XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0273%/8h= −29.9% APRnext payment −$0.34 per $10,000 · paid last 24h −0.044%

Price spread now: Deribit against GMX+0.063%66s7-day average −0.114% · you sell dearer than you buy

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.403%+$40 on $10k

Price spread, last 4 days (all we have)−0.105%−$11 · spread now +0.063%, 7d avg −0.114%

Together, before fees+0.297%+$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.177% dearer against GMX than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.114%): +$18 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.2 days. Mind the row above: over the last 4 days funding on this pair paid +0.403%, so the current rate has only just turned against you. The two prices were read 66 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	GMX GOLD/USD [ETH-USDC]	4,305.8	L +0.0464% / S −0.0312%	pay 0.0058% / 1h	21m 59s	$254K	—	111x
Short	Deribit GOLD_USDC-PERPETUAL	4,308.5	0.0191	get 0.0024% / 1h	21m 59s	$133K	$853K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$57.28
Price spread: +0.063% → −0.114%: $17.71
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$58.57
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 12 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 Deribit live order book, 12 min ago	1.86 bp	5.4 bp −$5	6.6 bp −$66	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
SunX XAU-USDT	0.0000%	4h	4,313.5	+0.179%	$92K	$6.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,305.5	−0.006%	$273K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.036%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,340.1	+0.796%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,308.3	+0.058%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,306	+0.005%	$290.8M	$54.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,305.5	−0.007%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,305.1	−0.017%	$15.0M	$55.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,300.9	−0.114%	$2.0M	$5.1M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,309.7	+0.090%	$73.5M	$271.5M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0058%	1h	4,302.9	−0.067%	$3.8M	$4.5M	40x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,308.9	+0.073%	$2K	$13K	5x	as long as short
Lighter XAU	+0.0080%	1h	4,308.7	+0.067%	$20.2M	$29.6M	25x	as long as short
Phoenix GOLD	+0.0095%	1h	4,298.2	−0.177%	$42K	$86K	25x	as long as short
Variational Omni XAU	+0.0095%	4h	4,295.8	−0.233%	$46.6M	$29.4M	—	as long as short
Extended XAU-USD	+0.0096%	1h	4,306.5	+0.016%	$12.9M	$36.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,305.2	−0.013%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,297.8	−0.186%	$273K	$219K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,311.2	+0.126%	$19.8M	$40.5M	25x	as long as short
Bybit XAUUSDT	+0.0111%	4h	4,311.3	+0.128%	$78.0M	$160.8M	150x	as long as short
MEXC XAU_USDT	+0.0112%	4h	4,310.4	+0.107%	$360.1M	$346.8M	1000x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,307	+0.029%	$160K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0113%	24h	4,310.2	+0.102%	$3.6M	$47.1M	15x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,294.8	−0.255%	$29.9M	$62.3M	50x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,310.1	+0.099%	$437.1M	$2.26B	100x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,308.8	+0.069%	$4.5M	$13.4M	25x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,302.9	−0.067%	$32K	—	25x	as long as short
GRVT XAU_USDT_Perp	+0.0142%	4h	4,299.3	−0.151%	$1.4M	$3.1M	25x	as long as short
Gate XAU_USDT	+0.0180%	4h	4,311.9	+0.141%	$302.1M	$435.8M	100x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0191%	1h	4,308.5	+0.063%	$133K	$853K	25x
Bullet GOLD-USD	+0.0197%	1h	4,309.5	+0.086%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0198%	4h	4,310.8	+0.117%	$70.1M	$127.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0250%	8h	4,310.7	+0.114%	$170.6M	$341.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,307.4	+0.038%	$573K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0412%	4h	4,305.5	−0.007%	$16.3M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]long	L +0.0464% / S −0.0312%	1h	4,305.8	long leg	$254K	—	111x
Phemex XAUUSDT	+0.0547%	4h	4,312.5	+0.156%	$2.2M	$987K	100x	as long as short
HTX XAU-USDT	+0.1185%	4h	4,313.5	+0.179%	$3.2M	$6.8M	75x	as long as short
Bluefin GOLD-PERP	+0.2566%	1h	4,303.2	−0.062%	$25K	$1K	20x	as long as short