Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h −0.009%

Price spread now: Phoenix against HTX−0.163%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.163% cheaper against HTX than usual: you would sell low and buy high (spread −0.163% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 11 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.048% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,350.6	0.0059	pay 0.0030% / 4h	2h 12m	$2.8M	$3.8M	75x
Short	Phoenix GOLD	4,343.5	0.0109	get 0.0014% / 1h	12m 17s	$47K	$69K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.163%Rate

Funding earned: $10.35
Price spread: −0.163% → 0.000%: −$16.32
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$24.97
Costs to cover: 0.190%
Break-even: 23.9 days

Slippage unknown: HTX: live order book, 2 min ago; Phoenix: no order-book sample. 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 HTX live order book, 2 min ago	0.01 bp	10.7 bp −$11	13.6 bp −$136	19.9 bp −$1,991	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 38 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	−0.0379%	1h	4,334.7	−0.365%	$26K	$21K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,345.2	−0.124%	$70.8M	$241.0M	20x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,342.5	−0.187%	$82.6M	$144.9M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,343.4	−0.165%	$273.2M	$413.4M	100x	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,344.7	−0.135%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,343.8	−0.156%	$3.9M	$34.1M	15x	as long as short
Bullet GOLD-USD	0.0000%	1h	4,342.2	−0.193%	$58K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,346.4	−0.097%	$92K	$10.9M	20x	as long as short
Bitget XAUUSDT	+0.0018%	4h	4,342.6	−0.185%	$67.1M	$114.0M	100x	as long as short
Binance XAUUSDT	+0.0025%	4h	4,342.3	−0.191%	$415.6M	$2.12B	100x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XAU_USDT	+0.0028%	4h	4,340.9	−0.223%	$372.9M	$349.5M	1000x	as long as short
Lighter XAU	+0.0032%	1h	4,341.2	−0.216%	$20.7M	$46.8M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,344.1	−0.149%	$20.2M	$45.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344.1	−0.149%	$13.2M	$51.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.004%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.8	−0.156%	$3.8M	$4.7M	40x	as long as short
Variational Omni XAU	+0.0046%	4h	4,343.7	−0.160%	$47.8M	$34.0M	—	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.3	+0.729%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.7	−0.251%	$293.1M	$52.7M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,342.1	−0.195%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.1	−0.219%	$14.8M	$54.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0051%	8h	4,342.6	−0.183%	$19K	$6K	5x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,342.5	−0.186%	$5.5M	$1.9M	20x	as long as short
HTX XAU-USDTlong	+0.0059%	4h	4,350.6	long leg	$2.8M	$3.8M	75x
edgeX XAUUSDC	+0.0066%	4h	4,338.8	−0.271%	$30.2M	$57.7M	50x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,338.3	−0.283%	$2.0M	$5.2M	25x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,342	−0.198%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.7	−0.205%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.3	−0.305%	$272K	$204K	50x	as long as short
Phoenix GOLDshort	+0.0109%	1h	4,343.5	−0.163%	$47K	$69K	25x
BloFin XAU-USDT	+0.0165%	4h	4,344.2	−0.147%	$14.8M	$4.3M	100x	as long as short
Hotstuff GOLD-PERP	+0.0184%	1h	4,339.8	−0.248%	$33K	—	25x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,343	−0.175%	$3.4M	$12.6M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0208%	8h	4,343.5	−0.163%	$157.9M	$275.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0333%	1h	4,341.2	−0.217%	$599K	$139K	25x	as long as short
Phemex XAUUSDT	+0.0375%	4h	4,345.6	−0.116%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0495% / S −0.0311%	1h	4,342.1	−0.194%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0834%	1h	4,340.7	−0.228%	$221K	$891K	25x	as long as short