Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: ApeX Omni against Phoenix−0.009%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOLD	4,320.2	0.0100	pay 0.0012% / 1h	50m 09s	$47K	$79K	25x
Short	ApeX Omni XAUUSDT	4,319.8	0.0100	get 0.0013% / 1h	50m 09s	$272K	$208K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now −0.009%Rate

Funding earned: $0.03
Price spread: −0.009% → 0.000%: −$0.93
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$17.9
Costs to cover: 0.170%
Break-even: 4970.1 days

Slippage unknown: Phoenix: no order-book sample; ApeX Omni: live order book, 57 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 Phoenix no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 57 min ago	4.63 bp	13.4 bp −$13	26.0 bp −$260	42.6 bp −$4,264	doesn't fit

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 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	−0.0050%	1h	4,314.5	−0.132%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,325.2	+0.115%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,317.2	−0.069%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0008%	4h	4,323.1	+0.066%	$77.4M	$157.4M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,317.4	−0.064%	$13.2M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.700%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,322.3	+0.049%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,319.4	−0.019%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.7	+0.775%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,318.2	−0.046%	$291.4M	$51.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,317	−0.075%	$15.0M	$55.8M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,320.6	+0.009%	$20.3M	$30.2M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,319.8	−0.009%	$32K	—	25x	as long as short
Kalshi KXGOLDPERP	+0.0069%	24h	4,322.6	+0.056%	$3.9M	$43.0M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,317.9	−0.053%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,320.9	+0.015%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0080%	4h	4,323.7	+0.082%	$1.4M	$3.0M	25x	as long as short
Aster XAUUSD1	+0.0080%	4h	4,323.2	+0.070%	$72.4M	$312.4M	20x	as long as short
Gate XAU_USDT	+0.0082%	4h	4,323.7	+0.081%	$277.1M	$408.4M	100x	as long as short
Variational Omni XAU	+0.0093%	4h	4,320.2	+0.001%	$47.3M	$29.3M	—	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,321.3	+0.026%	$360.6M	$325.7M	1000x	as long as short
Phoenix GOLDlong	+0.0100%	1h	4,320.2	long leg	$47K	$79K	25x
Pacifica XAU	+0.0100%	1h	4,317.3	−0.067%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,319.8	−0.009%	$272K	$208K	50x
Binance XAUUSDT	+0.0101%	4h	4,322	+0.042%	$415.1M	$2.13B	100x	as long as short
Lighter RH XAU	+0.0104%	1h	4,322.8	+0.061%	$19.8M	$38.3M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,320.8	+0.014%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,319.3	−0.021%	$30.1M	$60.8M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,318.5	−0.039%	$588K	$131K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,322.6	+0.057%	$4.2M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,321.6	+0.032%	$59K	$81K	10x	as long as short
HTX XAU-USDT	+0.0215%	4h	4,325.4	+0.121%	$2.8M	$5.0M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,321.6	+0.032%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,321.7	+0.035%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0283%	1h	4,320.3	+0.002%	$193K	$830K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0316%	8h	4,322.7	+0.058%	$170.2M	$296.5M	100x	as long as short
BloFin XAU-USDT	+0.0340%	4h	4,322.3	+0.048%	$16.1M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0409%	4h	4,324.3	+0.096%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,321.4	+0.029%	$252K	—	111x	as long as short