Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.038%

Price spread now: Bybit against OKX+0.001%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days+0.014%+$1 · spread now +0.001%, 7d avg +0.011%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,321.9	0.0224	pay 0.0224% / 8h	4h 43m	$171.4M	$366.1M	100x
Short	Bybit XAUUSDT	4,321.9	0.0170	get 0.0085% / 4h	43m 17s	$85.3M	$168.7M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$11.26
Price spread: +0.001% → +0.011%: −$0.98
Slippage, 4 orders: −$0.37
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.61
Costs to cover: 0.214%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: 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	5.2 bp −$52	7.1 bp −$713	16.9 bp −$8,426
Sell Bybit live order book, 4 min ago	0.01 bp	5.6 bp −$6	6.8 bp −$68	10.4 bp −$1,041	31.3 bp −$15.6K

XAU on 39 exchanges

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
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,316.1	−0.134%	$2.1M	$5.1M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,324.3	+0.056%	$92K	$5.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,316.4	−0.128%	$308K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,319.6	−0.053%	$35K	$3K	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.660%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0038%	4h	4,321.9	0.000%	$71.1M	$277.6M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,318.1	−0.088%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,318.1	−0.088%	$6.6M	$3.3M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.2	+0.724%	—	$1.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,316.5	−0.126%	$15.2M	$59.1M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0053%	1h	4,317.6	−0.099%	$291.8M	$46.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0057%	8h	4,319.6	−0.053%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,320.3	−0.036%	$4.7M	$13.4M	25x	as long as short
Variational Omni XAU	+0.0067%	4h	4,315.6	−0.146%	$47.1M	$27.9M	—	as long as short
Lighter XAU	+0.0072%	1h	4,319.4	−0.057%	$20.0M	$30.4M	25x	as long as short
MEXC XAU_USDT	+0.0078%	4h	4,320.5	−0.032%	$350.7M	$354.4M	1000x	as long as short
Binance XAUUSDT	+0.0080%	4h	4,320.5	−0.032%	$443.3M	$2.45B	100x	as long as short
edgeX XAUUSDC	+0.0082%	4h	4,313.3	−0.198%	$30.2M	$67.2M	50x	as long as short
Gate XAU_USDT	+0.0084%	4h	4,323	+0.026%	$304.3M	$437.3M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0090%	4h	4,320.1	−0.042%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,317.2	−0.109%	$1.4M	$1.5M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,317.2	−0.108%	$286K	$228K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,314.1	−0.180%	$25K	$1K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,318.7	−0.073%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0124%	1h	4,318.1	−0.088%	$43K	$71K	25x	as long as short
Lighter RH XAU	+0.0128%	1h	4,321.8	−0.003%	$19.5M	$39.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0148%	24h	4,321.4	−0.012%	$3.5M	$52.0M	15x	as long as short
Bybit XAUUSDTshort	+0.0170%	4h	4,321.9	+0.001%	$85.3M	$168.7M	150x
Phemex XAUUSDT	+0.0191%	4h	4,320.7	−0.028%	$2.2M	$733K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0198%	1h	4,317.9	−0.092%	$582K	$166K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,320.7	−0.029%	$73.1M	$142.0M	100x	as long as short
Extended XAU-USD	+0.0208%	1h	4,316.5	−0.126%	$12.6M	$34.4M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,318.8	−0.072%	$135K	$661K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,320.3	−0.037%	$4.3M	$1.7M	20x	as long as short
Bullet GOLD-USD	+0.0219%	1h	4,320.7	−0.029%	$59K	$77K	10x	as long as short
OKX XAU-USDT-SWAPlong	+0.0224%	8h	4,321.9	long leg	$171.4M	$366.1M	100x
BloFin XAU-USDT	+0.0319%	4h	4,320.6	−0.031%	$16.5M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0424% / S −0.0257%	1h	4,320.5	−0.033%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1016%	4h	4,327.8	+0.137%	$3.2M	$7.1M	75x	as long as short