Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.006%

Price spread now: GRVT against Phoenix+0.086%7-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 GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.086% dearer against Phoenix than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOLD	4,320.6	0.0100	pay 0.0012% / 1h	4m 29s	$47K	$79K	25x
Short	GRVT XAU_USDT_Perp	4,324.3	0.0094	get 0.0047% / 4h	1h 04m	$1.4M	$3.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$1.23
Price spread: +0.086% → 0.000%: $8.63
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$8.6
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; GRVT: 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 GRVT live order book, 4 min ago	0.01 bp	4.5 bp −$5	4.8 bp −$48	68.1 bp −$6,814	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	4,317.1	−0.080%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327	+0.148%	$92K	$7.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,316.8	−0.089%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0023%	4h	4,322	+0.033%	$77.0M	$154.2M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.690%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.5	+0.067%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,320.8	+0.005%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.6	+0.764%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,317.1	−0.081%	$291.4M	$51.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,317.4	−0.073%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0058%	4h	4,322.3	+0.040%	$72.6M	$273.5M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,320.5	−0.003%	$20.3M	$30.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.3	−0.007%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0076%	8h	4,320.7	+0.003%	$2K	$14K	5x	as long as short
Kalshi KXGOLDPERP	+0.0083%	24h	4,323.2	+0.060%	$3.8M	$44.1M	15x	as long as short
Variational Omni XAU	+0.0093%	4h	4,322.6	+0.046%	$47.2M	$29.1M	—	as long as short
GRVT XAU_USDT_Perpshort	+0.0094%	4h	4,324.3	+0.086%	$1.4M	$3.0M	25x
MEXC XAU_USDT	+0.0098%	4h	4,321.1	+0.012%	$365.3M	$336.3M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,321	+0.010%	$423.3M	$2.14B	100x	as long as short
Phoenix GOLDlong	+0.0100%	1h	4,320.6	long leg	$47K	$79K	25x
Pacifica XAU	+0.0100%	1h	4,318.2	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,321.5	+0.020%	$272K	$208K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,320	−0.014%	$32K	—	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.4	+0.019%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,322.9	+0.054%	$278.7M	$425.7M	100x	as long as short
Lighter RH XAU	+0.0112%	1h	4,323	+0.055%	$20.0M	$39.5M	25x	as long as short
edgeX XAUUSDC	+0.0114%	4h	4,321.1	+0.011%	$30.1M	$59.8M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,317.3	−0.075%	$12.9M	$36.6M	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,319.5	−0.025%	$577K	$135K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,323.8	+0.074%	$4.0M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,321.2	+0.014%	$59K	$82K	10x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,321	+0.010%	$67.5M	$118.6M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0217%	1h	4,321.4	+0.019%	$4.3M	$2.0M	20x	as long as short
OKX XAU-USDT-SWAP	+0.0296%	8h	4,322.7	+0.049%	$173.2M	$300.9M	100x	as long as short
HTX XAU-USDT	+0.0303%	4h	4,328.5	+0.182%	$3.2M	$5.8M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0306%	1h	4,320.6	0.000%	$190K	$840K	25x	as long as short
Phemex XAUUSDT	+0.0327%	4h	4,325.3	+0.109%	$2.2M	$976K	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,322.3	+0.040%	$16.3M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,321.3	+0.015%	$252K	—	111x	as long as short