Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0234%/8h= +25.6% APRpaid last 24h +0.035%

Price spread now: OKX against GRVT+0.050%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on GRVT Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.050%, 7d avg +0.002%

Together, before fees−0.058%+ Points / potential airdropGRVT: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and OKX is 0.048% dearer against GRVT than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.002%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.019% in total (about -1.0% 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	GRVT XAU_USDT_Perp	4,321.1	0.0082	pay 0.0041% / 4h	1h 49m	$1.4M	$3.0M	25x
Short	OKX XAU-USDT-SWAP	4,323.3	0.0316	get 0.0316% / 8h	1h 49m	$170.3M	$296.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against GRVT. 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 GRVTbpFee OKXbpOrdersPrice spread, now +0.050%Rate

Funding earned: $49.17
Price spread: +0.050% → +0.002%: $4.82
Slippage, 4 orders: −$1.09
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: $33.9
Costs to cover: 0.201%
Break-even: 2.2 days

Slippage from GRVT: live order book, 4 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 GRVT live order book, 4 min ago	0.01 bp	4.9 bp −$5	5.8 bp −$58	3937.7 bp −$393.8K	doesn't fit
Sell OKX live order book, 5 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.1 bp −$712	12.3 bp −$6,157

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	−0.0073%	1h	4,315.5	−0.130%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0008%	1h	4,318.9	−0.051%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,325.2	+0.094%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.5	−0.062%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0010%	4h	4,323.4	+0.053%	$77.4M	$157.4M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,319	−0.050%	$13.2M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.678%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.3	+0.050%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,320.8	−0.007%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.7	+0.777%	—	$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	4,318.7	−0.056%	$291.4M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,317	−0.097%	$15.0M	$55.8M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,321.9	+0.017%	$20.3M	$30.2M	25x	as long as short
Kalshi KXGOLDPERP	+0.0069%	24h	4,322.6	+0.034%	$3.9M	$43.0M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,317.9	−0.075%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,322.8	+0.038%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,324.3	+0.074%	$72.4M	$311.2M	20x	as long as short
GRVT XAU_USDT_Perplong	+0.0082%	4h	4,321.1	long leg	$1.4M	$3.0M	25x
Gate XAU_USDT	+0.0084%	4h	4,324.3	+0.074%	$278.5M	$409.2M	100x	as long as short
Variational Omni XAU	+0.0093%	4h	4,320.2	−0.021%	$47.3M	$29.3M	—	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.2	−0.021%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.2	−0.046%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,322.2	+0.024%	$360.1M	$325.9M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.8	−0.031%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,322.1	+0.022%	$415.2M	$2.14B	100x	as long as short
Lighter RH XAU	+0.0104%	1h	4,324.3	+0.074%	$19.8M	$38.4M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.7	+0.013%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,319.3	−0.043%	$30.1M	$60.8M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,318.5	−0.060%	$588K	$131K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,324.6	+0.081%	$4.2M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,322.2	+0.025%	$59K	$81K	10x	as long as short
HTX XAU-USDT	+0.0215%	4h	4,325.4	+0.100%	$2.8M	$5.0M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,322.6	+0.034%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,322.6	+0.034%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0283%	1h	4,320.3	−0.019%	$193K	$830K	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0316%	8h	4,323.3	+0.050%	$170.3M	$296.6M	100x
BloFin XAU-USDT	+0.0340%	4h	4,322.3	+0.026%	$16.1M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0409%	4h	4,324.3	+0.074%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,322.2	+0.025%	$252K	—	111x	as long as short