Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0051%/8h= −5.5% APRpaid last 24h +0.023%

Price spread now: OKX against Coinbase International+0.124%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.385%−$39 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.124%, 7d avg +0.121%

Together, before fees−0.455%−$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.121%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,360.9	0.0208	pay 0.0026% / 1h	5m 01s	$2.0M	$5.1M	25x
Short	OKX XAU-USDT-SWAP	4,366.3	0.0157	get 0.0157% / 8h	1h 05m	$158.3M	$270.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$10.61
Price spread: +0.124% → +0.121%: $0.24
Slippage, 4 orders: −$3.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.55
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Coinbase International: 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 Coinbase International live order book, 4 min ago	0.12 bp	7.6 bp −$8	8.4 bp −$84	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	5.9 bp −$593	11.4 bp −$5,715

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
Kraken Futures PF_XAUUSD	−0.0174%	1h	4,362.6	+0.038%	$602K	$139K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,365.7	+0.109%	$71.5M	$233.7M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.1	+0.097%	$409.7M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366.3	+0.124%	$82.9M	$141.7M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.9	+0.092%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.2	+0.121%	$269.3M	$412.1M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.1	+0.095%	$377.1M	$354.6M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,365.5	+0.104%	$67.4M	$110.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,364.1	+0.074%	$48.5M	$31.2M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,362.8	+0.043%	$1.4M	$3.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,363.3	+0.055%	$4.0M	$34.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,369.2	+0.190%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362.2	+0.029%	$268K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,363.4	+0.057%	$5.6M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0011%	4h	4,358.9	−0.045%	$30.3M	$58.0M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0017%	1h	4,360.9	0.000%	$293.4M	$52.7M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,365	+0.095%	$20.9M	$44.7M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.3	+0.147%	$20.3M	$42.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,362.3	+0.032%	$13.1M	$46.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.240%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.6	+0.062%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.9	+0.894%	—	$1.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,363	+0.048%	$4.3M	$1.7M	20x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,364.7	+0.088%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,361.5	+0.013%	$14.4M	$55.6M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,360.5	−0.009%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.2	+0.076%	$162K	$87	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0094%	1h	4,364.1	+0.073%	$235K	$734K	25x	as long as short
Bullet GOLD-USD	+0.0098%	1h	4,365.1	+0.096%	$60K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,361.9	+0.023%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.6	+0.017%	$274K	$199K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,357.4	−0.080%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,361.7	+0.018%	$48K	$65K	25x	as long as short
HTX XAU-USDT	+0.0109%	4h	4,368.1	+0.166%	$2.8M	$3.8M	75x	as long as short
OKX XAU-USDT-SWAPshort	+0.0157%	8h	4,366.3	+0.124%	$158.3M	$270.0M	100x
Coinbase International GOLD-PERP-INTXlong	+0.0208%	1h	4,360.9	long leg	$2.0M	$5.1M	25x
BloFin XAU-USDT	+0.0240%	4h	4,365	+0.095%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0275%	4h	4,365.1	+0.096%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,365	+0.095%	$252K	—	111x	as long as short