Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0189%/8h= −20.7% APRpaid last 24h −0.044%

Price spread now: Gate against OKX−0.015%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.015%, 7d avg +0.020%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.035% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.095% in total (about -4.9% 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	4,365.1	0.0189	pay 0.0189% / 8h	7h 33m	$165.6M	$286.5M	100x
Short	Gate XAU_USDT	4,364.4	0	get 0.0000% / 4h	3h 33m	$265.5M	$414.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.015%Rate

Funding earned: −$39.75
Price spread: −0.015% → +0.020%: −$3.54
Slippage, 4 orders: −$0.27
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.57
Costs to cover: 0.253%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Gate: 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 OKX live order book, 5 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.5 bp −$653	14.4 bp −$7,220
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	8.9 bp −$89	14.5 bp −$1,451	22.8 bp −$11.4K

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	4,363.6	−0.035%	$71.1M	$201.0M	20x	as long as short
Gate XAU_USDTshort	0.0000%	4h	4,364.4	−0.015%	$265.5M	$414.1M	100x
Variational Omni XAU	0.0000%	4h	4,365.3	+0.005%	$48.6M	$27.5M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,361.7	−0.078%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,369.6	+0.102%	$93K	$10.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,360.9	−0.096%	$267K	—	250x	as long as short
MEXC XAU_USDT	+0.0004%	4h	4,363.5	−0.037%	$373.5M	$325.1M	1000x	as long as short
edgeX XAUUSDC	+0.0004%	4h	4,358.8	−0.144%	$30.3M	$60.3M	50x	as long as short
Binance XAUUSDT	+0.0007%	4h	4,363.2	−0.044%	$410.6M	$2.15B	100x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.336%	$619	$54	52x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	+0.0034%	4h	4,363.7	−0.033%	$69.6M	$113.4M	100x	as long as short
StandX XAU-USD	+0.0040%	1h	4,365.8	+0.016%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,364.8	−0.007%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.2	+0.781%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,365.4	+0.008%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.8	−0.099%	$294.0M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.4	−0.107%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,362.9	−0.050%	$48K	$64K	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,362	−0.071%	$33K	—	25x	as long as short
Lighter XAU	+0.0072%	1h	4,362.8	−0.053%	$20.6M	$43.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,365	−0.002%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.3	−0.018%	$162K	$87	10x	as long as short
BloFin XAU-USDT	+0.0082%	4h	4,365.4	+0.006%	$15.6M	$4.6M	100x	as long as short
Bybit XAUUSDT	+0.0088%	4h	4,363.9	−0.027%	$82.7M	$143.5M	150x	as long as short
Lighter RH XAU	+0.0096%	1h	4,365.3	+0.005%	$20.2M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,363.4	−0.039%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,361.5	−0.084%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,360.4	−0.107%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0128%	1h	4,364.6	−0.011%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0136%	1h	4,359.3	−0.133%	$13.5M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0158%	4h	4,364.1	−0.022%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAPlong	+0.0189%	8h	4,365.1	long leg	$165.6M	$286.5M	100x
Bullet GOLD-USD	+0.0211%	1h	4,365.3	+0.005%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,362	−0.072%	$595K	$150K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,362.9	−0.050%	$235K	$656K	25x	as long as short
Bluefin GOLD-PERP	+0.0385%	1h	4,357.5	−0.175%	$26K	$22K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,365.1	+0.001%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0555%	4h	4,367.3	+0.050%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0653%	4h	4,369.7	+0.105%	$2.9M	$3.9M	75x	as long as short