Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0161%/8h= −17.6% APRpaid last 24h −0.040%

Price spread now: GRVT against OKX−0.092%71s7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.205% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 7 days+0.139%+$14 · spread now −0.092%, 7d avg 0.000%

Together, before fees+0.144%+ Points / potential airdropGRVT: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GRVT is 0.092% cheaper against OKX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of 0.000%). Swap the legs. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,368.9	0.0161	pay 0.0161% / 8h	20m 25s	$159.0M	$274.0M	100x
Short	GRVT XAU_USDT_Perp	4,364.9	0	get 0.0000% / 4h	20m 25s	$1.4M	$3.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$33.73
Price spread: −0.092% → 0.000%: −$9.18
Slippage, 4 orders: −$1.45
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$63.36
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; GRVT: live order book, 3 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	6.1 bp −$611	13.9 bp −$6,929
Sell GRVT live order book, 3 min ago	0.01 bp	4.6 bp −$5	5.1 bp −$51	doesn't fit	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
Bluefin GOLD-PERP	−0.0215%	1h	4,360.5	−0.193%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	−0.0104%	1h	4,362.3	−0.151%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,360.3	−0.197%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,367.1	−0.041%	$71.7M	$225.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,367.7	−0.027%	$410.3M	$2.13B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,368.3	−0.015%	$82.6M	$142.3M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,366.9	−0.046%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,368.2	−0.016%	$269.3M	$414.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,366.8	−0.048%	$376.5M	$323.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,366.7	−0.050%	$69.6M	$113.4M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,366.6	−0.053%	$48.5M	$30.2M	—	as long as short
GRVT XAU_USDT_Perpshort	0.0000%	4h	4,364.9	−0.092%	$1.4M	$3.1M	25x
Kalshi KXGOLDPERP	0.0000%	24h	4,365.8	−0.071%	$4.1M	$36.0M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,371.4	+0.058%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.7	−0.119%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,359.1	−0.225%	$30.3M	$58.8M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,366	−0.066%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.423%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,366	−0.065%	$20.7M	$44.8M	25x	as long as short
Extended XAU-USD	+0.0040%	1h	4,362.7	−0.142%	$13.1M	$45.5M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,367.1	−0.041%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,400.4	+0.721%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,368.5	−0.009%	$20.3M	$42.1M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.9	−0.137%	$293.7M	$52.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,363.3	−0.127%	$14.6M	$56.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0053%	8h	4,366.8	−0.049%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,366.7	−0.049%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0098%	1h	4,366.3	−0.060%	$4.3M	$1.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,363.7	−0.119%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,362.3	−0.152%	$277K	$204K	50x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,367.2	−0.039%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364.3	−0.105%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAPlong	+0.0161%	8h	4,368.9	long leg	$159.0M	$274.0M	100x
HTX XAU-USDT	+0.0168%	4h	4,369.8	+0.020%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0208%	1h	4,365.6	−0.076%	$235K	$736K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.5	−0.100%	$602K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,367.2	−0.039%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0326%	4h	4,367.3	−0.036%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,368.2	−0.017%	$252K	—	111x	as long as short