Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0311%/8h= +34.1% APRpaid last 24h +0.062%

Price spread now: OKX against gTrade (Gains Network)+0.102%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$278as in the Price arb table

costs, in and out, $10k−$2772.772% of the position

Long on gTrade (Gains Network)Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.102%, 7d avg +0.111%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.111%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.070% in total (about 7.4% 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	gTrade (Gains Network) XAU/USD	4,320.4	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	43m 45s	$270K	—	250x
Short	OKX XAU-USDT-SWAP	4,324.8	0.0314	get 0.0314% / 8h	1h 43m	$170.4M	$297.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OKXbpOrdersPrice spread, now +0.102%Rate

Funding earned: $65.35
Price spread: +0.102% → +0.111%: −$0.88
Slippage, 4 orders: −$260.25
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$212.77
Costs to cover: 2.772%
Break-even: 29.8 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 30 min ago; OKX: live order book, 5 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 gTrade (Gains Network) virtual book (oracle venue), 30 min ago	130.01 bp	133.5 bp −$134	196.7 bp −$1,967	1352.9 bp −$135.3K	5907.8 bp −$2.95M
Sell OKX live order book, 5 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.9 bp −$789	13.3 bp −$6,628

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	−0.0115%	1h	4,317.5	−0.067%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,318.6	−0.041%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.4	+0.162%	$92K	$7.9M	20x	as long as short
gTrade (Gains Network) XAU/USDlong	L +0.0002% / S −0.0003%	1h	4,320.4	long leg	$270K	—	250x
Bybit XAUUSDT	+0.0009%	4h	4,325.2	+0.112%	$77.4M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,320.1	−0.007%	$13.2M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.695%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.3	+0.067%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322.3	+0.044%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356.2	+0.829%	—	$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
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.8	+0.009%	$291.5M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.2	−0.027%	$15.0M	$55.7M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,323.8	+0.079%	$20.3M	$30.4M	25x	as long as short
Kalshi KXGOLDPERP	+0.0071%	24h	4,325.3	+0.114%	$3.9M	$43.4M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.7	−0.016%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,323.4	+0.070%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0077%	4h	4,325	+0.107%	$72.5M	$306.3M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0084%	4h	4,319.7	−0.016%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0086%	4h	4,325.8	+0.126%	$282.3M	$412.7M	100x	as long as short
Variational Omni XAU	+0.0095%	4h	4,320.7	+0.008%	$47.3M	$29.2M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,325.9	+0.128%	$19.8M	$38.5M	25x	as long as short
Phoenix GOLD	+0.0100%	1h	4,319.8	−0.014%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.7	−0.017%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,323.5	+0.072%	$362.1M	$327.8M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,317.3	−0.071%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,324.2	+0.087%	$415.7M	$2.14B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323	+0.060%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,316.5	−0.091%	$30.0M	$61.3M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.8	+0.010%	$584K	$134K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,325.7	+0.124%	$4.2M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0190%	1h	4,323.7	+0.077%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0215%	1h	4,323.8	+0.079%	$4.3M	$1.9M	20x	as long as short
HTX XAU-USDT	+0.0220%	4h	4,326.5	+0.142%	$2.8M	$4.9M	75x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,324.5	+0.095%	$68.0M	$119.3M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0314%	8h	4,324.8	+0.102%	$170.4M	$297.5M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0329%	1h	4,324	+0.084%	$192K	$831K	25x	as long as short
BloFin XAU-USDT	+0.0342%	4h	4,323.3	+0.066%	$16.1M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0386%	4h	4,325.9	+0.127%	$2.2M	$966K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,323.8	+0.079%	$253K	—	111x	as long as short