Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0054%/8h= +6.0% APRpaid last 24h +0.001%

Price spread now: Phoenix against Variational Omni+0.049%54s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.049% dearer against Variational Omni 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 54 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	Variational Omni XAU	4,319.1	0.0070	pay 0.0035% / 4h	50m 33s	$47.0M	$28.1M	—
Short	Phoenix GOLD	4,321.2	0.0124	get 0.0015% / 1h	50m 33s	$43K	$71K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now +0.049%Rate

Funding earned: $11.42
Price spread: +0.049% → 0.000%: $4.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $9.28
Costs to cover: 0.070%
Break-even: 1.3 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phoenix: 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 Variational Omni RFQ quote, 2 min ago	1.54 bp	doesn't fit	1.8 bp −$18	3.7 bp −$374	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 exchanges

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
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,318	−0.025%	$2.1M	$5.0M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,325.9	+0.157%	$92K	$5.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,316.6	−0.057%	$309K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,319.6	+0.012%	$35K	$3K	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.725%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.8	+0.109%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,319	−0.002%	$6.7M	$3.3M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.2	+0.836%	—	$1.0M	25x	as long as short
Aster XAUUSD1	+0.0046%	4h	4,322.4	+0.077%	$71.3M	$276.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,317	−0.048%	$15.2M	$59.1M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0056%	8h	4,318.9	−0.005%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,320.8	+0.040%	$4.7M	$13.4M	25x	as long as short
Variational Omni XAUlong	+0.0070%	4h	4,319.1	long leg	$47.0M	$28.1M	—
Gate XAU_USDT	+0.0074%	4h	4,322	+0.068%	$302.3M	$433.7M	100x	as long as short
tradeXYZ xyz:GOLD	+0.0083%	1h	4,316.9	−0.051%	$291.6M	$45.6M	25x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,319.9	+0.019%	$358.3M	$350.1M	1000x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,319.8	+0.015%	$30.2M	$66.4M	50x	as long as short
Binance XAUUSDT	+0.0086%	4h	4,321.2	+0.048%	$442.1M	$2.43B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0094%	4h	4,323.1	+0.093%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,317	−0.049%	$1.4M	$1.4M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.7	+0.014%	$286K	$227K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,316.2	−0.066%	$25K	$1K	20x	as long as short
Lighter XAU	+0.0104%	1h	4,318.5	−0.014%	$20.0M	$30.1M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,320.1	+0.024%	$160K	$87	10x	as long as short
Phoenix GOLDshort	+0.0124%	1h	4,321.2	+0.049%	$43K	$71K	25x
Kalshi KXGOLDPERP	+0.0146%	24h	4,322.7	+0.083%	$3.5M	$51.6M	15x	as long as short
Lighter RH XAU	+0.0160%	1h	4,321.4	+0.052%	$19.5M	$39.0M	25x	as long as short
Bybit XAUUSDT	+0.0160%	4h	4,322.6	+0.081%	$82.9M	$166.8M	150x	as long as short
Kraken Futures PF_XAUUSD	+0.0197%	1h	4,319	−0.001%	$582K	$166K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,320.3	+0.028%	$72.9M	$140.3M	100x	as long as short
Phemex XAUUSDT	+0.0206%	4h	4,324.4	+0.124%	$2.2M	$733K	100x	as long as short
Extended XAU-USD	+0.0224%	1h	4,315.4	−0.086%	$12.5M	$34.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0226%	8h	4,322.2	+0.072%	$171.0M	$361.7M	100x	as long as short
Bullet GOLD-USD	+0.0227%	1h	4,322.4	+0.076%	$59K	$77K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,318.8	−0.007%	$135K	$659K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0237%	1h	4,322.1	+0.069%	$4.3M	$1.7M	20x	as long as short
BloFin XAU-USDT	+0.0324%	4h	4,322.3	+0.073%	$16.5M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0258%	1h	4,321.4	+0.053%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1032%	4h	4,328.8	+0.225%	$3.2M	$7.1M	75x	as long as short