Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h −0.022%

Price spread now: Polymarket Perps against OKX−0.023%7-day average −0.088% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.043%−$4 · spread now −0.023%, 7d avg −0.088%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.065% dearer against OKX than usual: you sell high and buy low (spread −0.023% now, against its 7-day average of −0.088%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 7 days (−0.023% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,348.5	0.0249	pay 0.0249% / 8h	5h 49m	$164.4M	$282.6M	100x
Short	Polymarket Perps GOLD-USD	4,347.5	0.0107	get 0.0013% / 1h	49m 51s	$4.3M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$29.93
Price spread: −0.023% → −0.088%: $6.48
Slippage, 4 orders: −$1.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$42.84
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Polymarket Perps: 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	5.8 bp −$583	14.9 bp −$7,436
Sell Polymarket Perps live order book, 4 min ago	0.12 bp	4.3 bp −$4	4.4 bp −$44	5.1 bp −$515	doesn't fit

XAU on 38 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	−0.0084%	1h	4,342.4	−0.140%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0032%	1h	4,345.5	−0.069%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,349.3	+0.017%	$264.2M	$406.0M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352.7	+0.097%	$92K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.7	−0.110%	$269K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,348.8	+0.006%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.5	−0.114%	$13.6M	$40.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.044%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0037%	24h	4,346.2	−0.053%	$4.1M	$36.2M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.018%	$3.8M	$4.6M	40x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,381.8	+0.766%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,348.1	−0.009%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,346.1	−0.054%	$20.6M	$41.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,346.7	−0.041%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345	−0.080%	$293.2M	$48.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.2	−0.076%	$15.1M	$57.8M	25x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,348.6	+0.002%	$70.0M	$329.9M	20x	as long as short
Lighter RH XAU	+0.0080%	1h	4,348.8	+0.008%	$20.1M	$39.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,348.3	−0.004%	$19K	$5K	5x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	−0.074%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,350.6	+0.049%	$275K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,347.9	−0.014%	$48.3M	$27.9M	—	as long as short
Polymarket Perps GOLD-USDshort	+0.0107%	1h	4,347.5	−0.023%	$4.3M	$1.9M	20x
Binance XAUUSDT	+0.0108%	4h	4,347.7	−0.018%	$410.1M	$2.10B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,347.8	−0.015%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,348	−0.011%	$371.3M	$316.0M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,353.6	+0.117%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0136%	4h	4,348.4	−0.002%	$30.3M	$58.7M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,352	+0.080%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0196%	1h	4,348.5	0.000%	$58K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0204%	4h	4,348.5	0.000%	$84.0M	$144.9M	150x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,347.8	−0.017%	$69.7M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAPlong	+0.0249%	8h	4,348.5	long leg	$164.4M	$282.6M	100x
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,345.3	−0.074%	$593K	$133K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0279%	1h	4,346	−0.057%	$259K	$703K	25x	as long as short
Phemex XAUUSDT	+0.0343%	4h	4,350.5	+0.046%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0398% / S −0.0207%	1h	4,348.5	0.000%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0600%	4h	4,353.8	+0.123%	$2.8M	$4.2M	75x	as long as short