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: OKX against RISEx+0.074%46s7-day average +0.009% · 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—prices read too far apart to compare

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

Long on RISEx Short on OKX

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−0.081%−$8 · spread now +0.074%, 7d avg +0.009%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and OKX is 0.065% dearer against RISEx than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.009%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

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	RISEx XAU/USDC	4,341.2	0.0005	pay 0.0001% / 1h	36m 54s	$3.5M	$12.1M	25x
Short	OKX XAU-USDT-SWAP	4,344.4	0.0319	get 0.0319% / 8h	3h 36m	$166.8M	$281.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against RISEx. 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 RISExbpFee OKXbpOrdersPrice spread, now +0.074%Rate

Funding earned: $65.98
Price spread: +0.074% → +0.009%: $6.55
Slippage, 4 orders: −$1.22
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: $55.3
Costs to cover: 0.172%
Break-even: 1.1 days

Slippage from RISEx: live order book, 2 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 RISEx live order book, 2 min ago	0.01 bp	3.0 bp −$3	3.0 bp −$30	34.4 bp −$3,443	doesn't fit
Sell OKX live order book, 2 min ago	0.12 bp	5.1 bp −$5	5.5 bp −$55	6.8 bp −$680	12.8 bp −$6,380

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	+0.150%	$92K	$8.7M	20x	as long as short
Bluefin GOLD-PERP	+0.0002%	1h	4,335.5	−0.131%	$25K	$14K	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,339.5	−0.038%	$271K	—	250x	as long as short
RISEx XAU/USDClong	+0.0005%	1h	4,341.2	long leg	$3.5M	$12.1M	25x
Hotstuff GOLD-PERP	+0.0016%	1h	4,338.7	−0.057%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,339.2	−0.045%	$13.3M	$37.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.213%	$619	$54	52x	as long as short
Gate XAU_USDT	+0.0038%	4h	4,344.8	+0.084%	$268.0M	$414.6M	100x	as long as short
Lighter RH XAU	+0.0040%	1h	4,344.3	+0.071%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.9	+0.017%	$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	4,343.4	+0.051%	$80.2M	$152.2M	150x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	−0.020%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.1	+0.781%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,342.1	+0.021%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.8	−0.032%	$293.6M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.7	−0.058%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339	−0.050%	$4.3M	$37.4M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	−0.039%	$2.1M	$4.8M	25x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,344.5	+0.077%	$71.5M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,341.7	+0.012%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,340.5	−0.017%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,338.1	−0.071%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.5	−0.084%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,343.3	+0.050%	$370.4M	$319.4M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342	+0.020%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0107%	4h	4,343.1	+0.043%	$417.6M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,336.6	−0.104%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.5	−0.039%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0178%	4h	4,341.1	−0.001%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343.1	+0.045%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,342.6	+0.033%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0250%	4h	4,343.2	+0.046%	$71.1M	$109.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,341.7	+0.012%	$205K	$828K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	−0.021%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0294%	4h	4,345.1	+0.090%	$2.2M	$967K	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0319%	8h	4,344.4	+0.074%	$166.8M	$281.9M	100x
BloFin XAU-USDT	+0.0379%	4h	4,343	+0.041%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,343.7	+0.058%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0618%	4h	4,346.4	+0.120%	$2.8M	$4.6M	75x	as long as short