Funding you earn now, next payment 21:00 UTC+0.0284%/8h= +31.0% APRnext payment +$0.35 per $10,000 · paid last 24h −0.059%
Price spread now: Phoenix against Kraken Futures−0.056%71s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.103%−$10 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 0.056% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 16 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.103%, so the current rate has only just turned in your favour. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.103% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 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 | Kraken Futures PF_XAUUSD | 4,350.5 | −0.0175 | get 0.0022% / 1h | 48m 08s | $600K | $160K | 25x |
| Short | Phoenix GOLD | 4,348.1 | 0.0109 | get 0.0014% / 1h | 48m 08s | $47K | $65K | 25x |
Kraken Futures PF_XAUUSD
Phoenix GOLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kraken Futures. 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
- $59.54
- Price spread: −0.056% → 0.000%
- −$5.58
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $36.97
- Costs to cover
- 0.170%
- Break-even
- 2.7 days
Slippage unknown: Kraken Futures: live order book, 35 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 Kraken Futures live order book, 35 min ago | 2.74 bp | 8.2 bp −$8 | 15.0 bp −$150 | doesn't fit | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XAUUSDlong | −0.0175% | 1h | 4,350.5 | long leg | $600K | $160K | 25x | |
| tradeXYZ xyz:GOLD | −0.0069% | 1h | 4,348.4 | −0.049% | $292.8M | $53.5M | 25x | as long as short |
| Hotstuff GOLD-PERP | −0.0008% | 1h | 4,347.8 | −0.063% | $33K | — | 25x | as long as short |
| Aster XAUUSD1 | 0.0000% | 4h | 4,353 | +0.057% | $71.3M | $238.6M | 20x | as long as short |
| Binance XAUUSDT | 0.0000% | 4h | 4,352.8 | +0.052% | $410.0M | $2.09B | 100x | as long as short |
| Bybit XAUUSDT | 0.0000% | 4h | 4,353.3 | +0.063% | $82.5M | $141.8M | 150x | as long as short |
| RISEx XAU/USDC | 0.0000% | 1h | 4,353 | +0.057% | $3.4M | $12.6M | 25x | as long as short |
| Gate XAU_USDT | 0.0000% | 4h | 4,353.7 | +0.073% | $271.1M | $406.8M | 100x | as long as short |
| MEXC XAU_USDT | 0.0000% | 4h | 4,352.8 | +0.052% | $375.6M | $349.0M | 1000x | as long as short |
| Bitget XAUUSDT | 0.0000% | 4h | 4,353.3 | +0.063% | $67.3M | $110.8M | 100x | as long as short |
tradeXYZ xyz:GOLD
Hotstuff GOLD-PERP
Aster XAUUSD1
Binance XAUUSDT
Bybit XAUUSDT
RISEx XAU/USDC
Gate XAU_USDT
MEXC XAU_USDT
Bitget XAUUSDTShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni XAU | 0.0000% | 4h | 4,351.3 | +0.018% | $47.9M | $32.5M | — | as long as short |
| GRVT XAU_USDT_Perp | 0.0000% | 4h | 4,352.5 | +0.045% | $1.4M | $3.2M | 25x | as long as short |
| Kalshi KXGOLDPERP | 0.0000% | 24h | 4,351.1 | +0.013% | $3.9M | $34.0M | 15x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,357 | +0.148% | $93K | $10.7M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,349.2 | −0.030% | $267K | — | 10x | as long as short |
| QFEX GOLD-USD | +0.0002% | 1h | 4,352 | +0.034% | $5.5M | $1.9M | 20x | as long as short |
| edgeX XAUUSDC | +0.0014% | 4h | 4,346.6 | −0.091% | $30.3M | $58.2M | 50x | as long as short |
| Lighter XAU | +0.0032% | 1h | 4,351.2 | +0.016% | $20.8M | $43.3M | 25x | as long as short |
| Lighter RH XAU | +0.0032% | 1h | 4,353 | +0.057% | $20.2M | $41.1M | 25x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,349.4 | −0.027% | $13.0M | $49.6M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | −0.002% | $619 | $54 | 52x | as long as short |
| HTX XAU-USDT | +0.0033% | 4h | 4,356.9 | +0.147% | $2.8M | $3.8M | 75x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,350.4 | −0.003% | $3.8M | $4.7M | 40x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,386.9 | +0.836% | — | $995K | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0050% | 1h | 4,351.6 | +0.025% | $4.3M | $1.7M | 20x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,349 | −0.035% | $14.5M | $55.3M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0050% | 8h | 4,353.3 | +0.064% | $19K | $6K | 5x | as long as short |
| Aevo XAU-PERP | +0.0080% | 1h | 4,351.9 | +0.032% | $161K | $87 | 10x | as long as short |
| Bullet GOLD-USD | +0.0086% | 1h | 4,352.8 | +0.053% | $59K | $84K | 10x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,349.7 | −0.019% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,347.4 | −0.073% | $273K | $204K | 50x | as long as short |
| Bluefin GOLD-PERP | +0.0100% | 1h | 4,392.7 | +0.969% | $26K | $21K | 20x | as long as short |
| Phoenix GOLDshort | +0.0109% | 1h | 4,348.1 | −0.056% | $47K | $65K | 25x | |
| Deribit GOLD_USDC-PERPETUAL | +0.0118% | 1h | 4,351.2 | +0.016% | $221K | $853K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0164% | 8h | 4,353.5 | +0.068% | $158.5M | $268.4M | 100x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0208% | 1h | 4,350 | −0.012% | $2.0M | $5.1M | 25x | as long as short |
| BloFin XAU-USDT | +0.0240% | 4h | 4,352.7 | +0.050% | $14.7M | $4.3M | 100x | as long as short |
| Phemex XAUUSDT | +0.0322% | 4h | 4,354.1 | +0.083% | $2.2M | $1.1M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0450% / S −0.0246% | 1h | 4,352.8 | +0.052% | $251K | — | 29x | as long as short |
Variational Omni XAU
GRVT XAU_USDT_Perp
Kalshi KXGOLDPERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
QFEX GOLD-USD
edgeX XAUUSDC
Lighter XAU
Lighter RH XAU
Extended XAU-USD
Injective XAU/USDC PERP
HTX XAU-USDT
StandX XAU-USD
Vest GC-PERP
Polymarket Perps GOLD-USD
Ondo Perps XAU-USD.P
Paradex XAU-USD-PERP
Aevo XAU-PERP
Bullet GOLD-USD
Pacifica XAU
ApeX Omni XAUUSDT
Bluefin GOLD-PERP
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
Coinbase International GOLD-PERP-INTX
BloFin XAU-USDT
Phemex XAUUSDT
GMX GOLD/USD [ETH-USDC]