Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h −0.010%

Price spread now: OKX against Deribit+0.065%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.670%−$67 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.065%, 7d avg +0.127%

Together, before fees−0.678%−$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.062% cheaper against Deribit than usual: you would sell low and buy high (spread +0.065% now, against its 7-day average of +0.127%). If the spread goes back, that is −$6 on $10k: about 29 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 4 days funding on this pair cost −0.670%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,325.3	0.0074	pay 0.0009% / 1h	8m 51s	$135K	$747K	25x
Short	OKX XAU-USDT-SWAP	4,328.1	0.0244	get 0.0244% / 8h	6h 08m	$170.7M	$353.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now +0.065%Rate

Funding earned: $35.81
Price spread: +0.065% → +0.127%: −$6.19
Slippage, 4 orders: −$5.79
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $6.83
Costs to cover: 0.228%
Break-even: 5.7 days

Slippage from Deribit: live order book, 43 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 Deribit live order book, 43 min ago	0.12 bp	4.2 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.12 bp	5.5 bp −$5	5.9 bp −$59	7.5 bp −$751	14.5 bp −$7,265

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
SunX XAU-USDT	0.0000%	4h	4,331.8	+0.151%	$92K	$6.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,323.4	−0.044%	$274K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,320.5	−0.111%	$2.0M	$5.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,321.9	−0.079%	$32K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.581%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,325.9	+0.014%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.8	−0.012%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,360.1	+0.805%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,324.2	−0.025%	$291.9M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,322.5	−0.065%	$15.0M	$57.6M	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	+0.0054%	8h	4,325.9	+0.015%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,327.7	+0.055%	$4.6M	$13.5M	25x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0074%	1h	4,325.3	long leg	$135K	$747K	25x
Phoenix GOLD	+0.0076%	1h	4,322	−0.076%	$43K	$72K	25x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,329.2	+0.090%	$73.5M	$274.5M	20x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.5	−0.018%	$47.2M	$29.3M	—	as long as short
Gate XAU_USDT	+0.0092%	4h	4,329	+0.085%	$300.9M	$447.0M	100x	as long as short
Lighter XAU	+0.0096%	1h	4,326.9	+0.036%	$20.2M	$30.2M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.6	−0.062%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,321.6	−0.086%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,319.9	−0.125%	$25K	$1K	20x	as long as short
Bybit XAUUSDT	+0.0103%	4h	4,328.2	+0.066%	$80.5M	$170.6M	150x	as long as short
MEXC XAU_USDT	+0.0112%	4h	4,326.6	+0.030%	$363.4M	$362.2M	1000x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,325.7	+0.010%	$160K	$87	10x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,327.1	+0.042%	$440.4M	$2.38B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0116%	4h	4,325.6	+0.007%	$1.4M	$3.1M	25x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,322.7	−0.060%	$30.2M	$66.2M	50x	as long as short
Kalshi KXGOLDPERP	+0.0132%	24h	4,328.5	+0.074%	$3.5M	$49.8M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0138%	1h	4,326.1	+0.018%	$4.3M	$1.7M	20x	as long as short
Extended XAU-USD	+0.0152%	1h	4,323	−0.052%	$12.7M	$34.9M	25x	as long as short
Lighter RH XAU	+0.0160%	1h	4,329.6	+0.099%	$19.8M	$40.6M	25x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,327.6	+0.053%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0216%	4h	4,327.2	+0.044%	$74.2M	$134.2M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0244%	8h	4,328.1	+0.065%	$170.7M	$353.8M	100x
BloFin XAU-USDT	+0.0352%	4h	4,325.8	+0.012%	$16.3M	$5.3M	100x	as long as short
Phemex XAUUSDT	+0.0360%	4h	4,329.4	+0.095%	$2.2M	$783K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,324.3	−0.024%	$582K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0458% / S −0.0306%	1h	4,327.4	+0.049%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1128%	4h	4,334.1	+0.203%	$3.2M	$7.0M	75x	as long as short