XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0355%/8h= +38.9% APRnext payment +$1.78 per $10,000 · paid last 24h +0.123%

Price spread now: Phemex against Bybit+0.093%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$600.602% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.093%, 7d avg +0.015%

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

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phemex is 0.079% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUUSDT	4,315.7	0.0062	pay 0.0031% / 4h	16m 45s	$77.7M	$154.3M	150x
Short	Phemex XAUUSDT	4,319.8	0.0418	get 0.0209% / 4h	16m 45s	$2.2M	$977K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.093%Rate

Funding earned: $74.65
Price spread: +0.093% → +0.015%: $7.87
Slippage, 4 orders: −$37.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: $22.3
Costs to cover: 0.602%
Break-even: 4.9 days

Slippage from Bybit: live order book, 2 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 Bybit live order book, 2 min ago	0.01 bp	5.5 bp −$6	6.2 bp −$62	9.2 bp −$922	36.7 bp −$18.3K
Sell Phemex live order book, 2 min ago	1.39 bp	25.2 bp −$25	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
SunX XAU-USDT	0.0000%	4h	4,319.8	+0.095%	$92K	$7.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,311.4	−0.100%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.804%	$619	$54	52x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,313.3	−0.056%	$32K	—	25x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,314.5	−0.028%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,347.8	+0.743%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,311.5	−0.098%	$290.7M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,311.1	−0.107%	$15.0M	$55.3M	25x	as long as short
StandX XAU-USD	+0.0056%	1h	4,319.2	+0.081%	$3.8M	$4.5M	40x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,316.4	+0.016%	$72.9M	$272.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin GOLD-PERP	+0.0062%	1h	4,309.4	−0.147%	$25K	$1K	20x	as long as short
Bybit XAUUSDTlong	+0.0062%	4h	4,315.7	long leg	$77.7M	$154.3M	150x
Paradex XAU-USD-PERP	+0.0063%	8h	4,314.1	−0.037%	$2K	$14K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,313.9	−0.043%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,312.3	−0.079%	$2.0M	$5.1M	25x	as long as short
Variational Omni XAU	+0.0095%	4h	4,317.1	+0.032%	$47.1M	$29.1M	—	as long as short
Kalshi KXGOLDPERP	+0.0096%	24h	4,317	+0.030%	$3.6M	$45.0M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,314.7	−0.024%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,311.6	−0.095%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.1	−0.014%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,316.2	+0.012%	$20.0M	$39.8M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,314.8	−0.021%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0106%	4h	4,315	−0.016%	$363.5M	$334.8M	1000x	as long as short
Binance XAUUSDT	+0.0108%	4h	4,315.1	−0.014%	$428.0M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0110%	4h	4,316.3	+0.014%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,317.3	+0.037%	$285.9M	$424.4M	100x	as long as short
Extended XAU-USD	+0.0112%	1h	4,311.1	−0.108%	$13.2M	$36.8M	25x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,311.5	−0.097%	$30.0M	$60.3M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,314.8	−0.020%	$70.1M	$119.9M	100x	as long as short
Bullet GOLD-USD	+0.0204%	1h	4,316	+0.006%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,315.6	−0.003%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,313	−0.063%	$574K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0260%	1h	4,314.4	−0.031%	$162K	$878K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0269%	8h	4,315.5	−0.005%	$174.8M	$301.8M	100x	as long as short
BloFin XAU-USDT	+0.0348%	4h	4,315.9	+0.004%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDTshort	+0.0418%	4h	4,319.8	+0.093%	$2.2M	$977K	100x
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,315.8	+0.002%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0507%	4h	4,323.7	+0.185%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,315.2	−0.013%	$4.5M	$13.4M	25x	as long as short