Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.022%

Price spread now: Variational Omni against OKX−0.039%7-day average −0.013% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.039%, 7d avg −0.013%

Together, before fees+0.015%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.026% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.012% in total (about -1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAU-USDT-SWAP	4,347.9	0.0301	pay 0.0301% / 8h	4h 05m	$165.3M	$281.9M	100x
Short	Variational Omni XAU	4,346.2	0.0079	get 0.0039% / 4h	5m 53s	$48.4M	$28.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.039%Rate

Funding earned: −$46.66
Price spread: −0.039% → −0.013%: −$2.61
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$59.27
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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	6.2 bp −$622	15.5 bp −$7,766
Sell Variational Omni RFQ quote, 3 min ago	1.55 bp	doesn't fit	1.6 bp −$16	3.3 bp −$332	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
RISEx XAU/USDC	0.0000%	1h	4,346.5	−0.033%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,347.6	−0.007%	$266.2M	$418.0M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.2	+0.077%	$92K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.6	−0.123%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,345.6	−0.053%	$20.8M	$38.3M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.4	−0.126%	$13.2M	$38.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.058%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,347.5	−0.009%	$20.1M	$39.5M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.009%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.2	−0.039%	$5.7M	$2.0M	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	4,379.8	+0.734%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.9	−0.069%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0049%	24h	4,345.9	−0.046%	$4.2M	$37.3M	15x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.4	−0.103%	$293.8M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343	−0.113%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,348	+0.002%	$71.3M	$333.1M	20x	as long as short
Variational Omni XAUshort	+0.0079%	4h	4,346.2	−0.039%	$48.4M	$28.2M	—
Paradex XAU-USD-PERP	+0.0080%	8h	4,346.5	−0.032%	$19K	$5K	5x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,343.8	−0.094%	$33K	—	25x	as long as short
GRVT XAU_USDT_Perp	+0.0090%	4h	4,347	−0.022%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0090%	4h	4,346.5	−0.032%	$372.6M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0091%	4h	4,346.5	−0.033%	$414.2M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.6	−0.099%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	−0.106%	$274K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,340.3	−0.175%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,342.2	−0.130%	$30.2M	$58.0M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.1	−0.041%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,345.2	−0.062%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0167%	1h	4,346.8	−0.025%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,347	−0.020%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,343.9	−0.092%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0230%	4h	4,349.4	+0.034%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,346.7	−0.028%	$71.1M	$109.6M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,347.5	−0.010%	$85.1M	$145.4M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,345.3	−0.060%	$206K	$825K	25x	as long as short
OKX XAU-USDT-SWAPlong	+0.0301%	8h	4,347.9	long leg	$165.3M	$281.9M	100x
BloFin XAU-USDT	+0.0331%	4h	4,348	+0.001%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0419% / S −0.0241%	1h	4,347	−0.022%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0613%	4h	4,351.3	+0.078%	$2.8M	$4.6M	75x	as long as short