Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h +0.130%

Price spread now: Phemex against Paradex+0.021%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.021% dearer against Paradex than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XAU-USD-PERP	4,376.2	0.0067	pay 0.0067% / 8h	7h 52m	$19K	$5K	5x
Short	Phemex XAUUSDT	4,377.1	0.0126	get 0.0063% / 4h	3h 52m	$2.2M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now +0.021%Rate

Funding earned: $12.54
Price spread: +0.021% → 0.000%: $2.11
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1.35
Costs to cover: 0.160%
Break-even: 7.8 days

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 6 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	2.15 bp	37.0 bp −$37	doesn't fit	doesn't fit	doesn't fit

Paradex: 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
Aster XAUUSD1	0.0000%	4h	4,376.2	−0.001%	$72.0M	$212.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.8	−0.008%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.8	+0.013%	$266.8M	$407.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,376	−0.005%	$374.5M	$320.8M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,376.1	−0.003%	$69.7M	$114.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,377.8	+0.037%	$48.7M	$28.0M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,373.7	−0.057%	$4.0M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,381.2	+0.115%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,372.5	−0.085%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,367.4	−0.200%	$30.4M	$59.6M	50x	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	+0.0024%	1h	4,371.7	−0.102%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.589%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.1	−0.002%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.6	−0.013%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,411.2	+0.800%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.9	−0.005%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.8	−0.077%	$294.8M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.1	−0.116%	$14.7M	$57.1M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,373.6	−0.059%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERPlong	+0.0067%	8h	4,376.2	long leg	$19K	$5K	5x
Lighter XAU	+0.0072%	1h	4,374.9	−0.030%	$20.8M	$43.2M	25x	as long as short
Lighter RH XAU	+0.0072%	1h	4,377.8	+0.037%	$20.2M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,374.4	−0.041%	$162K	$87	10x	as long as short
Bluefin GOLD-PERP	+0.0092%	1h	4,368.4	−0.177%	$26K	$22K	20x	as long as short
Extended XAU-USD	+0.0096%	1h	4,372	−0.095%	$13.3M	$44.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,374.1	−0.047%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.079%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,375.3	−0.019%	$278K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0103%	1h	4,376.2	+0.001%	$4.3M	$1.8M	20x	as long as short
Bybit XAUUSDT	+0.0119%	4h	4,376.7	+0.013%	$83.1M	$144.3M	150x	as long as short
Phemex XAUUSDTshort	+0.0126%	4h	4,377.1	+0.021%	$2.2M	$1.1M	100x
OKX XAU-USDT-SWAP	+0.0166%	8h	4,377.3	+0.026%	$161.0M	$280.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0184%	1h	4,375.1	−0.025%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0194%	1h	4,376.5	+0.007%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0224%	1h	4,374	−0.050%	$596K	$154K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,376.6	+0.010%	$14.8M	$4.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0244%	4h	4,378.5	+0.052%	$1.4M	$3.1M	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376.5	+0.008%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0567%	4h	4,380.6	+0.101%	$2.9M	$3.8M	75x	as long as short