Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h +0.121%

Price spread now: Phemex against Vest−0.702%7-day average −0.836% · you buy dearer than you sell

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

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.106%+$11 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now −0.702%, 7d avg −0.836%

Together, before fees+0.105%+ Points / potential airdropVest: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phemex is 0.135% dearer against Vest than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.836%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest GC-PERP	4,400.8	0.0046	pay 0.0006% / 1h	40m 54s	—	$1.0M	25x
Short	Phemex XAUUSDT	4,369.9	0.0307	get 0.0153% / 4h	40m 54s	$2.2M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. 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 VestbpFee PhemexbpOrdersPrice spread, now −0.702%Rate

Funding earned: $54.85
Price spread: −0.702% → −0.836%: $13.48
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: $54.33
Costs to cover: 0.140%
Break-even: 0.1 days

Slippage unknown: Vest: no order-book sample; Phemex: live order book, 3 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	2.33 bp	34.1 bp −$34	doesn't fit	doesn't fit	doesn't fit

Vest: 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	−0.0290%	1h	4,360.6	−0.913%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.3	−0.852%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.9	−0.771%	$71.6M	$227.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,366.6	−0.777%	$408.0M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,367	−0.767%	$82.6M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,365.9	−0.792%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,367.2	−0.763%	$268.1M	$408.0M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,366.4	−0.781%	$377.2M	$321.5M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,366.7	−0.774%	$67.0M	$111.2M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	−0.793%	$48.5M	$30.6M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,367.2	−0.764%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,363.6	−0.845%	$4.0M	$35.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,371.2	−0.672%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362.6	−0.869%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,360.5	−0.915%	$30.3M	$58.3M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,365.7	−0.798%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,365.8	−0.795%	$20.8M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,368.1	−0.743%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,363	−0.858%	$13.0M	$46.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−1.145%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.3	−0.784%	$3.8M	$4.7M	40x	as long as short
Bullet GOLD-USD	+0.0041%	1h	4,366.3	−0.784%	$60K	$81K	10x	as long as short
Vest GC-PERPlong	+0.0046%	1h	4,400.8	long leg	—	$1.0M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.9	−0.861%	$293.7M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,365.9	−0.792%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.8	−0.864%	$14.5M	$56.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0071%	1h	4,365	−0.813%	$235K	$735K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0075%	1h	4,366	−0.791%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,365.5	−0.802%	$162K	$87	10x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,363.1	−0.857%	$33K	—	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,363.3	−0.852%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.3	−0.897%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0139%	4h	4,369.8	−0.704%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364	−0.836%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,367	−0.768%	$157.9M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,363.8	−0.840%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.9	−0.771%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDTshort	+0.0307%	4h	4,369.9	−0.702%	$2.2M	$1.1M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,366.3	−0.784%	$252K	—	111x	as long as short