Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0227%/8h= +24.8% APRpaid last 24h +0.050%

Price spread now: OKX against Injective−0.056%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. OKX is 0.056% cheaper against Injective than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAU/USDC PERP	4,350.4	0.0033	pay 0.0004% / 1h	5m 02s	$619	$54	52x
Short	OKX XAU-USDT-SWAP	4,348	0.0260	get 0.0260% / 8h	5h 05m	$165.3M	$283.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now −0.056%Rate

Funding earned: $47.62
Price spread: −0.056% → 0.000%: −$5.56
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $32.04
Costs to cover: 0.100%
Break-even: 2.3 days

Slippage unknown: Injective: no order-book sample; OKX: live order book, 4 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.7 bp −$670	13.6 bp −$6,775

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate XAU_USDT	0.0000%	4h	4,348.3	−0.048%	$264.5M	$417.3M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352	+0.036%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.5	−0.160%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.1	−0.075%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.1	−0.192%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERPlong	+0.0033%	1h	4,350.4	long leg	$619	$54	52x
Aster XAUUSD1	+0.0040%	4h	4,347	−0.080%	$70.8M	$334.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.4	−0.046%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,344.4	−0.138%	$4.1M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.3	+0.687%	—	$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
QFEX GOLD-USD	+0.0046%	1h	4,347.3	−0.072%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,345.1	−0.122%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343	−0.171%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.5	−0.159%	$293.7M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344	−0.147%	$15.1M	$56.8M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,350.1	−0.007%	$1.4M	$2.9M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,347.2	−0.073%	$20.1M	$39.9M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	−0.101%	$48.5M	$27.7M	—	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,344	−0.148%	$33K	—	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,346.3	−0.096%	$370.8M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0074%	4h	4,346.2	−0.096%	$410.3M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,347.6	−0.065%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0085%	4h	4,343.7	−0.155%	$30.2M	$58.5M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,346.8	−0.084%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344	−0.148%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	−0.079%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,346.8	−0.083%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	−0.102%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0187%	1h	4,345.3	−0.118%	$254K	$752K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,347.4	−0.069%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0201%	4h	4,349.9	−0.012%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0208%	4h	4,347.6	−0.065%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0216%	4h	4,346.4	−0.094%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0260%	8h	4,348	−0.056%	$165.3M	$283.3M	100x
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,344.7	−0.131%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,347.2	−0.074%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0403%	1h	4,342.3	−0.187%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0405% / S −0.0220%	1h	4,347.4	−0.069%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0590%	4h	4,352.4	+0.046%	$2.9M	$4.2M	75x	as long as short