Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.027%

Price spread now: RISEx against OKX−0.076%7-day average −0.009% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$170.172% of the position

Long on OKX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 7 days+0.084%+$8 · spread now −0.076%, 7d avg −0.009%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and RISEx is 0.068% cheaper against OKX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.007% in total (about -0.8% 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	4,344.5	0.0319	pay 0.0319% / 8h	3h 37m	$166.8M	$282.0M	100x
Short	RISEx XAU/USDC	4,341.2	0.0005	get 0.0001% / 1h	37m 01s	$3.5M	$12.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$65.98
Price spread: −0.076% → −0.009%: −$6.77
Slippage, 4 orders: −$1.22
Fee OKX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$89.98
Costs to cover: 0.172%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; RISEx: 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 OKX live order book, 2 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.6 bp −$659	15.7 bp −$7,837
Sell RISEx live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.2 bp −$42	33.4 bp −$3,341	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
SunX XAU-USDT	0.0000%	4h	4,347.7	+0.073%	$92K	$8.7M	20x	as long as short
Bluefin GOLD-PERP	+0.0002%	1h	4,335.5	−0.207%	$25K	$14K	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,339.5	−0.114%	$271K	—	250x	as long as short
RISEx XAU/USDCshort	+0.0005%	1h	4,341.2	−0.076%	$3.5M	$12.1M	25x
Hotstuff GOLD-PERP	+0.0016%	1h	4,338.7	−0.134%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,339.2	−0.122%	$13.3M	$37.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.136%	$619	$54	52x	as long as short
Gate XAU_USDT	+0.0038%	4h	4,344.8	+0.006%	$268.0M	$414.5M	100x	as long as short
Lighter RH XAU	+0.0040%	1h	4,344.3	−0.006%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.9	−0.060%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0041%	4h	4,343.9	−0.014%	$80.2M	$152.0M	150x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	−0.097%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.1	+0.704%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,342.1	−0.056%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340	−0.104%	$293.6M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.7	−0.135%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339	−0.127%	$4.3M	$37.4M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	−0.115%	$2.1M	$4.8M	25x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,344.6	+0.003%	$71.5M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,341.7	−0.064%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,340.5	−0.093%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,338.1	−0.147%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.5	−0.160%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,343.4	−0.025%	$370.3M	$319.4M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342	−0.057%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0107%	4h	4,343.5	−0.023%	$417.6M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,336.6	−0.181%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.5	−0.115%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0178%	4h	4,341.1	−0.078%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343.1	−0.031%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,342.6	−0.044%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0250%	4h	4,343.6	−0.022%	$71.1M	$109.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,341.7	−0.064%	$205K	$828K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	−0.098%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0294%	4h	4,345.1	+0.013%	$2.2M	$967K	100x	as long as short
OKX XAU-USDT-SWAPlong	+0.0319%	8h	4,344.5	long leg	$166.8M	$282.0M	100x
BloFin XAU-USDT	+0.0379%	4h	4,343	−0.035%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,343.7	−0.019%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0618%	4h	4,346.4	+0.043%	$2.8M	$4.6M	75x	as long as short