Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0301%/8h= −33.0% APRpaid last 24h −0.131%

Price spread now: StandX against Phemex−0.019%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on Phemex Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.308%−$31 on $10k

Price spread, last 3 days (all we have)−0.046%−$5 · spread now −0.019%, 7d avg −0.020%

Together, before fees−0.354%+ Points / potential airdropStandX: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,359.2	0.0341	pay 0.0171% / 4h	2h 15m	$2.2M	$1.1M	100x
Short	StandX XAU-USD	4,358.4	0.0040	get 0.0005% / 1h	15m 39s	$3.8M	$4.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX against Phemex. 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 PhemexbpFee StandXbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$63.27
Price spread: −0.019% → −0.020%: $0.05
Slippage, 4 orders: −$60.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee StandX: 4 bp × 2 orders: −$8
Net: −$144.01
Costs to cover: 0.808%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; StandX: live order book, 3 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	1.02 bp	30.6 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell StandX live order book, 3 min ago	0.12 bp	6.1 bp −$6	7.0 bp −$70	9.6 bp −$957	13.1 bp −$6,564

XAU on 38 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
Gate XAU_USDT	0.0000%	4h	4,360.1	+0.020%	$263.6M	$413.5M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,362.2	+0.067%	$93K	$9.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353	−0.143%	$270K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,355.8	−0.079%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.7	−0.151%	$13.5M	$41.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.202%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0034%	24h	4,354.8	−0.102%	$4.1M	$35.9M	15x	as long as short
Aster XAUUSD1	+0.0035%	4h	4,359.1	−0.003%	$70.5M	$296.8M	20x	as long as short
StandX XAU-USDshort	+0.0040%	1h	4,358.4	−0.019%	$3.8M	$4.7M	40x
Vest GC-PERP	+0.0046%	1h	4,391.7	+0.745%	—	$1.0M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,355.1	−0.095%	$294.4M	$48.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355.1	−0.094%	$14.9M	$58.0M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,357.3	−0.045%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0056%	1h	4,356.8	−0.056%	$20.7M	$43.7M	25x	as long as short
Lighter RH XAU	+0.0064%	1h	4,359.5	+0.006%	$20.2M	$41.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,353.8	−0.125%	$2.0M	$5.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0073%	1h	4,357.1	−0.049%	$4.3M	$1.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,358.1	−0.026%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0086%	4h	4,356	−0.073%	$48.2M	$28.1M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,355.1	−0.095%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,358.1	−0.027%	$375.9M	$323.6M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,358.5	−0.018%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,350.6	−0.199%	$25K	$14K	20x	as long as short
Binance XAUUSDT	+0.0102%	4h	4,358.2	−0.025%	$409.5M	$2.10B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,356.5	−0.062%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,353.3	−0.136%	$30.3M	$59.9M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0116%	4h	4,360	+0.018%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0121%	1h	4,356.9	−0.054%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,358	−0.029%	$3.4M	$12.4M	25x	as long as short
Bullet GOLD-USD	+0.0165%	1h	4,357.7	−0.035%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0177%	4h	4,359.2	0.000%	$84.0M	$143.7M	150x	as long as short
Bitget XAUUSDT	+0.0184%	4h	4,358.2	−0.024%	$69.5M	$109.6M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0237%	8h	4,359.5	+0.006%	$165.0M	$281.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.4	−0.111%	$594K	$139K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0301%	1h	4,355.4	−0.088%	$242K	$672K	25x	as long as short
Phemex XAUUSDTlong	+0.0341%	4h	4,359.2	long leg	$2.2M	$1.1M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0391% / S −0.0197%	1h	4,357.2	−0.047%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0547%	4h	4,363.9	+0.107%	$2.9M	$3.9M	75x	as long as short