Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.007%

Price spread now: Bitget against OKX−0.025%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$8 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.025%, 7d avg −0.002%

Together, before fees+0.103%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.022% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.075%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,337.5	0.0245	pay 0.0245% / 8h	7h 01m	$171.2M	$354.1M	100x
Short	Bitget XAUUSDT	4,336.4	0.0198	get 0.0099% / 4h	3h 01m	$72.4M	$132.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$9.87
Price spread: −0.025% → −0.002%: −$2.25
Slippage, 4 orders: −$0.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$34.51
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bitget: 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 OKX live order book, 2 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.3 bp −$626	15.8 bp −$7,880
Sell Bitget live order book, 2 min ago	0.01 bp	6.2 bp −$6	7.2 bp −$72	11.7 bp −$1,172	doesn't fit

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
SunX XAU-USDT	0.0000%	4h	4,340.5	+0.070%	$92K	$6.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,333.5	−0.092%	$275K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.298%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,332.8	−0.108%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,370.5	+0.761%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,336.1	−0.032%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,333.8	−0.085%	$292.6M	$55.3M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,337.3	−0.005%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,333.3	−0.098%	$15.1M	$57.3M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,334	−0.081%	$2.0M	$5.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0059%	8h	4,336.8	−0.017%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0061%	4h	4,337.8	+0.006%	$74.5M	$272.9M	20x	as long as short
Lighter XAU	+0.0080%	1h	4,336.3	−0.027%	$20.2M	$30.7M	25x	as long as short
Phoenix GOLD	+0.0095%	1h	4,331.9	−0.129%	$43K	$86K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,338.9	+0.032%	$19.9M	$41.4M	25x	as long as short
Extended XAU-USD	+0.0096%	1h	4,333.7	−0.087%	$12.7M	$36.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,335.4	−0.048%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0099%	4h	4,336.1	−0.032%	$47.2M	$30.1M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,334.1	−0.078%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,334.7	−0.065%	$285K	$232K	50x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,338.9	+0.031%	$299.4M	$447.0M	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,336.4	−0.025%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,337.2	−0.006%	$352.1M	$359.1M	1000x	as long as short
Binance XAUUSDT	+0.0118%	4h	4,336.4	−0.024%	$438.1M	$2.34B	100x	as long as short
Kalshi KXGOLDPERP	+0.0119%	24h	4,339.2	+0.039%	$3.5M	$48.4M	15x	as long as short
Bybit XAUUSDT	+0.0122%	4h	4,337.4	−0.001%	$81.4M	$167.7M	150x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,336.2	−0.031%	$4.6M	$13.6M	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,331.6	−0.137%	$30.3M	$64.7M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0142%	1h	4,335.7	−0.041%	$134K	$779K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0154%	4h	4,335.1	−0.055%	$1.4M	$3.0M	25x	as long as short
Bullet GOLD-USD	+0.0180%	1h	4,337.1	−0.010%	$59K	$77K	10x	as long as short
Phemex XAUUSDT	+0.0182%	4h	4,337.7	+0.005%	$2.2M	$961K	100x	as long as short
Bitget XAUUSDTshort	+0.0198%	4h	4,336.4	−0.025%	$72.4M	$132.9M	100x
OKX XAU-USDT-SWAPlong	+0.0245%	8h	4,337.5	long leg	$171.2M	$354.1M	100x
Kraken Futures PF_XAUUSD	+0.0326%	1h	4,334.8	−0.061%	$583K	$150K	25x	as long as short
BloFin XAU-USDT	+0.0360%	4h	4,337	−0.011%	$16.2M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0313%	1h	4,337	−0.012%	$256K	—	111x	as long as short
HTX XAU-USDT	+0.1103%	4h	4,344.8	+0.169%	$3.2M	$6.9M	75x	as long as short
Bluefin GOLD-PERP	+0.1395%	1h	4,331.4	−0.140%	$25K	$1K	20x	as long as short