Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h +0.039%

Price spread now: OKX against Ondo Perps+0.087%58s7-day average +0.141% · you sell dearer than you buy

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

Long on Ondo Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days+0.019%+$2 · spread now +0.087%, 7d avg +0.141%

Together, before fees+0.084%+ Points / potential airdropOndo Perps: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.054% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.087% now, against its 7-day average of +0.141%). If the spread goes back, that is −$5 on $10k: about 39 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.064% in total) that is about 5.9 days. The two prices were read 58 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	Ondo Perps XAU-USD.P	4,367.5	0.0050	pay 0.0006% / 1h	15m 46s	$14.7M	$57.0M	25x
Short	OKX XAU-USDT-SWAP	4,371.3	0.0162	get 0.0162% / 8h	15m 46s	$158.6M	$274.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Ondo Perps. 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 Ondo PerpsbpFee OKXbpOrdersPrice spread, now +0.087%Rate

Funding earned: $23.39
Price spread: +0.087% → +0.141%: −$5.42
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: $2.97
Costs to cover: 0.150%
Break-even: 6.1 days

Slippage unknown: Ondo Perps: no order-book sample; OKX: live order book, 3 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.11 bp	5.1 bp −$5	5.7 bp −$57	7.7 bp −$770	15.6 bp −$7,777

Ondo Perps: 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
Bluefin GOLD-PERP	−0.0227%	1h	4,363	−0.104%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	+0.064%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.1	+0.082%	$71.9M	$224.9M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,370.5	+0.069%	$410.5M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,371	+0.080%	$82.7M	$142.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371.1	+0.082%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.5	+0.092%	$267.4M	$417.6M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.7	+0.073%	$375.4M	$324.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.8	+0.076%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,370.5	+0.068%	$48.5M	$29.3M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,373.1	+0.128%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,368	+0.011%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.3	+0.179%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,366.6	−0.021%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,362.7	−0.109%	$30.3M	$59.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,367.3	−0.005%	$33K	—	25x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,370.7	+0.073%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.391%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,369.7	+0.050%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,371.5	+0.091%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.1	+0.861%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,372.2	+0.107%	$20.2M	$42.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367	−0.012%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,367.5	long leg	$14.7M	$57.0M	25x
Paradex XAU-USD-PERP	+0.0054%	8h	4,370.8	+0.076%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,366.9	−0.014%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.1	+0.060%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.5	+0.001%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.8	+0.029%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0104%	1h	4,370	+0.057%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0109%	1h	4,370.7	+0.073%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	+0.059%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0162%	8h	4,371.3	+0.087%	$158.6M	$274.3M	100x
HTX XAU-USDT	+0.0181%	4h	4,377	+0.218%	$2.8M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,367.7	+0.005%	$602K	$137K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,371	+0.081%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0254%	1h	4,369.1	+0.036%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0317%	4h	4,370.3	+0.063%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,370.5	+0.069%	$252K	—	111x	as long as short