Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0186%/8h= +20.3% APRpaid last 24h +0.020%

Price spread now: OKX against Binance+0.034%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days−0.035%−$4 · spread now +0.034%, 7d avg +0.003%

Together, before fees−0.059%−$6 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 0.031% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.003%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.2% 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	Binance XAUUSDT	4,347.4	0.0074	pay 0.0037% / 4h	1h 05m	$410.5M	$2.10B	100x
Short	OKX XAU-USDT-SWAP	4,348.9	0.0260	get 0.0260% / 8h	5h 05m	$165.3M	$283.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.034%Rate

Funding earned: $39.02
Price spread: +0.034% → +0.003%: $3.06
Slippage, 4 orders: −$0.25
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $21.83
Costs to cover: 0.203%
Break-even: 3.1 days

Slippage from Binance: live order book, 9 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 Binance live order book, 9 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.4 bp −$645	doesn't fit
Sell OKX live order book, 4 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.7 bp −$670	13.6 bp −$6,775

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
Gate XAU_USDT	0.0000%	4h	4,349.4	+0.045%	$264.3M	$417.3M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352	+0.104%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.5	−0.091%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.1	−0.007%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.4	−0.092%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.069%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0040%	4h	4,348.3	+0.020%	$70.8M	$334.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.4	+0.022%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,345.6	−0.042%	$4.1M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.3	+0.756%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,347.3	−0.003%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,346.7	−0.016%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.9	−0.081%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.5	−0.067%	$293.8M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344	−0.079%	$15.1M	$56.8M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,350.1	+0.061%	$1.4M	$2.9M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,348.8	+0.031%	$20.1M	$39.9M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	−0.032%	$48.5M	$27.7M	—	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,344	−0.079%	$33K	—	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,347.4	−0.001%	$370.9M	$320.6M	1000x	as long as short
Binance XAUUSDTlong	+0.0074%	4h	4,347.4	long leg	$410.5M	$2.10B	100x
Paradex XAU-USD-PERP	+0.0078%	8h	4,347.6	+0.004%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0085%	4h	4,343.7	−0.086%	$30.2M	$58.5M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,346.8	−0.015%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344	−0.079%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	−0.010%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,346.8	−0.014%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	−0.033%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0187%	1h	4,345.3	−0.049%	$254K	$752K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,347.4	0.000%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0199%	4h	4,350.6	+0.072%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0208%	4h	4,348.8	+0.031%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0216%	4h	4,347.8	+0.008%	$70.2M	$109.3M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0260%	8h	4,348.9	+0.034%	$165.3M	$283.3M	100x
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,344.1	−0.077%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0293%	4h	4,348.1	+0.016%	$15.5M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0403%	1h	4,342.3	−0.118%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0405% / S −0.0220%	1h	4,347.4	0.000%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0588%	4h	4,353.1	+0.130%	$2.9M	$4.2M	75x	as long as short