Funding you earn now, next payment 06:00 UTC−0.0390%/8h= −42.7% APRnext payment −$0.49 per $10,000 · paid last 24h −0.083%
Price spread now: Coinbase International against GMX−0.138%7-day average −0.105% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.114%+$11 on $10k
+Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.138%, 7d avg −0.105%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Coinbase International is 0.033% cheaper against GMX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.105%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.114%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.114% in total (about 12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.49 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX GOLD/USD [ETH-USDC] | 4,323 | L +0.0462% / S −0.0307% | pay 0.0058% / 1h | 1m 28s | $252K | — | 111x |
| Short | Coinbase International GOLD-PERP-INTX | 4,317 | 0.0072 | get 0.0009% / 1h | 1m 28s | $2.1M | $4.9M | 25x |
GMX GOLD/USD [ETH-USDC]
Coinbase International GOLD-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$81.87
- Price spread: −0.138% → −0.105%
- −$3.31
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$107.18
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Coinbase International: live order book, 2 min ago. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 2 min ago | 0.12 bp | 5.1 bp −$5 | 7.1 bp −$71 | doesn't fit | doesn't fit |
GMX: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin GOLD-PERP | −0.0040% | 1h | 4,315.8 | −0.165% | $25K | $1K | 20x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,326.9 | +0.091% | $92K | $7.6M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,318.7 | −0.100% | $270K | — | 250x | as long as short |
| Hotstuff GOLD-PERP | +0.0008% | 1h | 4,318.3 | −0.108% | $32K | — | 25x | as long as short |
| Bybit XAUUSDT | +0.0026% | 4h | 4,323.3 | +0.008% | $76.9M | $154.2M | 150x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.635% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,324.7 | +0.040% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,321.7 | −0.030% | $5.4M | $2.0M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,354.4 | +0.727% | — | $1.0M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,318.6 | −0.101% | $291.3M | $51.6M | 25x | as long as short |
Bluefin GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Hotstuff GOLD-PERP
Bybit XAUUSDT
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
tradeXYZ xyz:GOLDShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,318.2 | −0.112% | $15.0M | $55.7M | 25x | as long as short |
| Aster XAUUSD1 | +0.0060% | 4h | 4,323.9 | +0.020% | $72.7M | $273.2M | 20x | as long as short |
| Lighter XAU | +0.0064% | 1h | 4,321.4 | −0.036% | $20.3M | $30.8M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTXshort | +0.0072% | 1h | 4,317 | −0.138% | $2.1M | $4.9M | 25x | |
| Paradex XAU-USD-PERP | +0.0075% | 8h | 4,321.7 | −0.030% | $2K | $14K | 5x | as long as short |
| Kalshi KXGOLDPERP | +0.0084% | 24h | 4,323 | 0.000% | $3.8M | $44.2M | 15x | as long as short |
| Variational Omni XAU | +0.0093% | 4h | 4,322.6 | −0.009% | $47.2M | $29.1M | — | as long as short |
| MEXC XAU_USDT | +0.0098% | 4h | 4,322.3 | −0.015% | $365.0M | $336.6M | 1000x | as long as short |
| GRVT XAU_USDT_Perp | +0.0098% | 4h | 4,322 | −0.022% | $1.4M | $3.0M | 25x | as long as short |
| edgeX XAUUSDC | +0.0100% | 4h | 4,317.4 | −0.129% | $30.1M | $60.0M | 50x | as long as short |
| Phoenix GOLD | +0.0100% | 1h | 4,317.3 | −0.132% | $47K | $79K | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,318.8 | −0.097% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,320.4 | −0.060% | $272K | $208K | 50x | as long as short |
| Binance XAUUSDT | +0.0101% | 4h | 4,322.3 | −0.015% | $423.4M | $2.14B | 100x | as long as short |
| Gate XAU_USDT | +0.0104% | 4h | 4,323.9 | +0.021% | $279.2M | $426.7M | 100x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,321.2 | −0.042% | $160K | $87 | 10x | as long as short |
| Lighter RH XAU | +0.0112% | 1h | 4,323.9 | +0.022% | $20.0M | $39.5M | 25x | as long as short |
| Extended XAU-USD | +0.0136% | 1h | 4,318.1 | −0.113% | $12.9M | $36.4M | 25x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0153% | 1h | 4,319.9 | −0.071% | $577K | $136K | 25x | as long as short |
| RISEx XAU/USDC | +0.0184% | 1h | 4,324.2 | +0.028% | $4.1M | $12.8M | 25x | as long as short |
| Bullet GOLD-USD | +0.0188% | 1h | 4,322.9 | −0.002% | $59K | $82K | 10x | as long as short |
| Bitget XAUUSDT | +0.0210% | 4h | 4,322.4 | −0.013% | $67.6M | $118.6M | 100x | as long as short |
| Polymarket Perps GOLD-USD | +0.0219% | 1h | 4,322.2 | −0.018% | $4.3M | $2.0M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0259% | 1h | 4,321.1 | −0.044% | $163K | $869K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0296% | 8h | 4,322.5 | −0.011% | $173.3M | $301.1M | 100x | as long as short |
| HTX XAU-USDT | +0.0327% | 4h | 4,327.9 | +0.113% | $3.2M | $5.8M | 75x | as long as short |
| BloFin XAU-USDT | +0.0339% | 4h | 4,322.3 | −0.016% | $16.3M | $4.6M | 100x | as long as short |
| Phemex XAUUSDT | +0.0353% | 4h | 4,325.1 | +0.049% | $2.2M | $976K | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC]long | L +0.0462% / S −0.0307% | 1h | 4,323 | long leg | $252K | — | 111x |
Ondo Perps XAU-USD.P
Aster XAUUSD1
Lighter XAU
Paradex XAU-USD-PERP
Kalshi KXGOLDPERP
Variational Omni XAU
MEXC XAU_USDT
GRVT XAU_USDT_Perp
edgeX XAUUSDC
Phoenix GOLD
Pacifica XAU
ApeX Omni XAUUSDT
Binance XAUUSDT
Gate XAU_USDT
Aevo XAU-PERP
Lighter RH XAU
Extended XAU-USD
Kraken Futures PF_XAUUSD
RISEx XAU/USDC
Bullet GOLD-USD
Bitget XAUUSDT
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
HTX XAU-USDT
BloFin XAU-USDT
Phemex XAUUSDT