Funding you earn now, next payment 08:00 UTC−0.0241%/8h= −26.4% APRnext payment −$1.21 per $10,000 · paid last 24h −0.122%
Price spread now: Binance against Phemex+0.002%7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$71as in the Price arb table
costs, in and out, $10k−$750.745% of the position
Funding, last 7 days−0.238%−$24 on $10k
+Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.002%, 7d avg −0.032%
=The price spread pays, funding is against you. Binance is 0.034% dearer against Phemex than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.032%): +$3 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.238% in total) that is about 24 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex XAUUSDT | 4,336.9 | 0.0362 | pay 0.0181% / 4h | 2h 30m | $2.2M | $960K | 100x |
| Short | Binance XAUUSDT | 4,336.9 | 0.0121 | get 0.0060% / 4h | 2h 30m | $417.7M | $2.13B | 100x |
Phemex XAUUSDT
Binance XAUUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- −$50.63
- Price spread: +0.002% → −0.032%
- $3.39
- Slippage, 4 orders
- −$52.51
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$121.75
- Costs to cover
- 0.745%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; Binance: live order book, 13 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 Phemex live order book, 3 min ago | 0.05 bp | 34.4 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 6.7 bp −$674 | 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX XAU-USDT | 0.0000% | 4h | 4,337.8 | +0.022% | $92K | $8.4M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,330.3 | −0.151% | $271K | — | 250x | as long as short |
| Bluefin GOLD-PERP | +0.0015% | 1h | 4,327.8 | −0.209% | $25K | $14K | 20x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,332.4 | −0.102% | $13.2M | $37.2M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.313% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,331.6 | −0.121% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0044% | 1h | 4,333.4 | −0.080% | $5.4M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,366.9 | +0.693% | — | $1.0M | 25x | as long as short |
| Lighter XAU | +0.0048% | 1h | 4,336 | −0.020% | $20.7M | $30.9M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,332.8 | −0.093% | $292.5M | $50.4M | 25x | as long as short |
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Bluefin GOLD-PERP
Extended XAU-USD
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
Lighter XAU
tradeXYZ xyz:GOLDShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,331 | −0.134% | $15.0M | $56.6M | 25x | as long as short |
| RISEx XAU/USDC | +0.0054% | 1h | 4,334.6 | −0.053% | $3.7M | $12.3M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0057% | 24h | 4,335 | −0.043% | $4.1M | $40.3M | 15x | as long as short |
| Gate XAU_USDT | +0.0062% | 4h | 4,338.5 | +0.039% | $273.6M | $403.8M | 100x | as long as short |
| Bybit XAUUSDT | +0.0067% | 4h | 4,336.7 | −0.004% | $79.1M | $154.4M | 150x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,332.1 | −0.110% | $2.1M | $4.7M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0072% | 8h | 4,334.5 | −0.054% | $19K | $5K | 5x | as long as short |
| Lighter RH XAU | +0.0088% | 1h | 4,338 | +0.026% | $20.0M | $38.6M | 25x | as long as short |
| Hotstuff GOLD-PERP | +0.0096% | 1h | 4,325.6 | −0.259% | $32K | — | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,331.1 | −0.133% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,328.3 | −0.198% | $275K | $204K | 50x | as long as short |
| Variational Omni XAU | +0.0111% | 4h | 4,333.1 | −0.085% | $48.3M | $27.5M | — | as long as short |
| Aster XAUUSD1 | +0.0112% | 4h | 4,338.2 | +0.031% | $71.6M | $331.6M | 20x | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,335.7 | −0.027% | $161K | $87 | 10x | as long as short |
| MEXC XAU_USDT | +0.0120% | 4h | 4,336.7 | −0.005% | $365.7M | $322.1M | 1000x | as long as short |
| Binance XAUUSDTshort | +0.0121% | 4h | 4,336.9 | +0.002% | $417.7M | $2.13B | 100x | |
| Phoenix GOLD | +0.0127% | 1h | 4,333.4 | −0.080% | $47K | $77K | 25x | as long as short |
| GRVT XAU_USDT_Perp | +0.0132% | 4h | 4,332.3 | −0.104% | $1.4M | $2.9M | 25x | as long as short |
| edgeX XAUUSDC | +0.0138% | 4h | 4,329.7 | −0.164% | $30.1M | $58.7M | 50x | as long as short |
| Bullet GOLD-USD | +0.0162% | 1h | 4,334.1 | −0.063% | $59K | $82K | 10x | as long as short |
| Polymarket Perps GOLD-USD | +0.0171% | 1h | 4,334 | −0.066% | $4.2M | $2.0M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0212% | 1h | 4,332.7 | −0.096% | $202K | $820K | 25x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0247% | 1h | 4,331.2 | −0.131% | $590K | $130K | 25x | as long as short |
| HTX XAU-USDT | +0.0261% | 4h | 4,337.5 | +0.014% | $2.8M | $4.8M | 75x | as long as short |
| Bitget XAUUSDT | +0.0284% | 4h | 4,335.8 | −0.024% | $72.7M | $111.8M | 100x | as long as short |
| OKX XAU-USDT-SWAP | +0.0338% | 8h | 4,336.8 | −0.001% | $169.9M | $291.3M | 100x | as long as short |
| Phemex XAUUSDTlong | +0.0362% | 4h | 4,336.9 | long leg | $2.2M | $960K | 100x | |
| BloFin XAU-USDT | +0.0379% | 4h | 4,334.4 | −0.057% | $15.9M | $4.4M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0451% / S −0.0286% | 1h | 4,333.8 | −0.070% | $250K | — | 111x | as long as short |
Ondo Perps XAU-USD.P
RISEx XAU/USDC
Kalshi KXGOLDPERP
Gate XAU_USDT
Bybit XAUUSDT
Coinbase International GOLD-PERP-INTX
Paradex XAU-USD-PERP
Lighter RH XAU
Hotstuff GOLD-PERP
Pacifica XAU
ApeX Omni XAUUSDT
Variational Omni XAU
Aster XAUUSD1
Aevo XAU-PERP
MEXC XAU_USDT
Phoenix GOLD
GRVT XAU_USDT_Perp
edgeX XAUUSDC
Bullet GOLD-USD
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
Kraken Futures PF_XAUUSD
HTX XAU-USDT
Bitget XAUUSDT
OKX XAU-USDT-SWAP
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]