Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0177%/8h= +19.3% APRpaid last 24h +0.027%

Price spread now: OKX against Lighter RH−0.013%7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.013%, 7d avg +0.026%

Together, before fees+0.079%+ Points / potential airdropLighter RH: Points live · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.039% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.026%). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.041% in total) that is about 6.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAU	4,359.6	0.0048	pay 0.0006% / 1h	38m 59s	$20.1M	$40.8M	25x
Short	OKX XAU-USDT-SWAP	4,359	0.0225	get 0.0225% / 8h	6h 38m	$164.9M	$284.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter RH. 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 Lighter RHbpFee OKXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $37.07
Price spread: −0.013% → +0.026%: −$3.87
Slippage, 4 orders: −$2.99
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $20.22
Costs to cover: 0.130%
Break-even: 3.2 days

Slippage from Lighter RH: live order book, 5 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 Lighter RH live order book, 5 min ago	1.07 bp	1.1 bp −$1	1.2 bp −$12	18.2 bp −$1,819	doesn't fit
Sell OKX live order book, 5 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.7 bp −$672	13.7 bp −$6,840

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	−0.0325%	1h	4,350.7	−0.203%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0024%	1h	4,354.2	−0.123%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,358.3	−0.030%	$69.7M	$288.0M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.8	+0.004%	$263.2M	$407.4M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,355.5	−0.093%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,362.4	+0.065%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.6	−0.114%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.8	−0.131%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.210%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,357.2	−0.055%	$20.7M	$43.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,357.7	−0.043%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.2	+0.726%	—	$1.0M	25x	as long as short
Lighter RH XAUlong	+0.0048%	1h	4,359.6	long leg	$20.1M	$40.8M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,355.3	−0.098%	$294.1M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.3	−0.121%	$15.0M	$57.7M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,356.4	−0.073%	$5.6M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	−0.089%	$48.3M	$28.4M	—	as long as short
Polymarket Perps GOLD-USD	+0.0061%	1h	4,356.8	−0.064%	$4.3M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.8	−0.109%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,357.4	−0.049%	$372.4M	$321.6M	1000x	as long as short
Binance XAUUSDT	+0.0084%	4h	4,358	−0.036%	$409.6M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,357.2	−0.054%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.176%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.1	−0.126%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.143%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,356.6	−0.068%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.112%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357.2	−0.054%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,357.4	−0.051%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDT	+0.0146%	4h	4,358	−0.036%	$69.3M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,358.1	−0.035%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,358.5	−0.024%	$84.2M	$143.5M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,356.8	−0.064%	$235K	$661K	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0225%	8h	4,359	−0.013%	$164.9M	$284.8M	100x
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355	−0.105%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.120%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0377%	4h	4,361.3	+0.039%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0395% / S −0.0199%	1h	4,358.3	−0.029%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0528%	4h	4,362	+0.056%	$2.9M	$3.9M	75x	as long as short