Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Aster against Phoenix+0.069%85s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.069% dearer against Phoenix than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 85 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	Phoenix GOLD	4,364.7	−0.0004	get 0.0000% / 1h	49m 57s	$48K	$65K	25x
Short	Aster XAUUSD1	4,367.7	0	get 0.0000% / 4h	49m 57s	$71.6M	$230.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0.77
Price spread: +0.069% → 0.000%: $6.87
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$7.36
Costs to cover: 0.150%
Break-even: 73.8 days

Slippage unknown: Phoenix: no order-book sample; Aster: live order book, 4 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 Aster live order book, 4 min ago	0.01 bp	4.0 bp −$4	5.2 bp −$52	31.0 bp −$3,101	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	−0.0398%	1h	4,360.6	−0.094%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0056%	1h	4,364.5	−0.005%	$33K	—	25x	as long as short
Phoenix GOLDlong	−0.0004%	1h	4,364.7	long leg	$48K	$65K	25x
Aster XAUUSD1short	0.0000%	4h	4,367.7	+0.069%	$71.6M	$230.6M	20x
Binance XAUUSDT	0.0000%	4h	4,367	+0.053%	$409.2M	$2.10B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,368.6	+0.089%	$82.9M	$141.3M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,366.9	+0.051%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,367.7	+0.069%	$268.7M	$406.1M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,367.3	+0.060%	$377.5M	$319.9M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,367.5	+0.065%	$67.0M	$111.0M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,366.4	+0.038%	$48.5M	$30.9M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,368.4	+0.085%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,364.6	−0.002%	$4.0M	$35.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,371.5	+0.155%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.6	−0.025%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,362.7	−0.047%	$30.3M	$58.1M	50x	as long as short
Bullet GOLD-USD	+0.0023%	1h	4,366.8	+0.048%	$60K	$84K	10x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,366.2	+0.034%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,366.5	+0.042%	$20.9M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,368.8	+0.093%	$20.3M	$41.5M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,363.9	−0.018%	$13.0M	$46.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.327%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.4	+0.039%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,401.6	+0.845%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,364.3	−0.009%	$293.8M	$52.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,366.9	+0.050%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,363.2	−0.034%	$14.5M	$56.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0071%	1h	4,365.4	+0.016%	$235K	$735K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0077%	1h	4,366.6	+0.044%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,366.1	+0.033%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,363.9	−0.017%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,364.4	−0.008%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0125%	4h	4,371	+0.144%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,363.9	−0.018%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0156%	8h	4,367.9	+0.073%	$158.1M	$270.7M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.4	−0.007%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.9	+0.051%	$14.8M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0291%	4h	4,370.3	+0.127%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,366.9	+0.051%	$252K	—	111x	as long as short