Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.024%

Price spread now: OKX against RISEx+0.003%46s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$180.182% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.003%, 7d avg +0.008%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.007% in total (about 0.8% 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	RISEx XAU/USDC	4,347.7	0	get 0.0000% / 1h	35m 55s	$3.4M	$12.3M	25x
Short	OKX XAU-USDT-SWAP	4,347.8	0.0284	get 0.0284% / 8h	4h 35m	$165.6M	$281.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against RISEx. 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 RISExbpFee OKXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $59.7
Price spread: +0.003% → +0.008%: −$0.53
Slippage, 4 orders: −$2.21
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: $40.96
Costs to cover: 0.182%
Break-even: 2.2 days

Slippage from RISEx: live order book, 3 min ago; OKX: 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 RISEx live order book, 3 min ago	0.99 bp	4.0 bp −$4	4.7 bp −$47	34.2 bp −$3,424	doesn't fit
Sell OKX live order book, 3 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.3 bp −$629	12.5 bp −$6,245

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
RISEx XAU/USDClong	0.0000%	1h	4,347.7	long leg	$3.4M	$12.3M	25x
SunX XAU-USDT	0.0000%	4h	4,351.4	+0.085%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.4	−0.097%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0010%	4h	4,347.1	−0.014%	$267.7M	$411.6M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,345.6	−0.047%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.9	−0.109%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.063%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,348	+0.007%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.7	+0.001%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,347.8	+0.003%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0045%	24h	4,346	−0.038%	$4.1M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.8	+0.762%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.3	−0.077%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.7	−0.091%	$293.7M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.1	−0.083%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,346.6	−0.024%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0080%	4h	4,346.7	−0.022%	$48.5M	$27.8M	—	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,347.7	0.000%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	+0.033%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,347	−0.015%	$372.7M	$317.5M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,346.2	−0.033%	$414.1M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,343.6	−0.093%	$30.2M	$58.2M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.7	−0.068%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.7	+0.001%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347	−0.015%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	−0.008%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0153%	1h	4,346.8	−0.020%	$4.3M	$1.9M	20x	as long as short
Hotstuff GOLD-PERP	+0.0160%	1h	4,345.2	−0.057%	$33K	—	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,344.2	−0.079%	$592K	$132K	25x	as long as short
Bullet GOLD-USD	+0.0203%	1h	4,347.5	−0.003%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0205%	4h	4,349.7	+0.047%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,345.9	−0.040%	$243K	$789K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,345.9	−0.040%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,347.2	−0.010%	$85.0M	$144.9M	150x	as long as short
OKX XAU-USDT-SWAPshort	+0.0284%	8h	4,347.8	+0.003%	$165.6M	$281.7M	100x
Bluefin GOLD-PERP	+0.0336%	1h	4,341	−0.153%	$25K	$14K	20x	as long as short
BloFin XAU-USDT	+0.0347%	4h	4,348	+0.007%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0230%	1h	4,347.5	−0.005%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0628%	4h	4,352.7	+0.116%	$2.9M	$4.3M	75x	as long as short