Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h −0.045%

Price spread now: OKX against BloFin−0.002%63s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.223% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.365%−$36 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.002%, 7d avg +0.014%

Together, before fees−0.384%−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAU-USDT	4,324.9	0.0341	pay 0.0170% / 4h	32m 18s	$16.4M	$4.6M	100x
Short	OKX XAU-USDT-SWAP	4,324.8	0.0276	get 0.0276% / 8h	32m 18s	$173.8M	$299.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BloFin. 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 BloFinbpFee OKXbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$13.55
Price spread: −0.002% → +0.014%: −$1.6
Slippage, 4 orders: −$0.27
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$37.43
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; OKX: live order book, 2 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 BloFin live order book, 7 min ago	0.01 bp	6.0 bp −$6	6.1 bp −$61	7.6 bp −$760	doesn't fit
Sell OKX live order book, 2 min ago	0.12 bp	5.1 bp −$5	6.1 bp −$61	8.3 bp −$834	14.7 bp −$7,367

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
Hotstuff GOLD-PERP	−0.0096%	1h	4,322.5	−0.055%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0086%	1h	4,318.6	−0.145%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,328.4	+0.081%	$92K	$7.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,321.6	−0.076%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.590%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.2	+0.053%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,323.3	−0.037%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356.6	+0.733%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,321	−0.090%	$291.7M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,320.5	−0.101%	$15.0M	$55.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0053%	4h	4,325.4	+0.011%	$77.6M	$152.8M	150x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,325.8	+0.021%	$72.9M	$272.0M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,323	−0.043%	$20.5M	$29.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0065%	8h	4,323.9	−0.022%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.5	−0.102%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.9	0.000%	$47.2M	$29.3M	—	as long as short
Kalshi KXGOLDPERP	+0.0093%	24h	4,325.7	+0.019%	$3.8M	$44.6M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,323.3	−0.037%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,321	−0.091%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,324.3	−0.014%	$362.9M	$327.8M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,326.8	+0.043%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.7	−0.050%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,324.2	−0.015%	$425.0M	$2.13B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323.7	−0.028%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0108%	4h	4,326.2	+0.031%	$285.6M	$416.5M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,323.1	−0.042%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,325.7	+0.018%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,320	−0.114%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,324.1	−0.019%	$70.1M	$118.5M	100x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,324.4	−0.011%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,324.4	−0.011%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,322.1	−0.065%	$578K	$135K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,322.4	−0.058%	$163K	$872K	25x	as long as short
OKX XAU-USDT-SWAPshort	+0.0276%	8h	4,324.8	−0.002%	$173.8M	$299.0M	100x
BloFin XAU-USDTlong	+0.0341%	4h	4,324.9	long leg	$16.4M	$4.6M	100x
Phemex XAUUSDT	+0.0370%	4h	4,327.2	+0.053%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0424%	4h	4,331.1	+0.143%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,324.3	−0.015%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,325	+0.003%	$4.6M	$13.3M	25x	as long as short