Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h +0.027%

Price spread now: OKX against Binance+0.029%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.029%, 7d avg +0.004%

Together, before fees−0.047%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and OKX is 0.026% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.1% 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	Binance XAUUSDT	4,346	0.0120	pay 0.0060% / 4h	3h 05m	$418.8M	$2.09B	100x
Short	OKX XAU-USDT-SWAP	4,347.3	0.0330	get 0.0330% / 8h	3h 05m	$167.2M	$283.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $44.12
Price spread: +0.029% → +0.004%: $2.57
Slippage, 4 orders: −$0.25
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $26.44
Costs to cover: 0.203%
Break-even: 2.8 days

Slippage from Binance: live order book, 8 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 Binance live order book, 8 min ago	0.01 bp	5.0 bp −$5	5.4 bp −$54	7.3 bp −$728	doesn't fit
Sell OKX live order book, 3 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.0 bp −$701	13.5 bp −$6,738

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	−0.0008%	1h	4,338.9	−0.164%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.5	+0.104%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342	−0.094%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,346.6	+0.014%	$3.7M	$12.5M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342	−0.093%	$13.2M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.101%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.3	−0.017%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,345.1	−0.021%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,378.3	+0.743%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,342.5	−0.081%	$293.7M	$49.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.9	−0.072%	$15.0M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0052%	24h	4,343.8	−0.051%	$4.0M	$38.9M	15x	as long as short
Bybit XAUUSDT	+0.0055%	4h	4,347.1	+0.024%	$80.1M	$152.0M	150x	as long as short
Lighter XAU	+0.0056%	1h	4,345	−0.023%	$20.7M	$34.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.7	−0.100%	$2.1M	$4.7M	25x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,347.6	+0.036%	$268.3M	$419.0M	100x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,345.7	−0.006%	$19K	$5K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,342.6	−0.079%	$33K	—	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,347.6	+0.036%	$20.2M	$40.2M	25x	as long as short
Aster XAUUSD1	+0.0098%	4h	4,346.5	+0.010%	$71.5M	$331.5M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.4	−0.083%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.4	−0.129%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0105%	4h	4,345.4	−0.015%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,345.1	−0.022%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,346.2	+0.004%	$370.3M	$321.7M	1000x	as long as short
Binance XAUUSDTlong	+0.0120%	4h	4,346	long leg	$418.8M	$2.09B	100x
edgeX XAUUSDC	+0.0135%	4h	4,340	−0.138%	$30.2M	$57.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,342	−0.093%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0154%	4h	4,343.9	−0.049%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0201%	4h	4,349	+0.068%	$2.2M	$967K	100x	as long as short
Polymarket Perps GOLD-USD	+0.0204%	1h	4,345.9	−0.003%	$4.2M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,346.1	+0.002%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,344.3	−0.040%	$204K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,342.8	−0.074%	$590K	$135K	25x	as long as short
Bitget XAUUSDT	+0.0274%	4h	4,346.6	+0.014%	$71.1M	$108.8M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0330%	8h	4,347.3	+0.029%	$167.2M	$283.1M	100x
BloFin XAU-USDT	+0.0360%	4h	4,345	−0.023%	$15.7M	$4.4M	100x	as long as short
HTX XAU-USDT	+0.0410%	4h	4,346.8	+0.018%	$2.8M	$4.6M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,346.1	+0.002%	$250K	—	111x	as long as short