Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0258%/8h= −28.2% APRpaid last 24h −0.121%

Price spread now: Vest against Phemex+0.726%7-day average +0.836% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.106%−$11 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now +0.726%, 7d avg +0.836%

Together, before fees−0.129%+ Points / potential airdropVest: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Vest is 0.111% cheaper against Phemex than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.836%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,368.8	0.0303	pay 0.0152% / 4h	40m 07s	$2.2M	$1.1M	100x
Short	Vest GC-PERP	4,400.5	0.0046	get 0.0006% / 1h	40m 07s	—	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.726%Rate

Funding earned: −$54.1
Price spread: +0.726% → +0.836%: −$11.07
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$79.16
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Vest: 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, 3 min ago	2.33 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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 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
Bluefin GOLD-PERP	−0.0280%	1h	4,359.4	−0.214%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.3	−0.126%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,365.9	−0.066%	$71.6M	$227.7M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.4	−0.077%	$407.9M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366	−0.063%	$82.6M	$141.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,366.8	−0.045%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.2	−0.060%	$268.0M	$408.3M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.3	−0.079%	$377.2M	$321.5M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,364.9	−0.088%	$67.0M	$111.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	−0.066%	$48.5M	$30.6M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,367.2	−0.037%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,363.7	−0.117%	$4.0M	$35.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,370.9	+0.048%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,361.2	−0.174%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,360.5	−0.189%	$30.3M	$58.3M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,366.1	−0.062%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,364.5	−0.097%	$20.8M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.1	−0.039%	$20.2M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,361.6	−0.165%	$13.0M	$46.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.420%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.6	−0.050%	$3.8M	$4.7M	40x	as long as short
Bullet GOLD-USD	+0.0045%	1h	4,364.9	−0.089%	$60K	$81K	10x	as long as short
Vest GC-PERPshort	+0.0046%	1h	4,400.5	+0.726%	—	$1.0M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,361.7	−0.162%	$293.6M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,366.4	−0.055%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,363.6	−0.118%	$14.5M	$56.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0071%	1h	4,363.5	−0.121%	$235K	$735K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0076%	1h	4,365.7	−0.071%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.5	−0.098%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,363.6	−0.118%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.3	−0.171%	$277K	$204K	50x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,363.3	−0.126%	$33K	—	25x	as long as short
HTX XAU-USDT	+0.0141%	4h	4,368.2	−0.014%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,361.5	−0.167%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,365.9	−0.066%	$157.8M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,362.9	−0.134%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.9	−0.044%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDTlong	+0.0303%	4h	4,368.8	long leg	$2.2M	$1.1M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,364.9	−0.089%	$252K	—	111x	as long as short