Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0209%/8h= −22.8% APRpaid last 24h −0.028%

Price spread now: Bybit against OKX+0.009%7-day average +0.011% · 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−$22as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.002%$0 · spread now +0.009%, 7d avg +0.011%

Together, before fees+0.005%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

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 0.1% 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	OKX XAU-USDT-SWAP	4,316.7	0.0271	pay 0.0271% / 8h	20m 01s	$174.6M	$303.6M	100x
Short	Bybit XAUUSDT	4,317.1	0.0062	get 0.0031% / 4h	20m 01s	$77.6M	$154.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$43.79
Price spread: +0.009% → +0.011%: −$0.16
Slippage, 4 orders: −$1.15
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$66.1
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.1 bp −$712	15.7 bp −$7,847
Sell Bybit live order book, 4 min ago	0.01 bp	5.9 bp −$6	8.2 bp −$82	10.9 bp −$1,089	33.8 bp −$16.9K

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
Hotstuff GOLD-PERP	0.0000%	1h	4,312.8	−0.090%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,321.5	+0.112%	$92K	$7.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,312	−0.110%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.781%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,319.3	+0.060%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,315.5	−0.028%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,349.1	+0.751%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,312.6	−0.095%	$290.8M	$51.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,313	−0.085%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,317.2	+0.011%	$72.8M	$272.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDTshort	+0.0062%	4h	4,317.1	+0.009%	$77.6M	$154.6M	150x
Paradex XAU-USD-PERP	+0.0064%	8h	4,316.7	−0.001%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0070%	1h	4,310.3	−0.149%	$25K	$1K	20x	as long as short
Lighter XAU	+0.0072%	1h	4,315	−0.040%	$20.3M	$30.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,312.4	−0.100%	$2.1M	$5.0M	25x	as long as short
Variational Omni XAU	+0.0095%	4h	4,317.1	+0.009%	$47.1M	$29.1M	—	as long as short
Kalshi KXGOLDPERP	+0.0096%	24h	4,318	+0.030%	$3.6M	$45.0M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,315.6	−0.025%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,313.3	−0.079%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.5	−0.027%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,317.4	+0.015%	$19.9M	$39.7M	25x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,316.2	−0.013%	$364.3M	$334.4M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,316.6	−0.003%	$160K	$87	10x	as long as short
Binance XAUUSDT	+0.0106%	4h	4,316.2	−0.011%	$425.9M	$2.16B	100x	as long as short
Gate XAU_USDT	+0.0108%	4h	4,318	+0.030%	$283.4M	$423.0M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0108%	4h	4,315.9	−0.018%	$1.4M	$3.0M	25x	as long as short
Extended XAU-USD	+0.0120%	1h	4,312.2	−0.105%	$13.2M	$36.8M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0121%	1h	4,315.7	−0.023%	$162K	$876K	25x	as long as short
edgeX XAUUSDC	+0.0124%	4h	4,311.9	−0.111%	$30.0M	$60.1M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,316.1	−0.015%	$70.2M	$120.8M	100x	as long as short
Bullet GOLD-USD	+0.0204%	1h	4,317.6	+0.020%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,317.5	+0.019%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,314.8	−0.043%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAPlong	+0.0271%	8h	4,316.7	long leg	$174.6M	$303.6M	100x
BloFin XAU-USDT	+0.0346%	4h	4,317.3	+0.014%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0416%	4h	4,316.9	+0.004%	$2.2M	$976K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0311%	1h	4,316.2	−0.011%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0495%	4h	4,323.7	+0.162%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,316.9	+0.005%	$4.5M	$13.3M	25x	as long as short