Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.038%

Price spread now: OKX against Bybit−0.015%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days+0.003%$0 · spread now −0.015%, 7d avg −0.011%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,334.9	0.0109	pay 0.0055% / 4h	2h 04m	$80.6M	$171.5M	150x
Short	OKX XAU-USDT-SWAP	4,334.2	0.0244	get 0.0244% / 8h	6h 04m	$171.0M	$356.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $28.32
Price spread: −0.015% → −0.011%: −$0.42
Slippage, 4 orders: −$1.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: $5.78
Costs to cover: 0.221%
Break-even: 5.6 days

Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 3 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 Bybit live order book, 3 min ago	0.01 bp	5.7 bp −$6	7.6 bp −$76	12.6 bp −$1,259	36.8 bp −$18.4K
Sell OKX live order book, 3 min ago	0.12 bp	5.8 bp −$6	6.2 bp −$62	8.2 bp −$823	16.5 bp −$8,268

XAU on 39 exchanges

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	−1.7424%	1h	4,327.9	−0.160%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,338	+0.072%	$92K	$6.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,331.5	−0.077%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,330.6	−0.098%	$2.1M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.359%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,333.5	−0.031%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,336.9	+0.047%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,367	+0.742%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,332.6	−0.052%	$292.4M	$52.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.5	−0.101%	$15.1M	$58.1M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,334.1	−0.018%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,334.8	0.000%	$4.7M	$13.5M	25x	as long as short
Phoenix GOLD	+0.0076%	1h	4,322	−0.296%	$43K	$72K	25x	as long as short
Aster XAUUSD1	+0.0078%	4h	4,335.6	+0.018%	$73.1M	$275.1M	20x	as long as short
Variational Omni XAU	+0.0090%	4h	4,334.4	−0.011%	$47.3M	$29.4M	—	as long as short
Lighter XAU	+0.0096%	1h	4,334.8	−0.002%	$20.3M	$30.5M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,332.4	−0.057%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.8	−0.162%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,329.6	−0.122%	$25K	$1K	20x	as long as short
Gate XAU_USDT	+0.0102%	4h	4,336.3	+0.033%	$303.2M	$449.4M	100x	as long as short
Bybit XAUUSDTlong	+0.0109%	4h	4,334.9	long leg	$80.6M	$171.5M	150x
MEXC XAU_USDT	+0.0110%	4h	4,334.6	−0.005%	$360.1M	$365.0M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,333.6	−0.029%	$445.6M	$2.40B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,333.7	−0.027%	$160K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0116%	4h	4,333.8	−0.023%	$1.4M	$3.1M	25x	as long as short
edgeX XAUUSDC	+0.0119%	4h	4,324.3	−0.243%	$30.2M	$66.3M	50x	as long as short
Kalshi KXGOLDPERP	+0.0133%	24h	4,336.5	+0.038%	$3.5M	$50.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0136%	1h	4,333.4	−0.033%	$4.3M	$1.7M	20x	as long as short
Extended XAU-USD	+0.0152%	1h	4,331.1	−0.087%	$12.7M	$34.8M	25x	as long as short
Lighter RH XAU	+0.0160%	1h	4,336.4	+0.037%	$19.7M	$41.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0189%	1h	4,331.7	−0.073%	$135K	$747K	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,336.2	+0.030%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,334.2	−0.014%	$74.4M	$135.6M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0244%	8h	4,334.2	−0.015%	$171.0M	$356.4M	100x
Phemex XAUUSDT	+0.0268%	4h	4,334.6	−0.007%	$2.2M	$782K	100x	as long as short
BloFin XAU-USDT	+0.0351%	4h	4,333.5	−0.030%	$16.3M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0410%	1h	4,332.5	−0.054%	$583K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0307%	1h	4,333	−0.042%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1130%	4h	4,341.1	+0.144%	$3.2M	$7.0M	75x	as long as short