Funding you earn now, next payment 08:00 UTC−0.0160%/8h= −17.5% APRnext payment −$0.80 per $10,000 · paid last 24h −0.124%
Price spread now: Variational Omni against Phemex−0.077%56s7-day average −0.042% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.115%−$12 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.077%, 7d avg −0.042%
=Together, before fees−0.105%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Variational Omni is 0.035% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.042%). Swap the legs. The two prices were read 56 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 | 4,344.5 | 0.0259 | pay 0.0130% / 4h | 3h 26m | $2.2M | $967K | 100x |
| Short | Variational Omni XAU | 4,341.1 | 0.0100 | get 0.0050% / 4h | 3h 26m | $48.3M | $27.6M | — |
Phemex XAUUSDT
Variational Omni XAUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$33.55
- Price spread: −0.077% → −0.042%
- −$3.47
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$49.01
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 2 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 2 min ago | 1.43 bp | 40.7 bp −$41 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 3 min ago | 1.54 bp | doesn't fit | 2.1 bp −$21 | 4.7 bp −$465 | 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 | 4,345.4 | +0.021% | $92K | $8.6M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,336.9 | −0.174% | $271K | — | 250x | as long as short |
| RISEx XAU/USDC | +0.0005% | 1h | 4,341.2 | −0.075% | $3.8M | $12.4M | 25x | as long as short |
| Bybit XAUUSDT | +0.0021% | 4h | 4,341.8 | −0.061% | $79.9M | $152.3M | 150x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,336.9 | −0.175% | $13.3M | $37.1M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.137% | $619 | $54 | 52x | as long as short |
| Bluefin GOLD-PERP | +0.0035% | 1h | 4,335.5 | −0.206% | $25K | $14K | 20x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,342.3 | −0.050% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,340.3 | −0.096% | $5.5M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,373.7 | +0.673% | — | $1.0M | 25x | as long as short |
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
RISEx XAU/USDC
Bybit XAUUSDT
Extended XAU-USD
Injective XAU/USDC PERP
Bluefin GOLD-PERP
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERPShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter XAU | +0.0048% | 1h | 4,340.3 | −0.096% | $20.7M | $34.6M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,337.8 | −0.154% | $293.4M | $49.3M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,338.4 | −0.141% | $15.1M | $56.9M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0051% | 24h | 4,339.3 | −0.119% | $4.2M | $37.4M | 15x | as long as short |
| Paradex XAU-USD-PERP | +0.0054% | 8h | 4,340.6 | −0.090% | $19K | $5K | 5x | as long as short |
| Lighter RH XAU | +0.0056% | 1h | 4,342.4 | −0.049% | $20.2M | $39.9M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0056% | 1h | 4,339.5 | −0.114% | $2.1M | $4.8M | 25x | as long as short |
| Hotstuff GOLD-PERP | +0.0072% | 1h | 4,337.9 | −0.151% | $33K | — | 25x | as long as short |
| Gate XAU_USDT | +0.0080% | 4h | 4,342.9 | −0.037% | $268.9M | $416.7M | 100x | as long as short |
| Aster XAUUSD1 | +0.0091% | 4h | 4,342.9 | −0.036% | $71.5M | $332.0M | 20x | as long as short |
| Variational Omni XAUshort | +0.0100% | 4h | 4,341.1 | −0.077% | $48.3M | $27.6M | — | |
| Pacifica XAU | +0.0100% | 1h | 4,337.8 | −0.154% | $1.4M | $1.1M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,337.5 | −0.160% | $274K | $203K | 50x | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,340.5 | −0.091% | $161K | $87 | 10x | as long as short |
| MEXC XAU_USDT | +0.0114% | 4h | 4,341.3 | −0.074% | $370.9M | $320.0M | 1000x | as long as short |
| Binance XAUUSDT | +0.0116% | 4h | 4,341.1 | −0.077% | $417.7M | $2.09B | 100x | as long as short |
| edgeX XAUUSDC | +0.0122% | 4h | 4,337.8 | −0.153% | $30.2M | $58.1M | 50x | as long as short |
| Phoenix GOLD | +0.0136% | 1h | 4,338.4 | −0.140% | $47K | $77K | 25x | as long as short |
| GRVT XAU_USDT_Perp | +0.0204% | 4h | 4,341.8 | −0.062% | $1.4M | $2.9M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0215% | 1h | 4,341.2 | −0.075% | $4.3M | $1.9M | 20x | as long as short |
| Bullet GOLD-USD | +0.0216% | 1h | 4,341.4 | −0.071% | $59K | $82K | 10x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0234% | 1h | 4,339.3 | −0.119% | $205K | $826K | 25x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0259% | 1h | 4,338.3 | −0.142% | $592K | $132K | 25x | as long as short |
| Phemex XAUUSDTlong | +0.0259% | 4h | 4,344.5 | long leg | $2.2M | $967K | 100x | |
| Bitget XAUUSDT | +0.0262% | 4h | 4,341.8 | −0.062% | $71.0M | $109.2M | 100x | as long as short |
| OKX XAU-USDT-SWAP | +0.0324% | 8h | 4,342.7 | −0.041% | $167.0M | $281.8M | 100x | as long as short |
| BloFin XAU-USDT | +0.0356% | 4h | 4,341.7 | −0.063% | $15.7M | $4.4M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0427% / S −0.0252% | 1h | 4,341.3 | −0.073% | $250K | — | 111x | as long as short |
| HTX XAU-USDT | +0.0596% | 4h | 4,345.8 | +0.029% | $2.8M | $4.6M | 75x | as long as short |
Lighter XAU
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
Kalshi KXGOLDPERP
Paradex XAU-USD-PERP
Lighter RH XAU
Coinbase International GOLD-PERP-INTX
Hotstuff GOLD-PERP
Gate XAU_USDT
Aster XAUUSD1
Pacifica XAU
ApeX Omni XAUUSDT
Aevo XAU-PERP
MEXC XAU_USDT
Binance XAUUSDT
edgeX XAUUSDC
Phoenix GOLD
GRVT XAU_USDT_Perp
Polymarket Perps GOLD-USD
Bullet GOLD-USD
Deribit GOLD_USDC-PERPETUAL
Kraken Futures PF_XAUUSD
Bitget XAUUSDT
OKX XAU-USDT-SWAP
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT