Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.015%
Price spread now: SoDEX against Derive−0.047%7-day average +0.023% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.052%−$5 on $10k
+Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.047%, 7d avg +0.023%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.070% cheaper against Derive than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.023%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive XAUT-PERP | 4,344.2 | 0.0100 | pay 0.0013% / 1h | 13m 45s | $1.8M | $298K | 10x |
| Short | SoDEX XAUT-USD | 4,342.2 | 0.0050 | get 0.0006% / 1h | 13m 45s | $10.1M | $2.0M | 25x |
Derive XAUT-PERP
SoDEX XAUT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Derive. 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
- −$10.5
- Price spread: −0.047% → +0.023%
- −$7.05
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$31.55
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; SoDEX: live order book, 5 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 Derive no order-book sample | — | — | — | — | — |
| Sell SoDEX live order book, 5 min ago | 0.12 bp | 4.1 bp −$4 | 4.9 bp −$49 | 42.6 bp −$4,256 | doesn't fit |
Derive: 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.
XAUT on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAUTUSD | −0.0328% | 1h | 4,345.8 | +0.035% | $56K | $29K | 20x | as long as short |
| Bitget XAUTUSDT | −0.0048% | 4h | 4,342.9 | −0.030% | $25.8M | $15.3M | 75x | as long as short |
| Variational Omni XAUT | −0.0028% | 4h | 4,346.6 | +0.054% | $33.1M | $3.5M | — | as long as short |
| MEXC XAUT_USDT | −0.0020% | 4h | 4,343.6 | −0.015% | $383.1M | $277.6M | 1000x | as long as short |
| Bybit XAUTUSDT | −0.0020% | 4h | 4,343.5 | −0.017% | $120.1M | $28.2M | 75x | as long as short |
| Gate XAUT_USDT | 0.0000% | 8h | 4,344.6 | +0.008% | $130.4M | $8.2M | 100x | as long as short |
| Injective XAUT/USDC PERP | +0.0033% | 1h | 4,349.8 | +0.128% | $8K | $149K | 30x | as long as short |
| Binance XAUTUSDT | +0.0039% | 4h | 4,343.9 | −0.008% | $35.1M | $45.4M | 75x | as long as short |
| Extended XAUT-USD | +0.0040% | 1h | 4,342.8 | −0.033% | $272K | $215K | 25x | as long as short |
| BingX XAUT-USDT | +0.0040% | 4h | 4,344.5 | +0.005% | — | $17.8M | — | as long as short |
Aftermath Perps XAUTUSD
Bitget XAUTUSDT
Variational Omni XAUT
MEXC XAUT_USDT
Bybit XAUTUSDT
Gate XAUT_USDT
Injective XAUT/USDC PERP
Binance XAUTUSDT
Extended XAUT-USD
BingX XAUT-USDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX XAUT-USDshort | +0.0050% | 1h | 4,342.2 | −0.047% | $10.1M | $2.0M | 25x | |
| Nado XAUT-PERP | +0.0100% | 1h | 4,344.1 | −0.003% | $4.2M | $914K | 10x | as long as short |
| KuCoin XAUTUSDTM | +0.0100% | 4h | 4,345.7 | +0.032% | $11.5M | $2.9M | 75x | as long as short |
| GRVT XAUT_USDT_Perp | +0.0100% | 4h | 4,346.9 | +0.060% | $765 | $107K | 10x | as long as short |
| Orderly PERP_XAUT_USDC_mythos | +0.0100% | 4h | 4,343.6 | −0.015% | $267 | $17K | 10x | as long as short |
| Derive XAUT-PERPlong | +0.0100% | 1h | 4,344.2 | long leg | $1.8M | $298K | 10x | |
| SunX XAUT-USDT | +0.0100% | 4h | 4,350.3 | +0.139% | $3K | $3.3M | 20x | as long as short |
| HTX XAUT-USDT | +0.0100% | 4h | 4,341.8 | −0.056% | $1.8M | $226K | 75x | as long as short |
| BloFin XAUT-USDT | +0.0218% | 4h | 4,344.6 | +0.008% | $2.3M | $1.6M | 75x | as long as short |
| Kraken Futures PF_XAUTUSD | +0.0222% | 1h | 4,345 | +0.019% | $5.7M | $4.5M | 50x | as long as short |
Nado XAUT-PERP
KuCoin XAUTUSDTM
GRVT XAUT_USDT_Perp
Orderly PERP_XAUT_USDC_mythos
SunX XAUT-USDT
HTX XAUT-USDT
BloFin XAUT-USDT
Kraken Futures PF_XAUTUSD