Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0213%/8h= −23.3% APRpaid last 24h −0.062%

Price spread now: gTrade (Gains Network) against OKX−0.116%7-day average −0.108% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$278as in the Price arb table

costs, in and out, $10k−$2772.773% of the position

Long on OKX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 3 days (all we have)+0.093%+$9 · spread now −0.116%, 7d avg −0.108%

Together, before fees+0.023%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.108%, so right now this pair is about funding alone: −$6 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	4,363.4	0.0216	pay 0.0216% / 8h	6h 59m	$164.3M	$286.6M	100x
Short	gTrade (Gains Network) XAU/USD	4,358.4	L +0.0002% / S −0.0003%	get 0.0000% / 1h	59m 46s	$269K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.116%Rate

Funding earned: −$44.71
Price spread: −0.116% → −0.108%: −$0.81
Slippage, 4 orders: −$260.26
Fee OKX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$322.77
Costs to cover: 2.773%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 39 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	7.0 bp −$702	15.2 bp −$7,600
Sell gTrade (Gains Network) virtual book (oracle venue), 39 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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
Aster XAUUSD1	0.0000%	4h	4,363.7	+0.007%	$69.9M	$239.6M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,363.2	−0.005%	$265.2M	$400.0M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,359.7	−0.085%	$4.0M	$36.7M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,367.3	+0.088%	$93K	$10.0M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,358.4	−0.116%	$269K	—	250x
Extended XAU-USD	+0.0032%	1h	4,359.1	−0.098%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.297%	$619	$54	52x	as long as short
Variational Omni XAU	+0.0040%	4h	4,362	−0.033%	$48.4M	$28.5M	—	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.9	+0.011%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,362.9	−0.011%	$5.6M	$1.9M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,395.9	+0.745%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.1	−0.076%	$294.3M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,358.8	−0.105%	$14.8M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,359.6	−0.087%	$48K	$64K	25x	as long as short
MEXC XAU_USDT	+0.0058%	4h	4,363.5	+0.003%	$372.8M	$318.2M	1000x	as long as short
Binance XAUUSDT	+0.0060%	4h	4,363.7	+0.006%	$411.7M	$2.14B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.157%	$30.3M	$60.4M	50x	as long as short
Lighter XAU	+0.0072%	1h	4,361.8	−0.036%	$20.6M	$43.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.3	−0.001%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0096%	1h	4,364.4	+0.022%	$20.2M	$40.5M	25x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,361.7	−0.038%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,358.5	−0.112%	$2.0M	$5.0M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.1	−0.075%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.2	−0.097%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,355.2	−0.189%	$26K	$22K	20x	as long as short
Bitget XAUUSDT	+0.0112%	4h	4,362.6	−0.018%	$69.6M	$111.3M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,361.5	−0.044%	$4.3M	$1.8M	20x	as long as short
Hotstuff GOLD-PERP	+0.0128%	1h	4,358.3	−0.117%	$33K	—	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,362.9	−0.012%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0142%	4h	4,362.6	−0.018%	$1.4M	$3.1M	25x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,363.6	+0.005%	$83.7M	$144.9M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0209%	1h	4,360.6	−0.064%	$235K	$658K	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,362.9	−0.012%	$59K	$82K	10x	as long as short
OKX XAU-USDT-SWAPlong	+0.0216%	8h	4,363.4	long leg	$164.3M	$286.6M	100x
BloFin XAU-USDT	+0.0225%	4h	4,362.7	−0.015%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,359.7	−0.085%	$595K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0323%	4h	4,365.5	+0.048%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,362.9	−0.011%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0559%	4h	4,367.1	+0.086%	$2.9M	$3.9M	75x	as long as short