Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0406%/8h= −44.5% APRpaid last 24h +0.003%

Price spread now: OKX against HTX−0.075%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.075%, 7d avg −0.029%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and OKX is 0.046% cheaper against HTX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% 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	HTX XAU-USDT	4,367	0.0603	pay 0.0301% / 4h	3h 27m	$2.9M	$3.9M	75x
Short	OKX XAU-USDT-SWAP	4,363.7	0.0197	get 0.0197% / 8h	7h 27m	$165.5M	$286.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against HTX. 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 HTXbpFee OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$85.27
Price spread: −0.075% → −0.029%: −$4.59
Slippage, 4 orders: −$5.22
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$117.08
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; OKX: live order book, 2 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 HTX live order book, 2 min ago	0.01 bp	7.4 bp −$7	11.9 bp −$119	23.4 bp −$2,338	doesn't fit
Sell OKX live order book, 2 min ago	0.12 bp	5.1 bp −$5	5.2 bp −$52	7.0 bp −$701	13.1 bp −$6,528

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
Aster XAUUSD1	0.0000%	4h	4,362.1	−0.113%	$71.1M	$200.3M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.4	−0.082%	$265.5M	$415.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,362.5	−0.102%	$48.0M	$28.0M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,359.5	−0.171%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,366.4	−0.014%	$93K	$10.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,358.3	−0.200%	$267K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,359.7	−0.166%	$33K	—	25x	as long as short
MEXC XAU_USDT	+0.0014%	4h	4,362.3	−0.106%	$373.3M	$327.2M	1000x	as long as short
Binance XAUUSDT	+0.0018%	4h	4,361.4	−0.128%	$411.8M	$2.15B	100x	as long as short
edgeX XAUUSDC	+0.0026%	4h	4,356.1	−0.248%	$30.3M	$60.3M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.379%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,362.4	−0.105%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,361.7	−0.121%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,396.5	+0.676%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,362.4	−0.105%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,359.4	−0.173%	$294.0M	$52.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,357.3	−0.222%	$14.7M	$57.2M	25x	as long as short
Bitget XAUUSDT	+0.0052%	4h	4,362.3	−0.106%	$69.6M	$113.2M	100x	as long as short
Phoenix GOLD	+0.0055%	1h	4,360.2	−0.155%	$48K	$64K	25x	as long as short
BloFin XAU-USDT	+0.0072%	4h	4,363.5	−0.081%	$15.5M	$4.5M	100x	as long as short
Lighter XAU	+0.0072%	1h	4,360.1	−0.157%	$20.6M	$44.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,362	−0.113%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,361	−0.136%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0096%	1h	4,362.7	−0.097%	$20.2M	$41.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,358.4	−0.196%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,358.4	−0.196%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.6	−0.122%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,354.9	−0.275%	$26K	$22K	20x	as long as short
Extended XAU-USD	+0.0104%	1h	4,358.1	−0.203%	$13.5M	$43.9M	25x	as long as short
Bybit XAUUSDT	+0.0116%	4h	4,363.4	−0.082%	$83.1M	$143.7M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0128%	1h	4,361.4	−0.128%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.7	−0.097%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0197%	8h	4,363.7	−0.075%	$165.5M	$286.2M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0209%	1h	4,360.3	−0.153%	$235K	$656K	25x	as long as short
Bullet GOLD-USD	+0.0213%	1h	4,362.7	−0.097%	$59K	$81K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,359.2	−0.177%	$594K	$151K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,362.4	−0.105%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0484%	4h	4,364.5	−0.057%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDTlong	+0.0603%	4h	4,367	long leg	$2.9M	$3.9M	75x