Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.121%

Price spread now: Phemex against ApeX Omni+0.099%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$910.913% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.099%, 7d avg +0.072%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phemex is 0.027% dearer against ApeX Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,372.7	0.0100	pay 0.0013% / 1h	51m 15s	$277K	$204K	50x
Short	Phemex XAUUSDT	4,377	0.0308	get 0.0154% / 4h	3h 51m	$2.2M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now +0.099%Rate

Funding earned: $43.7
Price spread: +0.099% → +0.072%: $2.68
Slippage, 4 orders: −$69.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$44.93
Costs to cover: 0.913%
Break-even: 14.2 days

Slippage from ApeX Omni: live order book, 21 min ago; Phemex: 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 ApeX Omni live order book, 21 min ago	4.79 bp	15.6 bp −$16	25.6 bp −$256	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.54 bp	27.9 bp −$28	doesn't fit	doesn't fit	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
Hotstuff GOLD-PERP	−0.0032%	1h	4,372.8	+0.003%	$33K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0019%	1h	4,367.9	−0.110%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,375.4	+0.061%	$72.0M	$211.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.3	+0.059%	$410.1M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376	+0.075%	$266.6M	$408.2M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.3	+0.059%	$374.3M	$321.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,375.2	+0.057%	$69.7M	$114.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,374.3	+0.038%	$48.7M	$27.9M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,373.1	+0.009%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,379.3	+0.150%	$93K	$10.4M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.2	−0.034%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0007%	4h	4,369.8	−0.066%	$30.4M	$60.0M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.509%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.1	+0.078%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.055%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.6	+0.844%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375	+0.053%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.4	−0.030%	$294.7M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,370.1	−0.059%	$14.7M	$57.1M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,373.6	+0.021%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,376.1	+0.079%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.5	+0.041%	$20.8M	$43.3M	25x	as long as short
Lighter RH XAU	+0.0072%	1h	4,376.9	+0.095%	$20.2M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,373.2	+0.011%	$162K	$87	10x	as long as short
Bybit XAUUSDT	+0.0083%	4h	4,375.9	+0.074%	$83.1M	$144.3M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0096%	1h	4,373.5	+0.019%	$4.3M	$1.8M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,371.1	−0.036%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.9	+0.005%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,372.7	long leg	$277K	$204K	50x
Extended XAU-USD	+0.0104%	1h	4,371.1	−0.037%	$13.3M	$44.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0116%	1h	4,373.4	+0.016%	$236K	$655K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0167%	8h	4,376.6	+0.089%	$160.8M	$280.5M	100x	as long as short
Bullet GOLD-USD	+0.0194%	1h	4,375.2	+0.057%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,372.3	−0.008%	$596K	$154K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0234%	4h	4,375.8	+0.071%	$1.4M	$3.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,375.2	+0.058%	$14.8M	$4.6M	100x	as long as short
Phemex XAUUSDTshort	+0.0308%	4h	4,377	+0.099%	$2.2M	$1.1M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.2	+0.058%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.0521%	4h	4,379.2	+0.149%	$2.9M	$3.8M	75x	as long as short