Funding you earn now, next payment 10:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.122%
Price spread now: Phoenix against Phemex−0.075%73s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.075% cheaper against Phemex than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 73 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 | 4,334.8 | 0.0178 | pay 0.0089% / 4h | 1h 07m | $2.3M | $777K | 100x |
| Short | Phoenix GOLD | 4,331.5 | 0.0127 | get 0.0016% / 1h | 7m 58s | $43K | $71K | 25x |
Phemex XAUUSDT
Phoenix GOLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$10.58
- Price spread: −0.075% → 0.000%
- −$7.5
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$37.08
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 4 min ago; 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 Phemex live order book, 4 min ago | 0.50 bp | 33.6 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 exchanges
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 | −3.2000% | 1h | 4,329.2 | −0.128% | $35K | $3K | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,335.5 | +0.018% | $92K | $5.7M | 20x | as long as short |
| Coinbase International GOLD-PERP-INTX | 0.0000% | 1h | 4,327.9 | −0.158% | $2.1M | $5.0M | 25x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,328 | −0.157% | $304K | — | 250x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.361% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,333.9 | −0.020% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0041% | 1h | 4,330.7 | −0.093% | $6.7M | $3.2M | 20x | as long as short |
| Aster XAUUSD1 | +0.0043% | 4h | 4,334 | −0.018% | $71.8M | $276.5M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,365.1 | +0.700% | — | $1.0M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,329.6 | −0.119% | $292.7M | $51.6M | 25x | as long as short |
Hotstuff GOLD-PERP
SunX XAU-USDT
Coinbase International GOLD-PERP-INTX
gTrade (Gains Network) XAU/USD
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Aster XAUUSD1
Vest GC-PERP
tradeXYZ xyz:GOLDShow all 39 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,327 | −0.179% | $15.2M | $59.7M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0056% | 8h | 4,331.5 | −0.076% | $2K | $13K | 5x | as long as short |
| Bluefin GOLD-PERP | +0.0057% | 1h | 4,325.8 | −0.206% | $25K | $1K | 20x | as long as short |
| Variational Omni XAU | +0.0069% | 4h | 4,329.8 | −0.115% | $47.2M | $28.4M | — | as long as short |
| Gate XAU_USDT | +0.0078% | 4h | 4,334 | −0.017% | $299.9M | $451.5M | 100x | as long as short |
| Lighter XAU | +0.0080% | 1h | 4,331.4 | −0.077% | $20.1M | $30.6M | 25x | as long as short |
| MEXC XAU_USDT | +0.0084% | 4h | 4,332.1 | −0.062% | $368.1M | $357.9M | 1000x | as long as short |
| Binance XAUUSDT | +0.0085% | 4h | 4,332.6 | −0.049% | $442.1M | $2.43B | 100x | as long as short |
| edgeX XAUUSDC | +0.0085% | 4h | 4,330.4 | −0.101% | $30.3M | $66.4M | 50x | as long as short |
| GRVT XAU_USDT_Perp | +0.0092% | 4h | 4,331.1 | −0.084% | $1.4M | $3.1M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,328.9 | −0.136% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,329.3 | −0.126% | $287K | $227K | 50x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,330.5 | −0.097% | $160K | $87 | 10x | as long as short |
| Lighter RH XAU | +0.0120% | 1h | 4,334.2 | −0.012% | $19.6M | $40.4M | 25x | as long as short |
| Phoenix GOLDshort | +0.0127% | 1h | 4,331.5 | −0.075% | $43K | $71K | 25x | |
| Kalshi KXGOLDPERP | +0.0144% | 24h | 4,332.8 | −0.045% | $3.5M | $51.5M | 15x | as long as short |
| Bybit XAUUSDT | +0.0154% | 4h | 4,334 | −0.018% | $83.0M | $167.3M | 150x | as long as short |
| Polymarket Perps GOLD-USD | +0.0157% | 1h | 4,331.8 | −0.068% | $4.3M | $1.7M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0166% | 1h | 4,329.8 | −0.114% | $135K | $662K | 25x | as long as short |
| Phemex XAUUSDTlong | +0.0178% | 4h | 4,334.8 | long leg | $2.3M | $777K | 100x | |
| Bullet GOLD-USD | +0.0178% | 1h | 4,332 | −0.062% | $59K | $77K | 10x | as long as short |
| Extended XAU-USD | +0.0192% | 1h | 4,328.5 | −0.145% | $12.5M | $34.3M | 25x | as long as short |
| Bitget XAUUSDT | +0.0200% | 4h | 4,332.3 | −0.057% | $72.6M | $139.8M | 100x | as long as short |
| RISEx XAU/USDC | +0.0205% | 1h | 4,332.2 | −0.059% | $4.7M | $13.3M | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0231% | 8h | 4,333.3 | −0.033% | $171.1M | $362.1M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0253% | 1h | 4,329.1 | −0.130% | $583K | $166K | 25x | as long as short |
| BloFin XAU-USDT | +0.0325% | 4h | 4,332.8 | −0.045% | $16.4M | $5.3M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0461% / S −0.0308% | 1h | 4,332.1 | −0.062% | $253K | — | 111x | as long as short |
| HTX XAU-USDT | +0.1038% | 4h | 4,338.9 | +0.096% | $3.2M | $7.1M | 75x | as long as short |
Ondo Perps XAU-USD.P
Paradex XAU-USD-PERP
Bluefin GOLD-PERP
Variational Omni XAU
Gate XAU_USDT
Lighter XAU
MEXC XAU_USDT
Binance XAUUSDT
edgeX XAUUSDC
GRVT XAU_USDT_Perp
Pacifica XAU
ApeX Omni XAUUSDT
Aevo XAU-PERP
Lighter RH XAU
Kalshi KXGOLDPERP
Bybit XAUUSDT
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
Bullet GOLD-USD
Extended XAU-USD
Bitget XAUUSDT
RISEx XAU/USDC
OKX XAU-USDT-SWAP
Kraken Futures PF_XAUUSD
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT