Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.137%

Price spread now: Phemex against StandX+0.006%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$810.805% of the position

Long on StandX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.300%+$30 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now +0.006%, 7d avg +0.020%

Together, before fees+0.360%+ Points / potential airdropStandX: Active · farm board+$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX XAU-USD	4,343.7	0.0040	pay 0.0005% / 1h	45m 43s	$3.8M	$4.5M	40x
Short	Phemex XAUUSDT	4,343.9	0.0177	get 0.0088% / 4h	3h 45m	$2.2M	$967K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against StandX. 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 StandXbpFee PhemexbpOrdersPrice spread, now +0.006%Rate

Funding earned: $28.77
Price spread: +0.006% → +0.020%: −$1.48
Slippage, 4 orders: −$60.52
Fee StandX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$53.24
Costs to cover: 0.805%
Break-even: 20.0 days

Slippage from StandX: live order book, 3 min ago; Phemex: live order book, 3 min ago.

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 StandX live order book, 3 min ago	1.84 bp	5.8 bp −$6	6.4 bp −$64	8.9 bp −$893	10.4 bp −$5,220
Sell Phemex live order book, 3 min ago	0.85 bp	30.7 bp −$31	doesn't fit	doesn't fit	doesn't fit

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	−0.0020%	1h	4,336.3	−0.172%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,347.5	+0.087%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,339.4	−0.098%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,340.8	−0.066%	$3.5M	$12.1M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,343.1	−0.014%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,337.7	−0.138%	$13.3M	$37.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.155%	$619	$54	52x	as long as short
StandX XAU-USDlong	+0.0040%	1h	4,343.7	long leg	$3.8M	$4.5M	40x
QFEX GOLD-USD	+0.0042%	1h	4,342.1	−0.037%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.8	+0.739%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,340.9	−0.064%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.1	−0.106%	$293.4M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.9	−0.133%	$15.1M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,340.4	−0.076%	$4.3M	$37.5M	15x	as long as short
Gate XAU_USDT	+0.0052%	4h	4,344.9	+0.026%	$267.9M	$412.1M	100x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,340.1	−0.083%	$33K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,340.1	−0.083%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0069%	4h	4,342	−0.040%	$80.5M	$150.6M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,342.9	−0.019%	$71.4M	$332.4M	20x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,341.1	−0.059%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,342.7	−0.022%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,338.2	−0.127%	$1.4M	$1.1M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,341.5	−0.051%	$372.3M	$317.5M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337	−0.155%	$274K	$203K	50x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,336.2	−0.173%	$30.2M	$58.3M	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,341.9	−0.042%	$414.9M	$2.09B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342.6	−0.025%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.3	−0.124%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0166%	4h	4,341.6	−0.048%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDTshort	+0.0177%	4h	4,343.9	+0.006%	$2.2M	$967K	100x
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,341.8	−0.044%	$205K	$826K	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343.6	−0.002%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0220%	1h	4,343.4	−0.007%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0244%	4h	4,341.6	−0.047%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	−0.079%	$592K	$132K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0317%	8h	4,342.5	−0.028%	$166.3M	$281.5M	100x	as long as short
BloFin XAU-USDT	+0.0352%	4h	4,343.4	−0.007%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0252%	1h	4,343.5	−0.005%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0549%	4h	4,347.6	+0.089%	$2.8M	$4.6M	75x	as long as short