Funding you earn now, next payment 05:00 UTC+0.0034%/8h= +3.8% APRnext payment +$0.04 per $10,000 · paid last 24h +0.012%
Price spread now: Bullet against Phoenix+0.054%62s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bullet is 0.054% dearer against Phoenix than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 62 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 | 4,333.4 | 0.0127 | pay 0.0016% / 1h | 29m 29s | $47K | $77K | 25x |
| Short | Bullet GOLD-USD | 4,335.7 | 0.0161 | get 0.0020% / 1h | 29m 29s | $59K | $82K | 10x |
Phoenix GOLD
Bullet GOLD-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet 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
- $7.22
- Price spread: +0.054% → 0.000%
- $5.4
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$2.38
- Costs to cover
- 0.150%
- Break-even
- 9.3 days
Slippage unknown: Phoenix: no order-book sample; Bullet: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Bullet no order-book sample | — | — | — | — | — |
Phoenix and Bullet: 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 | |
|---|---|---|---|---|---|---|---|---|
| SunX XAU-USDT | 0.0000% | 4h | 4,340 | +0.153% | $92K | $8.4M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,332.1 | −0.031% | $271K | — | 250x | as long as short |
| Bluefin GOLD-PERP | +0.0005% | 1h | 4,330 | −0.078% | $25K | $14K | 20x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,330.7 | −0.062% | $13.2M | $37.2M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.393% | $619 | $54 | 52x | as long as short |
| Lighter XAU | +0.0040% | 1h | 4,332.5 | −0.022% | $20.6M | $30.9M | 25x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,337.5 | +0.095% | $3.8M | $4.6M | 40x | as long as short |
| QFEX GOLD-USD | +0.0044% | 1h | 4,334.7 | +0.030% | $5.4M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,366.8 | +0.771% | — | $1.0M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,332.1 | −0.030% | $292.5M | $50.4M | 25x | as long as short |
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Bluefin GOLD-PERP
Extended XAU-USD
Injective XAU/USDC PERP
Lighter XAU
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
tradeXYZ xyz:GOLDShow 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 | 4,332.8 | −0.014% | $15.0M | $56.7M | 25x | as long as short |
| RISEx XAU/USDC | +0.0054% | 1h | 4,336.2 | +0.064% | $3.7M | $12.3M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0057% | 24h | 4,336.6 | +0.074% | $4.1M | $40.4M | 15x | as long as short |
| Bybit XAUUSDT | +0.0061% | 4h | 4,335.1 | +0.038% | $79.0M | $154.7M | 150x | as long as short |
| Gate XAU_USDT | +0.0062% | 4h | 4,337.5 | +0.095% | $273.7M | $404.8M | 100x | as long as short |
| Paradex XAU-USD-PERP | +0.0072% | 8h | 4,335 | +0.038% | $19K | $5K | 5x | as long as short |
| Hotstuff GOLD-PERP | +0.0072% | 1h | 4,332.4 | −0.023% | $32K | — | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,332.1 | −0.030% | $2.1M | $4.7M | 25x | as long as short |
| Lighter RH XAU | +0.0088% | 1h | 4,334.7 | +0.030% | $19.9M | $38.6M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,332 | −0.033% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,328.3 | −0.119% | $275K | $204K | 50x | as long as short |
| Aster XAUUSD1 | +0.0110% | 4h | 4,336.1 | +0.062% | $71.5M | $331.9M | 20x | as long as short |
| Variational Omni XAU | +0.0111% | 4h | 4,333.1 | −0.006% | $48.3M | $27.5M | — | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,335.4 | +0.047% | $161K | $87 | 10x | as long as short |
| MEXC XAU_USDT | +0.0120% | 4h | 4,334.2 | +0.018% | $366.7M | $322.8M | 1000x | as long as short |
| Binance XAUUSDT | +0.0120% | 4h | 4,334.2 | +0.018% | $414.3M | $2.14B | 100x | as long as short |
| Phoenix GOLDlong | +0.0127% | 1h | 4,333.4 | long leg | $47K | $77K | 25x | |
| GRVT XAU_USDT_Perp | +0.0128% | 4h | 4,336.3 | +0.067% | $1.4M | $2.9M | 25x | as long as short |
| edgeX XAUUSDC | +0.0138% | 4h | 4,329.7 | −0.084% | $30.1M | $58.7M | 50x | as long as short |
| Bullet GOLD-USDshort | +0.0161% | 1h | 4,335.7 | +0.054% | $59K | $82K | 10x | |
| Polymarket Perps GOLD-USD | +0.0171% | 1h | 4,336 | +0.060% | $4.2M | $2.0M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0235% | 1h | 4,334.7 | +0.030% | $202K | $820K | 25x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0247% | 1h | 4,333.2 | −0.005% | $590K | $130K | 25x | as long as short |
| HTX XAU-USDT | +0.0260% | 4h | 4,339 | +0.129% | $2.8M | $4.8M | 75x | as long as short |
| Bitget XAUUSDT | +0.0282% | 4h | 4,335.7 | +0.052% | $72.5M | $112.3M | 100x | as long as short |
| OKX XAU-USDT-SWAP | +0.0338% | 8h | 4,334.9 | +0.035% | $170.0M | $291.1M | 100x | as long as short |
| Phemex XAUUSDT | +0.0339% | 4h | 4,336.9 | +0.080% | $2.2M | $960K | 100x | as long as short |
| BloFin XAU-USDT | +0.0379% | 4h | 4,334.4 | +0.022% | $15.9M | $4.4M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0451% / S −0.0286% | 1h | 4,336 | +0.060% | $250K | — | 111x | as long as short |
Ondo Perps XAU-USD.P
RISEx XAU/USDC
Kalshi KXGOLDPERP
Bybit XAUUSDT
Gate XAU_USDT
Paradex XAU-USD-PERP
Hotstuff GOLD-PERP
Coinbase International GOLD-PERP-INTX
Lighter RH XAU
Pacifica XAU
ApeX Omni XAUUSDT
Aster XAUUSD1
Variational Omni XAU
Aevo XAU-PERP
MEXC XAU_USDT
Binance XAUUSDT
GRVT XAU_USDT_Perp
edgeX XAUUSDC
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
Kraken Futures PF_XAUUSD
HTX XAU-USDT
Bitget XAUUSDT
OKX XAU-USDT-SWAP
Phemex XAUUSDT
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]