Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.015%
Price spread now: SoDEX against Derive−0.014%181s7-day average +0.021% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.055%−$5 on $10k
+Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.014%, 7d avg +0.021%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.035% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.021%). Swap the legs. The two prices were read 181 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive XAUT-PERP | 4,306.3 | 0.0100 | pay 0.0013% / 1h | 53m 36s | $1.8M | $350K | 10x |
| Short | SoDEX XAUT-USD | 4,305.7 | 0.0050 | get 0.0006% / 1h | 53m 36s | $10.1M | $2.1M | 25x |
Derive XAUT-PERP
SoDEX XAUT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Derive. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: −0.014% → +0.021%
- −$3.49
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$27.99
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; SoDEX: live order book, just now. Net counts fees only.
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 Derive no order-book sample | — | — | — | — | — |
| Sell SoDEX live order book, just now | 0.12 bp | 4.1 bp −$4 | 4.9 bp −$49 | 41.9 bp −$4,194 | doesn't fit |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
XAUT on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAUTUSD | −0.0227% | 1h | 4,306.5 | +0.003% | $55K | $11K | 20x | as long as short |
| Bitget XAUTUSDT | −0.0068% | 4h | 4,308.2 | +0.044% | $27.4M | $20.7M | 75x | as long as short |
| Gate XAUT_USDT | 0.0000% | 8h | 4,310.1 | +0.088% | $130.4M | $9.2M | 100x | as long as short |
| Injective XAUT/USDC PERP | +0.0033% | 1h | 4,349.8 | +1.010% | $8K | $149K | 30x | as long as short |
| SoDEX XAUT-USDshort | +0.0050% | 1h | 4,305.7 | −0.014% | $10.1M | $2.1M | 25x | |
| MEXC XAUT_USDT | +0.0052% | 4h | 4,308.8 | +0.058% | $375.6M | $281.1M | 1000x | as long as short |
| Bybit XAUTUSDT | +0.0053% | 4h | 4,309 | +0.062% | $118.6M | $31.7M | 75x | as long as short |
| GRVT XAUT_USDT_Perp | +0.0070% | 4h | 4,303.2 | −0.073% | $508 | $110K | 10x | as long as short |
| Variational Omni XAUT | +0.0083% | 4h | 4,304.6 | −0.039% | $32.7M | $3.3M | — | as long as short |
| Nado XAUT-PERP | +0.0100% | 1h | 4,307 | +0.017% | $4.1M | $959K | 10x | as long as short |
Aftermath Perps XAUTUSD
Bitget XAUTUSDT
Gate XAUT_USDT
Injective XAUT/USDC PERP
MEXC XAUT_USDT
Bybit XAUTUSDT
GRVT XAUT_USDT_Perp
Variational Omni XAUT
Nado XAUT-PERPShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance XAUTUSDT | +0.0100% | 4h | 4,308.3 | +0.047% | $35.8M | $47.7M | 75x | as long as short |
| KuCoin XAUTUSDTM | +0.0100% | 4h | 4,310.4 | +0.095% | $12.0M | $3.3M | 75x | as long as short |
| BingX XAUT-USDT | +0.0100% | 4h | 4,309.1 | +0.064% | — | $19.6M | — | as long as short |
| Orderly PERP_XAUT_USDC_mythos | +0.0100% | 4h | 4,307.2 | +0.021% | $265 | $17K | 10x | as long as short |
| Derive XAUT-PERPlong | +0.0100% | 1h | 4,306.3 | long leg | $1.8M | $350K | 10x | |
| SunX XAUT-USDT | +0.0100% | 4h | 4,311.3 | +0.116% | $3K | $3.0M | 20x | as long as short |
| HTX XAUT-USDT | +0.0100% | 4h | 4,304.9 | −0.033% | $1.8M | $205K | 75x | as long as short |
| Extended XAUT-USD | +0.0104% | 1h | 4,307.5 | +0.028% | $265K | $198K | 25x | as long as short |
| Kraken Futures PF_XAUTUSD | +0.0290% | 1h | 4,309.3 | +0.068% | $5.8M | $5.4M | 50x | as long as short |
| BloFin XAUT-USDT | +0.0302% | 4h | 4,305.9 | −0.010% | $2.3M | $1.6M | 75x | as long as short |
Binance XAUTUSDT
KuCoin XAUTUSDTM
BingX XAUT-USDT
Orderly PERP_XAUT_USDC_mythos
SunX XAUT-USDT
HTX XAUT-USDT
Extended XAUT-USD
Kraken Futures PF_XAUTUSD
BloFin XAUT-USDT