Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0033%/8h= +3.7% APRpaid last 24h +0.011%

Price spread now: Phoenix against Paradex−0.001%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Phoenix

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XAU-USD-PERP	4,314.8	0.0063	pay 0.0063% / 8h	17m 05s	$2K	$14K	5x
Short	Phoenix GOLD	4,314.7	0.0096	get 0.0012% / 1h	17m 05s	$42K	$79K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.001%Rate

Funding earned: $7
Price spread: −0.001% → 0.000%: −$0.13
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$4.12
Costs to cover: 0.110%
Break-even: 11.1 days

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Paradex and 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
SunX XAU-USDT	0.0000%	4h	4,319.8	+0.117%	$92K	$7.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,311.4	−0.078%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.827%	$619	$54	52x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,313.3	−0.034%	$32K	—	25x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,314.5	−0.006%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,347.8	+0.766%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,311.7	−0.071%	$290.7M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,311.9	−0.066%	$15.0M	$55.3M	25x	as long as short
StandX XAU-USD	+0.0056%	1h	4,319.2	+0.103%	$3.8M	$4.5M	40x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,316.5	+0.040%	$72.9M	$272.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin GOLD-PERP	+0.0062%	1h	4,309.4	−0.125%	$25K	$1K	20x	as long as short
Bybit XAUUSDT	+0.0062%	4h	4,316	+0.029%	$77.7M	$154.3M	150x	as long as short
Paradex XAU-USD-PERPlong	+0.0063%	8h	4,314.8	long leg	$2K	$14K	5x
Lighter XAU	+0.0072%	1h	4,314.4	−0.008%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,312.3	−0.057%	$2.0M	$5.1M	25x	as long as short
Variational Omni XAU	+0.0095%	4h	4,317.1	+0.055%	$47.1M	$29.1M	—	as long as short
Kalshi KXGOLDPERP	+0.0096%	24h	4,317	+0.052%	$3.6M	$45.0M	15x	as long as short
Phoenix GOLDshort	+0.0096%	1h	4,314.7	−0.001%	$42K	$79K	25x
Pacifica XAU	+0.0100%	1h	4,311.6	−0.073%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.1	+0.009%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,316.9	+0.049%	$20.0M	$39.8M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,314.8	+0.001%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0106%	4h	4,315.8	+0.024%	$363.6M	$334.8M	1000x	as long as short
Binance XAUUSDT	+0.0108%	4h	4,315.3	+0.012%	$428.0M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0110%	4h	4,316.3	+0.036%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,317.4	+0.062%	$285.8M	$424.2M	100x	as long as short
Extended XAU-USD	+0.0112%	1h	4,311.4	−0.078%	$13.2M	$36.8M	25x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,311.5	−0.075%	$30.0M	$60.3M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,315.3	+0.013%	$70.2M	$120.8M	100x	as long as short
Bullet GOLD-USD	+0.0204%	1h	4,316	+0.029%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,315.6	+0.020%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,313	−0.041%	$574K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0260%	1h	4,314.4	−0.008%	$162K	$878K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0269%	8h	4,315.6	+0.020%	$174.8M	$303.4M	100x	as long as short
BloFin XAU-USDT	+0.0348%	4h	4,315.9	+0.026%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0418%	4h	4,319.8	+0.116%	$2.2M	$977K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,315.8	+0.025%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0507%	4h	4,323.7	+0.208%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,315.2	+0.010%	$4.5M	$13.4M	25x	as long as short