Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0194%/8h= −21.3% APRpaid last 24h −0.048%

Price spread now: Hotstuff against OKX−0.147%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Hotstuff is 0.147% cheaper against OKX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,359.2	0.0226	pay 0.0226% / 8h	6h 36m	$165.0M	$284.2M	100x
Short	Hotstuff GOLD-PERP	4,352.8	0.0032	get 0.0004% / 1h	36m 25s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.147%Rate

Funding earned: −$40.82
Price spread: −0.147% → 0.000%: −$14.68
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$70.51
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Hotstuff: no order-book sample. Net counts fees only.

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, 3 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.5 bp −$647	14.8 bp −$7,406
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0316%	1h	4,348.2	−0.253%	$25K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,357	−0.050%	$70.1M	$293.1M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,358.8	−0.008%	$263.5M	$408.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,352.3	−0.158%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,357.9	−0.030%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.5	−0.130%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.9	−0.145%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERPshort	+0.0032%	1h	4,352.8	−0.147%	$33K	—	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.201%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356	−0.073%	$3.8M	$4.7M	40x	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	4,390.7	+0.723%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,356	−0.074%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,356.8	−0.056%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.2	−0.115%	$294.0M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.3	−0.112%	$14.9M	$57.8M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,356.7	−0.057%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,356.4	−0.064%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	−0.080%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.9	−0.190%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,357	−0.049%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.206%	$30.3M	$60.6M	50x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,357.4	−0.042%	$374.2M	$322.1M	1000x	as long as short
Binance XAUUSDT	+0.0086%	4h	4,357.5	−0.038%	$409.6M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.7	−0.149%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.122%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,353.2	−0.138%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	−0.094%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357	−0.050%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	−0.039%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0152%	4h	4,358.3	−0.022%	$69.2M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,357.4	−0.041%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0190%	4h	4,359.1	−0.002%	$84.1M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAPlong	+0.0226%	8h	4,359.2	long leg	$165.0M	$284.2M	100x
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,353.1	−0.140%	$234K	$661K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.2	−0.185%	$593K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.128%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0382%	4h	4,358.5	−0.016%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,354	−0.118%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0525%	4h	4,358.9	−0.006%	$2.9M	$3.9M	75x	as long as short