Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.002%
Price spread now: Binance against Phoenix−0.032%85s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.032% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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 | 4,327.4 | 0.0127 | pay 0.0016% / 1h | 57m 59s | $47K | $76K | 25x |
| Short | Binance XAUUSDT | 4,326 | 0.0095 | get 0.0048% / 4h | 1h 57m | $412.9M | $2.12B | 100x |
Phoenix GOLD
Binance XAUUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$6.65
- Price spread: −0.032% → 0.000%
- −$3.22
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$26.87
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 16 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 Binance live order book, 16 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 7.3 bp −$734 | 13.5 bp −$6,767 |
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 | −0.0017% | 1h | 4,320.4 | −0.163% | $25K | $14K | 20x | as long as short |
| Bybit XAUUSDT | 0.0000% | 4h | 4,325.9 | −0.034% | $77.9M | $156.7M | 150x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,330.4 | +0.069% | $92K | $8.0M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,322.5 | −0.113% | $270K | — | 250x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,321.8 | −0.129% | $13.1M | $36.6M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.532% | $619 | $54 | 52x | as long as short |
| Lighter XAU | +0.0040% | 1h | 4,325.4 | −0.047% | $20.4M | $30.0M | 25x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,329.5 | +0.049% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,326.1 | −0.030% | $5.4M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,359.4 | +0.739% | — | $1.0M | 25x | as long as short |
Bluefin GOLD-PERP
Bybit XAUUSDT
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Extended XAU-USD
Injective XAU/USDC PERP
Lighter XAU
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff GOLD-PERP | +0.0048% | 1h | 4,323.4 | −0.092% | $32K | — | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,322.6 | −0.111% | $291.6M | $51.6M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,323 | −0.101% | $15.0M | $56.2M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0066% | 24h | 4,327.4 | 0.000% | $3.9M | $42.5M | 15x | as long as short |
| Gate XAU_USDT | +0.0068% | 4h | 4,328.1 | +0.016% | $270.0M | $403.1M | 100x | as long as short |
| Paradex XAU-USD-PERP | +0.0069% | 8h | 4,327.4 | +0.001% | $19K | $5K | 5x | as long as short |
| GRVT XAU_USDT_Perp | +0.0070% | 4h | 4,328.6 | +0.028% | $1.4M | $3.0M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,323.6 | −0.088% | $2.0M | $4.8M | 25x | as long as short |
| Lighter RH XAU | +0.0080% | 1h | 4,327.6 | +0.006% | $19.8M | $38.2M | 25x | as long as short |
| Aster XAUUSD1 | +0.0081% | 4h | 4,327.2 | −0.005% | $72.3M | $322.8M | 20x | as long as short |
| Variational Omni XAU | +0.0086% | 4h | 4,328.3 | +0.022% | $46.8M | $28.8M | — | as long as short |
| MEXC XAU_USDT | +0.0094% | 4h | 4,325.2 | −0.052% | $364.2M | $323.6M | 1000x | as long as short |
| Binance XAUUSDTshort | +0.0095% | 4h | 4,326 | −0.032% | $412.9M | $2.12B | 100x | |
| Pacifica XAU | +0.0100% | 1h | 4,323.7 | −0.087% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,327.3 | −0.001% | $272K | $208K | 50x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,325.3 | −0.048% | $160K | $87 | 10x | as long as short |
| edgeX XAUUSDC | +0.0108% | 4h | 4,325.5 | −0.044% | $30.1M | $60.7M | 50x | as long as short |
| Phoenix GOLDlong | +0.0127% | 1h | 4,327.4 | long leg | $47K | $76K | 25x | |
| Kraken Futures PF_XAUUSD | +0.0153% | 1h | 4,323.4 | −0.091% | $589K | $130K | 25x | as long as short |
| Bullet GOLD-USD | +0.0182% | 1h | 4,326.7 | −0.016% | $59K | $82K | 10x | as long as short |
| RISEx XAU/USDC | +0.0184% | 1h | 4,327.9 | +0.011% | $3.8M | $12.5M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0196% | 1h | 4,326.7 | −0.016% | $4.2M | $1.9M | 20x | as long as short |
| HTX XAU-USDT | +0.0201% | 4h | 4,330 | +0.061% | $2.8M | $5.0M | 75x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0213% | 1h | 4,325.4 | −0.046% | $194K | $828K | 25x | as long as short |
| Bitget XAUUSDT | +0.0236% | 4h | 4,325.4 | −0.046% | $68.0M | $119.1M | 100x | as long as short |
| OKX XAU-USDT-SWAP | +0.0319% | 8h | 4,325.9 | −0.035% | $170.3M | $296.7M | 100x | as long as short |
| BloFin XAU-USDT | +0.0335% | 4h | 4,328 | +0.014% | $16.0M | $4.5M | 100x | as long as short |
| Phemex XAUUSDT | +0.0388% | 4h | 4,328.9 | +0.035% | $2.2M | $961K | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0463% / S −0.0307% | 1h | 4,326.8 | −0.014% | $253K | — | 111x | as long as short |
Hotstuff GOLD-PERP
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
Kalshi KXGOLDPERP
Gate XAU_USDT
Paradex XAU-USD-PERP
GRVT XAU_USDT_Perp
Coinbase International GOLD-PERP-INTX
Lighter RH XAU
Aster XAUUSD1
Variational Omni XAU
MEXC XAU_USDT
Pacifica XAU
ApeX Omni XAUUSDT
Aevo XAU-PERP
edgeX XAUUSDC
Kraken Futures PF_XAUUSD
Bullet GOLD-USD
RISEx XAU/USDC
Polymarket Perps GOLD-USD
HTX XAU-USDT
Deribit GOLD_USDC-PERPETUAL
Bitget XAUUSDT
OKX XAU-USDT-SWAP
BloFin XAU-USDT
Phemex XAUUSDT
GMX GOLD/USD [ETH-USDC]