Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0173%/8h= +19.0% APRpaid last 24h +0.133%

Price spread now: Phemex against Extended+0.141%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.336%+$34 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now +0.141%, 7d avg +0.091%

Together, before fees+0.457%+ Points / potential airdropExtended: Active · farm board+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phemex is 0.049% dearer against Extended than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XAU-USD	4,343	0.0032	pay 0.0004% / 1h	3m 31s	$13.4M	$38.7M	25x
Short	Phemex XAUUSDT	4,349.1	0.0205	get 0.0103% / 4h	1h 03m	$2.2M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.141%Rate

Funding earned: $36.35
Price spread: +0.141% → +0.091%: $4.93
Slippage, 4 orders: −$48.22
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$23.95
Costs to cover: 0.652%
Break-even: 11.6 days

Slippage from Extended: live order book, 6 min ago; Phemex: live order book, 5 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 Extended live order book, 6 min ago	0.12 bp	2.6 bp −$3	3.0 bp −$30	6.4 bp −$641	24.4 bp −$12.2K
Sell Phemex live order book, 5 min ago	2.19 bp	35.6 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
SunX XAU-USDT	0.0000%	4h	4,350.2	+0.164%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,344.4	+0.030%	$266K	—	250x	as long as short
Gate XAU_USDT	+0.0004%	4h	4,349.9	+0.159%	$264.4M	$418.1M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.1	+0.094%	$3.4M	$12.3M	25x	as long as short
Extended XAU-USDlong	+0.0032%	1h	4,343	long leg	$13.4M	$38.7M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.170%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.7	+0.061%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0041%	4h	4,348.4	+0.124%	$70.9M	$334.1M	20x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,344.5	+0.034%	$4.1M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.5	+0.863%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,346.8	+0.087%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,345.9	+0.066%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,342.3	−0.017%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.1	+0.047%	$293.9M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344	+0.022%	$15.1M	$56.8M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,348.1	+0.116%	$20.1M	$39.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,344.2	+0.027%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	+0.069%	$48.5M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0058%	4h	4,346.5	+0.080%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,348.1	+0.117%	$370.9M	$320.7M	1000x	as long as short
edgeX XAUUSDC	+0.0075%	4h	4,342.6	−0.011%	$30.2M	$58.6M	50x	as long as short
Binance XAUUSDT	+0.0076%	4h	4,348.3	+0.120%	$410.5M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,346.8	+0.086%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,344.6	+0.035%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.2	+0.004%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344.1	+0.024%	$274K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,347.5	+0.103%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	+0.068%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0193%	1h	4,348.3	+0.120%	$60K	$83K	10x	as long as short
Phemex XAUUSDTshort	+0.0205%	4h	4,349.1	+0.141%	$2.2M	$1.1M	100x
Bybit XAUUSDT	+0.0212%	4h	4,349.7	+0.153%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,347.6	+0.106%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0262%	8h	4,349.3	+0.144%	$165.4M	$283.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,342.5	−0.011%	$592K	$133K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0280%	1h	4,343.6	+0.013%	$268K	$767K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,347.2	+0.095%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0386%	1h	4,341.1	−0.046%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0406% / S −0.0221%	1h	4,348.3	+0.120%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0592%	4h	4,352.1	+0.208%	$2.9M	$4.2M	75x	as long as short