Funding you earn now, next payment 08:00 UTC−0.0320%/8h= −35.1% APRnext payment −$1.60 per $10,000 · paid last 24h −0.129%
Price spread now: GRVT against Phemex+0.061%77s7-day average −0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$620.623% of the position
Funding, last 7 days−0.239%−$24 on $10k
+Price spread, last 4 days (all we have)−0.130%−$13 · spread now +0.061%, 7d avg −0.022%
=Together, before fees−0.370%+ Points / potential airdropGRVT: Active · farm board−$37 on $10k · with fees, hour by hour
The price spread pays, funding is against you. GRVT is 0.083% dearer against Phemex than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of −0.022%): +$8 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.239% in total) that is about 2.4 days. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex XAUUSDT | 4,313.4 | 0.0432 | pay 0.0216% / 4h | 8m 07s | $2.2M | $949K | 100x |
| Short | GRVT XAU_USDT_Perp | 4,316.1 | 0.0112 | get 0.0056% / 4h | 8m 07s | $1.4M | $3.0M | 25x |
Phemex XAUUSDT
GRVT XAU_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- −$67.24
- Price spread: +0.061% → −0.022%
- $8.34
- Slippage, 4 orders
- −$41.3
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$121.2
- Costs to cover
- 0.623%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; GRVT: live order book, 6 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, 5 min ago | 2.08 bp | 23.6 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell GRVT live order book, 6 min ago | 0.01 bp | 4.5 bp −$5 | 4.5 bp −$45 | 6.0 bp −$599 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff GOLD-PERP | −0.0032% | 1h | 4,308.8 | −0.107% | $32K | — | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,313.8 | +0.008% | $92K | $7.0M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,306.1 | −0.170% | $268K | — | 250x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.858% | $619 | $54 | 52x | as long as short |
| QFEX GOLD-USD | +0.0045% | 1h | 4,309.3 | −0.096% | $5.7M | $2.7M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,343.2 | +0.690% | — | $1.0M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,306.2 | −0.167% | $290.2M | $52.2M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,307.2 | −0.144% | $15.0M | $55.3M | 25x | as long as short |
| Aster XAUUSD1 | +0.0057% | 4h | 4,309.4 | −0.094% | $72.8M | $271.9M | 20x | as long as short |
| Paradex XAU-USD-PERP | +0.0063% | 8h | 4,310.9 | −0.058% | $2K | $14K | 5x | as long as short |
Hotstuff GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Injective XAU/USDC PERP
QFEX GOLD-USD
Vest GC-PERP
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
Aster XAUUSD1
Paradex XAU-USD-PERPShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bluefin GOLD-PERP | +0.0063% | 1h | 4,305.1 | −0.193% | $25K | $1K | 20x | as long as short |
| Bybit XAUUSDT | +0.0069% | 4h | 4,308.3 | −0.118% | $77.4M | $154.7M | 150x | as long as short |
| Lighter XAU | +0.0072% | 1h | 4,308.9 | −0.105% | $20.2M | $30.2M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,306.4 | −0.163% | $2.0M | $5.1M | 25x | as long as short |
| Phoenix GOLD | +0.0096% | 1h | 4,313.9 | +0.011% | $42K | $79K | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0099% | 24h | 4,312.9 | −0.012% | $3.7M | $45.2M | 15x | as long as short |
| Variational Omni XAU | +0.0100% | 4h | 4,316.5 | +0.071% | $47.1M | $29.0M | — | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,307.8 | −0.130% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,313.5 | +0.002% | $272K | $209K | 50x | as long as short |
| StandX XAU-USD | +0.0103% | 1h | 4,320 | +0.153% | $3.8M | $4.5M | 40x | as long as short |
| Lighter RH XAU | +0.0104% | 1h | 4,311.3 | −0.050% | $19.9M | $40.1M | 25x | as long as short |
| Extended XAU-USD | +0.0104% | 1h | 4,303.9 | −0.221% | $13.2M | $36.6M | 25x | as long as short |
| Binance XAUUSDT | +0.0110% | 4h | 4,307.9 | −0.129% | $428.6M | $2.15B | 100x | as long as short |
| MEXC XAU_USDT | +0.0110% | 4h | 4,309.8 | −0.084% | $359.9M | $338.0M | 1000x | as long as short |
| GRVT XAU_USDT_Perpshort | +0.0112% | 4h | 4,316.1 | +0.061% | $1.4M | $3.0M | 25x | |
| Aevo XAU-PERP | +0.0112% | 1h | 4,309.5 | −0.092% | $160K | $87 | 10x | as long as short |
| Gate XAU_USDT | +0.0116% | 4h | 4,310 | −0.078% | $285.1M | $429.2M | 100x | as long as short |
| edgeX XAUUSDC | +0.0127% | 4h | 4,313.1 | −0.006% | $30.0M | $59.8M | 50x | as long as short |
| Bitget XAUUSDT | +0.0190% | 4h | 4,306.9 | −0.152% | $70.2M | $120.6M | 100x | as long as short |
| Bullet GOLD-USD | +0.0199% | 1h | 4,310.7 | −0.064% | $59K | $81K | 10x | as long as short |
| Polymarket Perps GOLD-USD | +0.0221% | 1h | 4,311.1 | −0.054% | $4.3M | $1.8M | 20x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0228% | 1h | 4,307.5 | −0.138% | $573K | $138K | 25x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0261% | 1h | 4,308.6 | −0.112% | $136K | $864K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0264% | 8h | 4,307.9 | −0.128% | $175.2M | $304.3M | 100x | as long as short |
| BloFin XAU-USDT | +0.0350% | 4h | 4,312.8 | −0.015% | $16.5M | $4.9M | 100x | as long as short |
| Phemex XAUUSDTlong | +0.0432% | 4h | 4,313.4 | long leg | $2.2M | $949K | 100x | |
| GMX GOLD/USD [ETH-USDC] | L +0.0465% / S −0.0312% | 1h | 4,310.7 | −0.064% | $254K | — | 111x | as long as short |
| HTX XAU-USDT | +0.0537% | 4h | 4,318 | +0.106% | $3.2M | $6.1M | 75x | as long as short |
| RISEx XAU/USDC | +0.0643% | 1h | 4,310.6 | −0.066% | $4.5M | $13.1M | 25x | as long as short |
Bluefin GOLD-PERP
Bybit XAUUSDT
Lighter XAU
Coinbase International GOLD-PERP-INTX
Phoenix GOLD
Kalshi KXGOLDPERP
Variational Omni XAU
Pacifica XAU
ApeX Omni XAUUSDT
StandX XAU-USD
Lighter RH XAU
Extended XAU-USD
Binance XAUUSDT
MEXC XAU_USDT
Aevo XAU-PERP
Gate XAU_USDT
edgeX XAUUSDC
Bitget XAUUSDT
Bullet GOLD-USD
Polymarket Perps GOLD-USD
Kraken Futures PF_XAUUSD
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT
RISEx XAU/USDC