Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.028%

Price spread now: OKX against Bybit+0.002%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.002%, 7d avg −0.011%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,358.6	0.0183	pay 0.0092% / 4h	2h 40m	$84.2M	$143.5M	150x
Short	OKX XAU-USDT-SWAP	4,358.7	0.0224	get 0.0224% / 8h	6h 40m	$164.9M	$284.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $8.69
Price spread: +0.002% → −0.011%: $1.37
Slippage, 4 orders: −$0.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$11.29
Costs to cover: 0.213%
Break-even: 16.1 days

Slippage from Bybit: live order book, 4 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 Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	6.3 bp −$63	10.3 bp −$1,034	31.5 bp −$15.7K
Sell OKX live order book, 4 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.7 bp −$672	13.7 bp −$6,840

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	−0.0325%	1h	4,349.7	−0.205%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0024%	1h	4,354.2	−0.101%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,358.2	−0.009%	$69.7M	$283.5M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,358.5	−0.001%	$263.3M	$407.1M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,355.1	−0.080%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,361.9	+0.075%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.4	−0.120%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.4	−0.119%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.188%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.1	−0.057%	$3.8M	$4.7M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,390.7	+0.736%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,356.5	−0.049%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,358.7	+0.002%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.6	−0.092%	$293.9M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355.3	−0.076%	$15.0M	$57.6M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,357.8	−0.018%	$5.6M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	−0.066%	$48.3M	$28.4M	—	as long as short
Polymarket Perps GOLD-USD	+0.0062%	1h	4,356.3	−0.053%	$4.3M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.8	−0.087%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,357.1	−0.034%	$372.4M	$321.5M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,357.4	−0.027%	$410.4M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,357.4	−0.028%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.153%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.7	−0.112%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.121%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,356.7	−0.043%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.089%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357.9	−0.017%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,358.7	+0.001%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDT	+0.0146%	4h	4,357.5	−0.025%	$69.4M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,357.3	−0.030%	$59K	$83K	10x	as long as short
Bybit XAUUSDTlong	+0.0183%	4h	4,358.6	long leg	$84.2M	$143.5M	150x
Deribit GOLD_USDC-PERPETUAL	+0.0209%	1h	4,355.7	−0.067%	$235K	$661K	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0224%	8h	4,358.7	+0.002%	$164.9M	$284.9M	100x
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.4	−0.096%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.142%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0384%	4h	4,360.9	+0.053%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0395% / S −0.0199%	1h	4,357	−0.037%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,362	+0.078%	$2.9M	$3.9M	75x	as long as short