Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.008%

Price spread now: Phoenix against Aster−0.191%65s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.191% cheaper against Aster than usual: you would sell low and buy high (spread −0.191% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 23 days of funding at the current rate (+$1 a day). The two prices were read 65 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	Aster XAUUSD1	4,314.3	0.0067	pay 0.0034% / 4h	3h 50m	$73.3M	$272.1M	20x
Short	Phoenix GOLD	4,306.1	0.0095	get 0.0012% / 1h	50m 20s	$42K	$86K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.191%Rate

Funding earned: $5.75
Price spread: −0.191% → 0.000%: −$19.08
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$28.32
Costs to cover: 0.150%
Break-even: 41.5 days

Slippage unknown: Aster: live order book, 4 min ago; Phoenix: no order-book sample. 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 Aster live order book, 4 min ago	0.01 bp	5.2 bp −$5	6.4 bp −$64	23.0 bp −$2,297	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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.

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	−0.0024%	1h	4,308.4	−0.137%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,319.2	+0.113%	$92K	$6.9M	20x	as long as short
Phemex XAUUSDT	0.0000%	4h	4,316	+0.039%	$2.2M	$951K	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,310.6	−0.087%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.837%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,345.2	+0.716%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,312.3	−0.047%	$6.6M	$3.2M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,309.5	−0.112%	$291.4M	$54.4M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,309.2	−0.119%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,310.1	−0.097%	$15.0M	$55.9M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,310.6	−0.086%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,313.4	−0.021%	$2K	$14K	5x	as long as short
Aster XAUUSD1long	+0.0067%	4h	4,314.3	long leg	$73.3M	$272.1M	20x
Lighter RH XAU	+0.0072%	1h	4,315.6	+0.030%	$19.8M	$39.4M	25x	as long as short
Extended XAU-USD	+0.0072%	1h	4,310.5	−0.089%	$13.0M	$36.1M	25x	as long as short
Lighter XAU	+0.0088%	1h	4,313.7	−0.016%	$20.3M	$28.5M	25x	as long as short
Phoenix GOLDshort	+0.0095%	1h	4,306.1	−0.191%	$42K	$86K	25x
Pacifica XAU	+0.0100%	1h	4,310.5	−0.090%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,306.9	−0.172%	$270K	$214K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,308.5	−0.136%	$25K	$1K	20x	as long as short
Bybit XAUUSDT	+0.0104%	4h	4,314.3	−0.001%	$77.1M	$157.4M	150x	as long as short
Kalshi KXGOLDPERP	+0.0104%	24h	4,316.6	+0.053%	$3.7M	$46.1M	15x	as long as short
Variational Omni XAU	+0.0107%	4h	4,314.5	+0.005%	$46.7M	$29.3M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,312.8	−0.035%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,313.4	−0.022%	$359.8M	$333.1M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,313	−0.030%	$437.6M	$2.21B	100x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,313.6	−0.017%	$4.4M	$13.1M	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,307.3	−0.162%	$30.0M	$61.4M	50x	as long as short
StandX XAU-USD	+0.0165%	1h	4,313.9	−0.010%	$3.8M	$4.5M	40x	as long as short
Gate XAU_USDT	+0.0180%	4h	4,315.4	+0.024%	$295.3M	$420.8M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0191%	1h	4,314.7	+0.009%	$134K	$875K	25x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,313.5	−0.019%	$71.1M	$123.6M	100x	as long as short
Bullet GOLD-USD	+0.0217%	1h	4,313.7	−0.015%	$58K	$81K	10x	as long as short
GRVT XAU_USDT_Perp	+0.0218%	4h	4,310.8	−0.083%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0254%	8h	4,313.7	−0.015%	$170.4M	$326.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,312	−0.054%	$574K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0431%	4h	4,312.8	−0.036%	$16.4M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0313%	1h	4,314.2	−0.003%	$255K	—	111x	as long as short
HTX XAU-USDT	+0.1274%	4h	4,320.8	+0.149%	$3.2M	$6.2M	75x	as long as short