Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0314%/8h= +34.4% APRpaid last 24h +0.127%

Price spread now: Phemex against Pacifica+0.137%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$620.624% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.268%+$27 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.137%, 7d avg +0.111%

Together, before fees+0.278%+ Points / potential airdropPacifica: Active · farm board+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.026% dearer against Pacifica than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XAU	4,313.4	0.0100	pay 0.0013% / 1h	10m 05s	$1.4M	$1.2M	10x
Short	Phemex XAUUSDT	4,319.3	0.0414	get 0.0207% / 4h	10m 05s	$2.2M	$949K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.137%Rate

Funding earned: $65.91
Price spread: +0.137% → +0.111%: $2.56
Slippage, 4 orders: −$42.38
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: $6.08
Costs to cover: 0.624%
Break-even: 6.4 days

Slippage from Pacifica: live order book, 4 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 Pacifica live order book, 4 min ago	0.12 bp	4.5 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.08 bp	29.5 bp −$30	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
SunX XAU-USDT	0.0000%	4h	4,320.5	+0.165%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,313	−0.010%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.858%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,315.8	+0.056%	$5.4M	$2.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,349.5	+0.837%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,312.5	−0.021%	$290.6M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,313.8	+0.010%	$15.0M	$55.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0055%	1h	4,311	−0.055%	$25K	$1K	20x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,316.7	+0.077%	$73.0M	$271.8M	20x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,315.9	+0.059%	$2K	$14K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0069%	4h	4,315.4	+0.046%	$77.8M	$153.7M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,315.8	+0.054%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,312.8	−0.014%	$2.0M	$5.1M	25x	as long as short
StandX XAU-USD	+0.0096%	1h	4,319.8	+0.148%	$3.8M	$4.5M	40x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,313	−0.009%	$32K	—	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,315.7	+0.053%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0098%	24h	4,318.2	+0.111%	$3.6M	$45.0M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.071%	$47.1M	$29.0M	—	as long as short
Pacifica XAUlong	+0.0100%	1h	4,313.4	long leg	$1.4M	$1.2M	10x
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.6	+0.050%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,318.2	+0.111%	$19.9M	$40.1M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,311.6	−0.041%	$13.2M	$36.7M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,316.5	+0.071%	$363.2M	$336.1M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,315.2	+0.042%	$429.4M	$2.14B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,316.4	+0.070%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,309.9	−0.080%	$30.0M	$60.5M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,319.3	+0.138%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0116%	4h	4,317.7	+0.100%	$287.7M	$427.8M	100x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,314.5	+0.026%	$70.5M	$120.1M	100x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,316.9	+0.081%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,317.7	+0.100%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,314.1	+0.017%	$574K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0237%	1h	4,315.8	+0.056%	$160K	$877K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0266%	8h	4,315.2	+0.042%	$175.2M	$302.9M	100x	as long as short
BloFin XAU-USDT	+0.0351%	4h	4,317.1	+0.086%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDTshort	+0.0414%	4h	4,319.3	+0.137%	$2.2M	$949K	100x
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0312%	1h	4,316.5	+0.071%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0529%	4h	4,323.7	+0.239%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,316.9	+0.081%	$4.5M	$13.2M	25x	as long as short