Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.048%

Price spread now: Hotstuff against OKX−0.106%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Hotstuff is 0.106% cheaper against OKX than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,342.7	0.0324	pay 0.0324% / 8h	3h 28m	$166.9M	$281.7M	100x
Short	Hotstuff GOLD-PERP	4,338.1	0.0104	get 0.0013% / 1h	28m 05s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$46.22
Price spread: −0.106% → 0.000%: −$10.59
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$71.82
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Hotstuff: no order-book sample. Net counts fees only.

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, 1 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.7 bp −$766	17.0 bp −$8,485
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4,345.6	+0.067%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,337.3	−0.124%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,340.6	−0.049%	$3.5M	$12.0M	25x	as long as short
Bybit XAUUSDT	+0.0015%	4h	4,342.1	−0.015%	$80.0M	$152.3M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,337.2	−0.128%	$13.3M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.178%	$619	$54	52x	as long as short
Bluefin GOLD-PERP	+0.0033%	1h	4,335.6	−0.164%	$25K	$14K	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,342.5	−0.005%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	−0.055%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.8	+0.716%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,340.2	−0.057%	$20.7M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.1	−0.106%	$293.5M	$49.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.6	−0.094%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.6	−0.094%	$4.2M	$37.4M	15x	as long as short
Lighter RH XAU	+0.0056%	1h	4,342.7	0.000%	$20.2M	$39.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	−0.074%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,340.8	−0.044%	$19K	$5K	5x	as long as short
Gate XAU_USDT	+0.0076%	4h	4,343	+0.007%	$268.7M	$416.4M	100x	as long as short
Aster XAUUSD1	+0.0090%	4h	4,343.3	+0.013%	$71.5M	$332.2M	20x	as long as short
Variational Omni XAU	+0.0100%	4h	4,341.1	−0.036%	$48.3M	$27.6M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,337.7	−0.115%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.5	−0.119%	$274K	$203K	50x	as long as short
Hotstuff GOLD-PERPshort	+0.0104%	1h	4,338.1	−0.106%	$33K	—	25x
edgeX XAUUSDC	+0.0112%	4h	4,338	−0.107%	$30.2M	$58.5M	50x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,340.7	−0.045%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,341.4	−0.029%	$370.9M	$320.0M	1000x	as long as short
Binance XAUUSDT	+0.0115%	4h	4,341.4	−0.029%	$417.6M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.4	−0.099%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0198%	4h	4,341.4	−0.030%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,339.7	−0.069%	$204K	$828K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,341.3	−0.032%	$4.3M	$1.9M	20x	as long as short
Bullet GOLD-USD	+0.0216%	1h	4,341.4	−0.030%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.3	−0.101%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0260%	4h	4,341.8	−0.020%	$71.0M	$109.2M	100x	as long as short
Phemex XAUUSDT	+0.0272%	4h	4,344.4	+0.038%	$2.2M	$967K	100x	as long as short
OKX XAU-USDT-SWAPlong	+0.0324%	8h	4,342.7	long leg	$166.9M	$281.7M	100x
BloFin XAU-USDT	+0.0362%	4h	4,341.7	−0.022%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.5	−0.028%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0597%	4h	4,345.8	+0.070%	$2.8M	$4.6M	75x	as long as short