Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h +0.001%

Price spread now: Bitget against OKX−0.012%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.012%, 7d avg −0.002%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.088%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,351.8	0.0336	pay 0.0336% / 8h	2h 45m	$168.3M	$282.2M	100x
Short	Bitget XAUUSDT	4,351.3	0.0280	get 0.0140% / 4h	2h 45m	$71.5M	$107.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$11.73
Price spread: −0.012% → −0.002%: −$1
Slippage, 4 orders: −$0.58
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$35.31
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bitget: live order book, 4 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	8.0 bp −$800	17.0 bp −$8,486
Sell Bitget live order book, 4 min ago	0.01 bp	6.0 bp −$6	7.1 bp −$71	12.2 bp −$1,218	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	−0.0052%	1h	4,344.4	−0.169%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.9	+0.071%	$93K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.3	−0.127%	$272K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,347.4	−0.101%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.7	−0.118%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.032%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.5	−0.007%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,348.9	−0.067%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.2	+0.722%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.3	−0.103%	$293.7M	$49.5M	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	4,346.9	−0.112%	$15.1M	$56.7M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,351.2	−0.014%	$3.7M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0054%	24h	4,349.3	−0.057%	$4.2M	$39.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,349.6	−0.051%	$20.7M	$30.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,350.5	−0.031%	$19K	$5K	5x	as long as short
Bybit XAUUSDT	+0.0071%	4h	4,351.4	−0.008%	$80.2M	$151.7M	150x	as long as short
Gate XAU_USDT	+0.0072%	4h	4,352.1	+0.008%	$271.7M	$397.5M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,348.6	−0.074%	$2.1M	$4.7M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.9	−0.113%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	−0.111%	$277K	$204K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,352.1	+0.007%	$20.1M	$38.2M	25x	as long as short
Aster XAUUSD1	+0.0105%	4h	4,352.4	+0.013%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0107%	4h	4,349.4	−0.056%	$48.5M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,349.5	−0.053%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,350.6	−0.028%	$370.2M	$318.0M	1000x	as long as short
Binance XAUUSDT	+0.0118%	4h	4,350.6	−0.027%	$418.8M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0119%	4h	4,346.1	−0.130%	$30.2M	$58.2M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0120%	4h	4,350.4	−0.031%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.7	−0.094%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0141%	1h	4,348.6	−0.074%	$203K	$822K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,350.1	−0.038%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0167%	1h	4,350	−0.041%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0200%	4h	4,352.9	+0.025%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0246%	1h	4,347.2	−0.106%	$591K	$128K	25x	as long as short
HTX XAU-USDT	+0.0266%	4h	4,352.4	+0.013%	$2.8M	$4.6M	75x	as long as short
Bitget XAUUSDTshort	+0.0280%	4h	4,351.3	−0.012%	$71.5M	$107.9M	100x
OKX XAU-USDT-SWAPlong	+0.0336%	8h	4,351.8	long leg	$168.3M	$282.2M	100x
BloFin XAU-USDT	+0.0371%	4h	4,349.2	−0.059%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,350.1	−0.038%	$251K	—	111x	as long as short