Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h +0.016%

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

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

Long on Paradex Short on Phoenix

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: $0 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	4,375.7	0.0071	pay 0.0071% / 8h	7h 45m	$19K	$5K	5x
Short	Phoenix GOLD	4,375.3	0.0055	get 0.0007% / 1h	45m 18s	$48K	$64K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$3.4
Price spread: −0.008% → 0.000%: −$0.83
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$15.23
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Paradex and 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	−0.0105%	1h	4,368.8	−0.157%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0080%	1h	4,372	−0.084%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.1	+0.009%	$71.2M	$206.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.8	+0.003%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.5	+0.018%	$266.4M	$410.5M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.6	−0.001%	$375.7M	$321.6M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	−0.013%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,372.2	−0.079%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,380	+0.100%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.4	−0.097%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	+0.0008%	4h	4,376	+0.007%	$69.7M	$113.9M	100x	as long as short
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.102%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.577%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376	+0.008%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	−0.013%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.8	+0.780%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,376	+0.008%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.8	−0.088%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.5	−0.096%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLDshort	+0.0055%	1h	4,375.3	−0.008%	$48K	$64K	25x
Paradex XAU-USD-PERPlong	+0.0071%	8h	4,375.7	long leg	$19K	$5K	5x
Lighter XAU	+0.0072%	1h	4,374.9	−0.017%	$20.8M	$43.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	−0.015%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0088%	1h	4,377.3	+0.038%	$20.3M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	−0.079%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.068%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,374	−0.038%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0113%	1h	4,375.2	−0.011%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0128%	1h	4,371.3	−0.099%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.018%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0175%	8h	4,377.5	+0.042%	$166.3M	$287.1M	100x	as long as short
Bybit XAUUSDT	+0.0182%	4h	4,376.5	+0.020%	$83.4M	$144.0M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0185%	1h	4,373.5	−0.049%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	−0.002%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.1	−0.059%	$596K	$145K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	−0.019%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.6	−0.002%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0474%	4h	4,378.2	+0.059%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,380.4	+0.107%	$2.9M	$3.8M	75x	as long as short