XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0034%/8h= −3.7% APRnext payment −$0.17 per $10,000 · paid last 24h +0.086%

Price spread now: Phemex against Bitget+0.057%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$750.755% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now +0.057%, 7d avg +0.025%

Together, before fees+0.208%+$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.031% dearer against Bitget than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of +0.025%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.182%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,351.2	0.0236	pay 0.0118% / 4h	24m 17s	$70.0M	$109.3M	100x
Short	Phemex XAUUSDT	4,353.7	0.0202	get 0.0101% / 4h	24m 17s	$2.2M	$967K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$7.09
Price spread: +0.057% → +0.025%: $3.13
Slippage, 4 orders: −$51.48
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$79.44
Costs to cover: 0.755%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 4 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 Bitget live order book, 5 min ago	0.01 bp	6.2 bp −$6	7.6 bp −$76	11.2 bp −$1,119	doesn't fit
Sell Phemex live order book, 4 min ago	1.67 bp	35.8 bp −$36	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
RISEx XAU/USDC	0.0000%	1h	4,350.9	−0.006%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,355.2	+0.092%	$93K	$8.9M	20x	as long as short
Gate XAU_USDT	+0.0002%	4h	4,351.9	+0.016%	$266.5M	$414.4M	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,347	−0.096%	$271K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,350.1	−0.026%	$20.8M	$38.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,347	−0.096%	$13.2M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.018%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,352.2	+0.023%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.7	−0.012%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,350.4	−0.019%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,384.2	+0.758%	—	$1.1M	25x	as long as short
Kalshi KXGOLDPERP	+0.0047%	24h	4,349.5	−0.039%	$4.2M	$37.3M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,347.6	−0.083%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.6	−0.083%	$293.9M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,347.1	−0.094%	$15.1M	$56.9M	25x	as long as short
Aster XAUUSD1	+0.0066%	4h	4,352.1	+0.020%	$71.1M	$333.8M	20x	as long as short
Variational Omni XAU	+0.0078%	4h	4,351	−0.005%	$48.4M	$27.9M	—	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,350.9	−0.008%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,351.4	+0.005%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,351	−0.006%	$372.9M	$318.1M	1000x	as long as short
Binance XAUUSDT	+0.0093%	4h	4,351	−0.006%	$413.5M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,347.6	−0.083%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,348.2	−0.070%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,345.2	−0.139%	$25K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,350.5	−0.015%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0108%	4h	4,344.5	−0.154%	$30.2M	$58.0M	50x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,347.8	−0.078%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0142%	1h	4,348.4	−0.065%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0158%	1h	4,351.2	0.000%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0193%	1h	4,350.9	−0.007%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,348.2	−0.070%	$593K	$132K	25x	as long as short
Phemex XAUUSDTshort	+0.0202%	4h	4,353.7	+0.057%	$2.2M	$967K	100x
Bitget XAUUSDTlong	+0.0236%	4h	4,351.2	long leg	$70.0M	$109.3M	100x
Bybit XAUUSDT	+0.0244%	4h	4,352.2	+0.024%	$85.3M	$144.8M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0279%	1h	4,349.8	−0.032%	$206K	$822K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0293%	8h	4,352.8	+0.037%	$165.8M	$281.5M	100x	as long as short
BloFin XAU-USDT	+0.0335%	4h	4,351.3	+0.003%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0416% / S −0.0234%	1h	4,350.9	−0.007%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0624%	4h	4,356.2	+0.114%	$2.9M	$4.3M	75x	as long as short