Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0188%/8h= +20.5% APRpaid last 24h +0.032%

Price spread now: OKX against ApeX Omni+0.110%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.110%, 7d avg +0.062%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and OKX is 0.048% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.062%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.049% in total (about -2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,318.5	0.0100	pay 0.0013% / 1h	49m 35s	$272K	$208K	50x
Short	OKX XAU-USDT-SWAP	4,323.2	0.0288	get 0.0288% / 8h	49m 35s	$173.4M	$300.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now +0.110%Rate

Funding earned: $39.4
Price spread: +0.110% → +0.062%: $4.78
Slippage, 4 orders: −$21.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $2.79
Costs to cover: 0.414%
Break-even: 6.5 days

Slippage from ApeX Omni: live order book, 53 min ago; OKX: live order book, 4 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 ApeX Omni live order book, 53 min ago	4.45 bp	13.8 bp −$14	26.9 bp −$269	36.7 bp −$3,665	doesn't fit
Sell OKX live order book, 4 min ago	0.12 bp	5.1 bp −$5	5.6 bp −$56	7.6 bp −$759	12.6 bp −$6,303

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	−0.0051%	1h	4,315.1	−0.077%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.8	+0.194%	$92K	$7.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.7	+0.005%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0027%	4h	4,323.4	+0.115%	$76.9M	$153.0M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.740%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.1	+0.131%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,321.6	+0.073%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.5	+0.835%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.4	+0.045%	$291.7M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319	+0.012%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0061%	4h	4,324.4	+0.138%	$72.7M	$272.7M	20x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,320.3	+0.043%	$32K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,323.2	+0.111%	$2K	$14K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,322.4	+0.090%	$20.3M	$28.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,318.2	−0.006%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0087%	24h	4,323.7	+0.122%	$3.8M	$44.4M	15x	as long as short
Variational Omni XAU	+0.0092%	4h	4,321	+0.059%	$47.3M	$29.0M	—	as long as short
Phoenix GOLD	+0.0096%	1h	4,320.8	+0.054%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,322.7	+0.099%	$364.6M	$325.3M	1000x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,322.4	+0.092%	$425.3M	$2.14B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.9	+0.033%	$1.4M	$1.2M	10x	as long as short
Gate XAU_USDT	+0.0100%	4h	4,325.9	+0.172%	$279.5M	$410.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,323.9	+0.127%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,318.5	long leg	$272K	$208K	50x
Aevo XAU-PERP	+0.0104%	1h	4,322	+0.083%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0106%	4h	4,317.6	−0.021%	$30.0M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0136%	1h	4,324	+0.128%	$20.0M	$38.7M	25x	as long as short
Extended XAU-USD	+0.0160%	1h	4,320.1	+0.038%	$13.1M	$36.8M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0190%	1h	4,322.5	+0.094%	$163K	$864K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,322.3	+0.088%	$70.2M	$119.1M	100x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,322.8	+0.101%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,322.6	+0.096%	$4.3M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,320.1	+0.037%	$577K	$136K	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0288%	8h	4,323.2	+0.110%	$173.4M	$300.5M	100x
BloFin XAU-USDT	+0.0339%	4h	4,322.3	+0.090%	$16.4M	$4.6M	100x	as long as short
HTX XAU-USDT	+0.0366%	4h	4,327.4	+0.206%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDT	+0.0385%	4h	4,325.9	+0.173%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,322.8	+0.100%	$252K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,323.5	+0.117%	$4.4M	$13.3M	25x	as long as short