Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.019%

Price spread now: OKX against Polymarket Perps−0.014%7-day average +0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

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

costs, in and out, $10k−$190.188% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.085%+$8 · spread now −0.014%, 7d avg +0.088%

Together, before fees+0.105%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.101% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.088%). If the spread goes back, that is −$10 on $10k: about 2.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.020% in total) that is about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,346.6	0.0203	pay 0.0025% / 1h	3m 50s	$4.2M	$2.0M	20x
Short	OKX XAU-USDT-SWAP	4,346	0.0331	get 0.0331% / 8h	3h 03m	$167.3M	$283.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Polymarket Perps. 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 Polymarket PerpsbpFee OKXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $26.81
Price spread: −0.014% → +0.088%: −$10.14
Slippage, 4 orders: −$0.8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$2.12
Costs to cover: 0.188%
Break-even: 7.6 days

Slippage from Polymarket Perps: live order book, 5 min ago; OKX: live order book, 5 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 Polymarket Perps live order book, 5 min ago	0.12 bp	4.4 bp −$4	4.7 bp −$47	5.8 bp −$580	doesn't fit
Sell OKX live order book, 5 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	7.0 bp −$701	13.5 bp −$6,738

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
Bluefin GOLD-PERP	−0.0013%	1h	4,339.8	−0.158%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.2	+0.105%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.6	−0.092%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,347.3	+0.016%	$3.7M	$12.5M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.7	−0.091%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.088%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,346.1	−0.012%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,345.1	−0.035%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.4	+0.755%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.2	−0.078%	$293.8M	$49.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.4	−0.074%	$15.0M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0052%	24h	4,345.4	−0.028%	$4.2M	$39.3M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,345.9	−0.017%	$20.7M	$34.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,342.7	−0.090%	$2.1M	$4.7M	25x	as long as short
Bybit XAUUSDT	+0.0059%	4h	4,346.1	−0.011%	$80.0M	$152.0M	150x	as long as short
Gate XAU_USDT	+0.0060%	4h	4,347.1	+0.012%	$268.3M	$419.3M	100x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,346.4	−0.005%	$19K	$5K	5x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,342.6	−0.092%	$33K	—	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,348.4	+0.042%	$20.2M	$40.2M	25x	as long as short
Aster XAUUSD1	+0.0100%	4h	4,346.5	−0.002%	$71.5M	$331.5M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,343	−0.083%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,341.7	−0.113%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0105%	4h	4,345.4	−0.029%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,345.9	−0.017%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,345.7	−0.021%	$370.2M	$322.1M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,345	−0.037%	$418.7M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0135%	4h	4,340	−0.151%	$30.2M	$57.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,341.7	−0.113%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0148%	4h	4,345.6	−0.023%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0192%	4h	4,349.1	+0.057%	$2.2M	$967K	100x	as long as short
Polymarket Perps GOLD-USDlong	+0.0203%	1h	4,346.6	long leg	$4.2M	$2.0M	20x
Bullet GOLD-USD	+0.0206%	1h	4,347	+0.009%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,345.1	−0.035%	$204K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,343.4	−0.073%	$590K	$135K	25x	as long as short
Bitget XAUUSDT	+0.0276%	4h	4,345.2	−0.032%	$71.1M	$108.9M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0331%	8h	4,346	−0.014%	$167.3M	$283.4M	100x
BloFin XAU-USDT	+0.0360%	4h	4,346.2	−0.010%	$15.8M	$4.4M	100x	as long as short
HTX XAU-USDT	+0.0384%	4h	4,347.9	+0.030%	$2.8M	$4.6M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,346.9	+0.008%	$250K	—	111x	as long as short