Funding you earn now, next payment 05:00 UTC−0.0120%/8h= −13.2% APRnext payment −$0.15 per $10,000 · paid last 24h −0.048%
Price spread now: Phoenix against Kraken Futures−0.113%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.127%−$13 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phoenix is 0.113% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | Kraken Futures PF_XAUUSD | 4,331.5 | 0.0247 | pay 0.0031% / 1h | 9m 20s | $590K | $130K | 25x |
| Short | Phoenix GOLD | 4,326.6 | 0.0127 | get 0.0016% / 1h | 9m 20s | $47K | $77K | 25x |
Kraken Futures PF_XAUUSD
Phoenix GOLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kraken Futures. 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
- −$25.23
- Price spread: −0.113% → 0.000%
- −$11.26
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$53.49
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 39 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 Kraken Futures live order book, 39 min ago | 2.90 bp | 8.7 bp −$9 | 15.9 bp −$159 | doesn't fit | 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 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 | −0.0052% | 1h | 4,327.8 | −0.086% | $25K | $14K | 20x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,338.3 | +0.157% | $92K | $8.1M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,330.6 | −0.020% | $271K | — | 250x | as long as short |
| Bybit XAUUSDT | +0.0006% | 4h | 4,334.7 | +0.074% | $78.4M | $156.7M | 150x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,330.5 | −0.022% | $13.1M | $36.8M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.437% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,333.7 | +0.051% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0044% | 1h | 4,332.7 | +0.028% | $5.5M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,367 | +0.820% | — | $1.0M | 25x | as long as short |
| Lighter XAU | +0.0048% | 1h | 4,332.8 | +0.030% | $20.4M | $31.8M | 25x | as long as short |
Bluefin GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Bybit XAUUSDT
Extended XAU-USD
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
Lighter XAUShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,330.9 | −0.013% | $292.0M | $51.5M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,330.4 | −0.025% | $15.0M | $56.5M | 25x | as long as short |
| RISEx XAU/USDC | +0.0054% | 1h | 4,335.5 | +0.092% | $3.8M | $12.5M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0063% | 24h | 4,334.7 | +0.074% | $4.0M | $42.2M | 15x | as long as short |
| Gate XAU_USDT | +0.0064% | 4h | 4,335.9 | +0.102% | $272.1M | $417.1M | 100x | as long as short |
| Lighter RH XAU | +0.0072% | 1h | 4,335.3 | +0.087% | $19.9M | $39.0M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,330.9 | −0.013% | $2.0M | $4.8M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0072% | 8h | 4,334.2 | +0.063% | $19K | $5K | 5x | as long as short |
| Aster XAUUSD1 | +0.0097% | 4h | 4,334.9 | +0.079% | $72.3M | $330.2M | 20x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,330.5 | −0.023% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,330 | −0.034% | $273K | $208K | 50x | as long as short |
| Variational Omni XAU | +0.0101% | 4h | 4,331.5 | 0.000% | $46.8M | $28.6M | — | as long as short |
| Hotstuff GOLD-PERP | +0.0104% | 1h | 4,331.4 | −0.002% | $32K | — | 25x | as long as short |
| GRVT XAU_USDT_Perp | +0.0104% | 4h | 4,333.5 | +0.046% | $1.4M | $3.0M | 25x | as long as short |
| MEXC XAU_USDT | +0.0110% | 4h | 4,334.5 | +0.070% | $364.1M | $330.8M | 1000x | as long as short |
| Binance XAUUSDT | +0.0111% | 4h | 4,334.5 | +0.069% | $414.8M | $2.12B | 100x | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,333.3 | +0.042% | $160K | $87 | 10x | as long as short |
| edgeX XAUUSDC | +0.0126% | 4h | 4,327.8 | −0.085% | $30.1M | $60.3M | 50x | as long as short |
| Phoenix GOLDshort | +0.0127% | 1h | 4,326.6 | −0.113% | $47K | $77K | 25x | |
| Bullet GOLD-USD | +0.0160% | 1h | 4,334.7 | +0.074% | $58K | $82K | 10x | as long as short |
| Polymarket Perps GOLD-USD | +0.0177% | 1h | 4,334.4 | +0.068% | $4.2M | $2.0M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0212% | 1h | 4,332.5 | +0.024% | $195K | $827K | 25x | as long as short |
| HTX XAU-USDT | +0.0232% | 4h | 4,336.7 | +0.121% | $2.8M | $5.0M | 75x | as long as short |
| Kraken Futures PF_XAUUSDlong | +0.0247% | 1h | 4,331.5 | long leg | $590K | $130K | 25x | |
| Bitget XAUUSDT | +0.0254% | 4h | 4,333.7 | +0.051% | $68.1M | $119.0M | 100x | as long as short |
| OKX XAU-USDT-SWAP | +0.0331% | 8h | 4,334.4 | +0.068% | $170.5M | $297.5M | 100x | as long as short |
| BloFin XAU-USDT | +0.0359% | 4h | 4,333.3 | +0.043% | $16.0M | $4.5M | 100x | as long as short |
| Phemex XAUUSDT | +0.0387% | 4h | 4,335.2 | +0.087% | $2.2M | $962K | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0460% / S −0.0303% | 1h | 4,334.7 | +0.074% | $253K | — | 111x | as long as short |
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
RISEx XAU/USDC
Kalshi KXGOLDPERP
Gate XAU_USDT
Lighter RH XAU
Coinbase International GOLD-PERP-INTX
Paradex XAU-USD-PERP
Aster XAUUSD1
Pacifica XAU
ApeX Omni XAUUSDT
Variational Omni XAU
Hotstuff GOLD-PERP
GRVT XAU_USDT_Perp
MEXC XAU_USDT
Binance XAUUSDT
Aevo XAU-PERP
edgeX XAUUSDC
Bullet GOLD-USD
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
HTX XAU-USDT
Bitget XAUUSDT
OKX XAU-USDT-SWAP
BloFin XAU-USDT
Phemex XAUUSDT
GMX GOLD/USD [ETH-USDC]