Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0293%/8h= +32.0% APRpaid last 24h +0.127%

Price spread now: Phemex against Pacifica+0.139%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$720.722% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.268%+$27 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.139%, 7d avg +0.110%

Together, before fees+0.292%+ Points / potential airdropPacifica: Active · farm board+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.029% dearer against Pacifica than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XAU	4,322.4	0.0100	pay 0.0013% / 1h	56m 24s	$1.4M	$1.2M	10x
Short	Phemex XAUUSDT	4,328.4	0.0393	get 0.0196% / 4h	1h 56m	$2.2M	$961K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.139%Rate

Funding earned: $61.46
Price spread: +0.139% → +0.110%: $2.91
Slippage, 4 orders: −$52.22
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$7.85
Costs to cover: 0.722%
Break-even: 7.9 days

Slippage from Pacifica: live order book, 3 min ago; Phemex: live order book, 2 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 Pacifica live order book, 3 min ago	0.12 bp	5.3 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.81 bp	24.3 bp −$24	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
Bluefin GOLD-PERP	−0.0056%	1h	4,319.9	−0.057%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,329.7	+0.169%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,322.4	+0.001%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0008%	4h	4,326.6	+0.097%	$77.8M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,322.6	+0.003%	$13.1M	$36.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.648%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.6	+0.143%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,326	+0.083%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,359	+0.847%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,325.2	+0.065%	$20.4M	$30.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOLD-PERP	+0.0048%	1h	4,323.4	+0.023%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,323.4	+0.023%	$291.6M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,323.2	+0.019%	$15.0M	$56.1M	25x	as long as short
Kalshi KXGOLDPERP	+0.0066%	24h	4,326	+0.083%	$3.9M	$42.6M	15x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,326.5	+0.095%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0070%	4h	4,328.6	+0.144%	$1.4M	$3.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,324.2	+0.042%	$2.1M	$4.8M	25x	as long as short
Gate XAU_USDT	+0.0074%	4h	4,328.3	+0.136%	$272.6M	$404.2M	100x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,327.5	+0.118%	$72.4M	$319.8M	20x	as long as short
Variational Omni XAU	+0.0086%	4h	4,328.3	+0.137%	$46.8M	$28.8M	—	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,327.2	+0.110%	$363.8M	$324.0M	1000x	as long as short
Lighter RH XAU	+0.0096%	1h	4,327.8	+0.124%	$19.8M	$38.2M	25x	as long as short
Binance XAUUSDT	+0.0096%	4h	4,326.5	+0.096%	$412.9M	$2.12B	100x	as long as short
Pacifica XAUlong	+0.0100%	1h	4,322.4	long leg	$1.4M	$1.2M	10x
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.3	+0.114%	$272K	$208K	50x	as long as short
edgeX XAUUSDC	+0.0102%	4h	4,324.1	+0.040%	$30.1M	$60.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.8	+0.080%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,324.8	+0.056%	$47K	$79K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,323.5	+0.024%	$589K	$130K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,327.5	+0.119%	$3.8M	$12.5M	25x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,327.1	+0.109%	$59K	$82K	10x	as long as short
HTX XAU-USDT	+0.0205%	4h	4,329.4	+0.162%	$2.8M	$4.9M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0211%	1h	4,326.6	+0.097%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,326	+0.082%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0305%	1h	4,324.9	+0.058%	$193K	$829K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0318%	8h	4,326.6	+0.097%	$170.2M	$297.4M	100x	as long as short
BloFin XAU-USDT	+0.0336%	4h	4,325	+0.060%	$16.0M	$4.4M	100x	as long as short
Phemex XAUUSDTshort	+0.0393%	4h	4,328.4	+0.139%	$2.2M	$961K	100x
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,327.1	+0.109%	$253K	—	111x	as long as short