Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0042%/8h= +4.7% APRpaid last 24h +0.130%

Price spread now: Phemex against Paradex+0.008%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phemex

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 airdropParadex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XAU-USD-PERP	4,358.8	0.0080	pay 0.0080% / 8h	5h 24m	$19K	$5K	5x
Short	Phemex XAUUSDT	4,359.2	0.0122	get 0.0061% / 4h	1h 24m	$2.2M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now +0.008%Rate

Funding earned: $8.92
Price spread: +0.008% → 0.000%: $0.78
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$6.3
Costs to cover: 0.160%
Break-even: 11.9 days

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 4 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	2.36 bp	31.1 bp −$31	doesn't fit	doesn't fit	doesn't fit

Paradex: 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
SunX XAU-USDT	0.0000%	4h	4,362.7	+0.089%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.4	−0.101%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,359.8	+0.022%	$264.7M	$412.9M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,358.4	−0.009%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,355.1	−0.085%	$13.6M	$38.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.193%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,355.7	−0.072%	$4.1M	$37.0M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.9	+0.002%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,359.3	+0.012%	$70.5M	$333.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.4	+0.747%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,357.2	−0.037%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,354.9	−0.090%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,355.2	−0.083%	$294.2M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355	−0.089%	$15.1M	$57.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	−0.040%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,357.8	−0.023%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,355.6	−0.073%	$48.3M	$27.9M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,360.1	+0.028%	$20.2M	$39.7M	25x	as long as short
Binance XAUUSDT	+0.0074%	4h	4,358.7	−0.002%	$412.1M	$2.10B	100x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,358.7	−0.003%	$372.5M	$318.8M	1000x	as long as short
Paradex XAU-USD-PERPlong	+0.0080%	8h	4,358.8	long leg	$19K	$5K	5x
edgeX XAUUSDC	+0.0093%	4h	4,349.4	−0.216%	$30.3M	$58.3M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,356.7	−0.048%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,355.1	−0.084%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	−0.112%	$275K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,355.2	−0.083%	$33K	—	25x	as long as short
Phemex XAUUSDTshort	+0.0122%	4h	4,359.2	+0.008%	$2.2M	$1.1M	100x
Polymarket Perps GOLD-USD	+0.0126%	1h	4,357.8	−0.023%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.3	−0.195%	$47K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0199%	4h	4,360.3	+0.033%	$84.5M	$145.4M	150x	as long as short
Bullet GOLD-USD	+0.0202%	1h	4,358.2	−0.014%	$60K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,359.3	+0.011%	$70.3M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,359.9	+0.025%	$165.2M	$282.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355.2	−0.083%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0296%	4h	4,356.2	−0.060%	$15.5M	$4.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0301%	1h	4,357.6	−0.028%	$278K	$727K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0213%	1h	4,358.4	−0.010%	$249K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0519%	1h	4,350.2	−0.197%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0567%	4h	4,363.2	+0.100%	$2.9M	$4.2M	75x	as long as short