 1Connect a wallet. Connect MetaMask, or log in with email or Google, and sign the login message.
- 2Deposit USDT. Deposit USDT and move it to your perpetual account to use as margin.
- 3Choose long or short and your leverage. Open the XAUT market, pick a direction and leverage, and place a market or limit order.
- 4Manage the position. Set a take-profit or stop-loss, add margin, or close the position whenever you like.
| Topic | Max Orion | Centralized exchange |
|---|---|---|
| Sign-up | No KYC: connect a wallet and sign a message | Email, password and identity checks |
| Your account | Your wallet address is your account | A username held by the exchange |
| Orders | Every order is signed by your wallet | Orders sent under a logged-in session |
| Hours | Crypto, gold and oil, 24/7 | Commodities often follow market hours |
Leverage multiplies losses as well as gains. If the Tether Gold price moves against your position far enough that your perpetual balance, including unrealized losses, falls below the maintenance margin, positions are closed automatically at the prevailing price and you can lose your whole balance. A stop-loss becomes a market order when triggered and is not guaranteed to fill at its price. Only trade with money you can afford to lose. XAUT is far less volatile than most cryptocurrencies, since it tracks the price of gold, which has historically moved much less than crypto assets.
Frequently asked questions
A XAUT perpetual is a futures contract on the price of Tether Gold with no expiry date. You go long if you expect the price to rise or short if you expect it to fall, post margin in USDT, and keep the position open for as long as your margin covers it.
You can trade Tether Gold perpetuals with up to 100x leverage. The higher the leverage, the smaller the price move against you that liquidates the position.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
Every market settles in USDT, with cross margin: your whole perpetual balance backs all of your open positions, so a profit on one adds margin to the others and a loss on one reduces the margin left for all of them.
A perpetual has no expiry, so a periodic funding payment between longs and shorts keeps its price close to the underlying market. When the perpetual trades above the underlying, longs pay shorts; when it trades below, shorts pay longs.
A maker order, which waits in the order book, pays 0.02% of its value. A taker order, which fills immediately, pays 0.06%.
Leverage multiplies losses as well as gains. If the price moves against your position far enough that your margin no longer covers it, the position is liquidated and the margin is lost. Only trade with money you can afford to lose.
