Funding you earn now, next payment 21:00 UTC−0.0077%/8h= −8.4% APRnext payment −$0.10 per $10,000 · paid last 24h −0.015%
Price spread now: Lighter against Phoenix+0.009%104s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.066%−$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 104 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 | 4,343.4 | 0.0109 | pay 0.0014% / 1h | 59m 37s | $47K | $69K | 25x |
| Short | Lighter XAU | 4,343.8 | 0.0032 | get 0.0004% / 1h | 59m 37s | $20.7M | $42.9M | 25x |
Phoenix GOLD
Lighter XAUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$16.09
- Price spread: +0.009% → 0.000%
- $0.85
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$22.24
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Lighter: 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 Lighter live order book, 4 min ago | 0.01 bp | 0.8 bp −$1 | 6.0 bp −$60 | 11.8 bp −$1,176 | 31.2 bp −$15.6K |
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 38 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 | −0.0575% | 1h | 4,338.1 | −0.121% | $26K | $21K | 20x | as long as short |
| Aster XAUUSD1 | 0.0000% | 4h | 4,347.2 | +0.088% | $71.2M | $240.3M | 20x | as long as short |
| Binance XAUUSDT | 0.0000% | 4h | 4,349.1 | +0.131% | $412.0M | $2.11B | 100x | as long as short |
| Bybit XAUUSDT | 0.0000% | 4h | 4,350.2 | +0.157% | $82.7M | $144.9M | 150x | as long as short |
| RISEx XAU/USDC | 0.0000% | 1h | 4,347.9 | +0.104% | $3.4M | $12.6M | 25x | as long as short |
| Gate XAU_USDT | 0.0000% | 4h | 4,348.8 | +0.124% | $272.8M | $404.3M | 100x | as long as short |
| MEXC XAU_USDT | 0.0000% | 4h | 4,346.2 | +0.064% | $372.2M | $345.5M | 1000x | as long as short |
| Bitget XAUUSDT | 0.0000% | 4h | 4,346.5 | +0.071% | $67.3M | $112.1M | 100x | as long as short |
| Variational Omni XAU | 0.0000% | 4h | 4,344.2 | +0.019% | $47.8M | $33.5M | — | as long as short |
| GRVT XAU_USDT_Perp | 0.0000% | 4h | 4,343.9 | +0.012% | $1.4M | $3.3M | 25x | as long as short |
Bluefin GOLD-PERP
Aster XAUUSD1
Binance XAUUSDT
Bybit XAUUSDT
RISEx XAU/USDC
Gate XAU_USDT
MEXC XAU_USDT
Bitget XAUUSDT
Variational Omni XAU
GRVT XAU_USDT_PerpShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXGOLDPERP | 0.0000% | 24h | 4,343.4 | 0.000% | $3.9M | $34.1M | 15x | as long as short |
| Bullet GOLD-USD | 0.0000% | 1h | 4,345.1 | +0.039% | $59K | $84K | 10x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,349.2 | +0.134% | $92K | $10.9M | 20x | as long as short |
| HTX XAU-USDT | 0.0000% | 4h | 4,348.7 | +0.123% | $2.8M | $3.8M | 75x | as long as short |
| edgeX XAUUSDC | +0.0009% | 4h | 4,339.5 | −0.090% | $30.2M | $58.0M | 50x | as long as short |
| Lighter XAUshort | +0.0032% | 1h | 4,343.8 | +0.009% | $20.7M | $42.9M | 25x | |
| Lighter RH XAU | +0.0032% | 1h | 4,345.1 | +0.038% | $20.2M | $40.6M | 25x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,345.6 | +0.052% | $13.2M | $50.5M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.162% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,343.6 | +0.005% | $3.8M | $4.7M | 40x | as long as short |
| tradeXYZ xyz:GOLD | +0.0041% | 1h | 4,341.5 | −0.044% | $292.3M | $53.8M | 25x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,381.7 | +0.882% | — | $995K | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0050% | 1h | 4,342.8 | −0.014% | $4.3M | $2.3M | 20x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,345.8 | +0.054% | $14.3M | $55.0M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0050% | 8h | 4,347.7 | +0.099% | $19K | $6K | 5x | as long as short |
| QFEX GOLD-USD | +0.0052% | 1h | 4,344 | +0.014% | $5.5M | $1.9M | 20x | as long as short |
| Hotstuff GOLD-PERP | +0.0056% | 1h | 4,340.4 | −0.069% | $33K | — | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,340.6 | −0.064% | $2.0M | $5.2M | 25x | as long as short |
| Aevo XAU-PERP | +0.0080% | 1h | 4,342.8 | −0.015% | $161K | $87 | 10x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,343.8 | +0.009% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,342.5 | −0.020% | $272K | $204K | 50x | as long as short |
| Phoenix GOLDlong | +0.0109% | 1h | 4,343.4 | long leg | $47K | $69K | 25x | |
| OKX XAU-USDT-SWAP | +0.0174% | 8h | 4,348.1 | +0.108% | $158.1M | $272.3M | 100x | as long as short |
| BloFin XAU-USDT | +0.0240% | 4h | 4,344.4 | +0.023% | $14.8M | $4.3M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0333% | 1h | 4,341.9 | −0.035% | $599K | $160K | 25x | as long as short |
| Phemex XAUUSDT | +0.0386% | 4h | 4,345.4 | +0.046% | $2.2M | $1.1M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0450% / S −0.0246% | 1h | 4,345.2 | +0.041% | $251K | — | 29x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0695% | 1h | 4,344.2 | +0.018% | $221K | $878K | 25x | as long as short |
Kalshi KXGOLDPERP
Bullet GOLD-USD
SunX XAU-USDT
HTX XAU-USDT
edgeX XAUUSDC
Lighter RH XAU
Extended XAU-USD
Injective XAU/USDC PERP
StandX XAU-USD
tradeXYZ xyz:GOLD
Vest GC-PERP
Polymarket Perps GOLD-USD
Ondo Perps XAU-USD.P
Paradex XAU-USD-PERP
QFEX GOLD-USD
Hotstuff GOLD-PERP
Coinbase International GOLD-PERP-INTX
Aevo XAU-PERP
Pacifica XAU
ApeX Omni XAUUSDT
OKX XAU-USDT-SWAP
BloFin XAU-USDT
Kraken Futures PF_XAUUSD
Phemex XAUUSDT
GMX GOLD/USD [ETH-USDC]
Deribit GOLD_USDC-PERPETUAL