Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0193%/8hnext payment −$0.96 per $10,000 · paid last 24h −0.081%

Price spread now: Aster against Phemex−0.074%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$750.752% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.280%−$28 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now −0.074%, 7d avg −0.023%

Together, before fees−0.263%+ Points / potential airdropAster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aster is 0.051% cheaper against Phemex than usual: you would sell low and buy high (−$5 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	Phemex XAUUSDT	4,358.4	0.0339	pay 0.0170% / 4h	21m 45s	$2.2M	$1.1M	100x
Short	Aster XAUUSD1	4,355.1	0.0147	get 0.0073% / 4h	21m 45s	$70.3M	$240.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$40.49
Price spread: −0.074% → −0.023%: −$5.1
Slippage, 4 orders: −$55.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$120.81
Costs to cover: 0.752%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Aster: live order book, 2 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 Phemex live order book, 1 min ago	1.88 bp	29.7 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	5.6 bp −$56	170.6 bp −$17.1K	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	4,360.2	+0.043%	$93K	$11.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.8	−0.128%	$267K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.182%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0034%	24h	4,354.9	−0.079%	$4.0M	$32.3M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,356.2	−0.049%	$3.8M	$4.4M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.7	+0.742%	—	$995K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.4	−0.137%	$294.0M	$51.6M	25x	as long as short
QFEX GOLD-USD	+0.0050%	1h	4,354.8	−0.081%	$5.5M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.8	−0.151%	$14.9M	$51.2M	25x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,356.6	−0.040%	$19K	$6K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XAU_USDT	+0.0070%	4h	4,356.8	−0.036%	$273.6M	$406.5M	100x	as long as short
Lighter XAU	+0.0072%	1h	4,355.3	−0.070%	$20.8M	$46.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,353.9	−0.102%	$2.0M	$5.2M	25x	as long as short
RISEx XAU/USDC	+0.0100%	1h	4,356.4	−0.045%	$3.6M	$12.3M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.5	−0.111%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352	−0.147%	$273K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,350.2	−0.188%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,353.4	−0.114%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0112%	1h	4,351.6	−0.156%	$13.2M	$51.2M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,356	−0.054%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0113%	1h	4,356	−0.054%	$59K	$77K	10x	as long as short
Variational Omni XAU	+0.0134%	4h	4,355.3	−0.069%	$47.7M	$34.5M	—	as long as short
MEXC XAU_USDT	+0.0138%	4h	4,354.9	−0.080%	$379.3M	$334.4M	1000x	as long as short
Binance XAUUSDT	+0.0140%	4h	4,355.1	−0.075%	$415.2M	$2.07B	100x	as long as short
Aster XAUUSD1short	+0.0147%	4h	4,355.1	−0.074%	$70.3M	$240.4M	20x
Phoenix GOLD	+0.0151%	1h	4,353.7	−0.107%	$43K	$64K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0156%	4h	4,356	−0.053%	$1.4M	$3.4M	25x	as long as short
edgeX XAUUSDC	+0.0156%	4h	4,352	−0.146%	$30.3M	$56.7M	50x	as long as short
Lighter RH XAU	+0.0160%	1h	4,357.8	−0.013%	$20.4M	$44.8M	25x	as long as short
Bybit XAUUSDT	+0.0172%	4h	4,355.9	−0.057%	$84.1M	$140.1M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,354.8	−0.081%	$222K	$959K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0198%	1h	4,356.7	−0.038%	$4.4M	$2.3M	20x	as long as short
Bitget XAUUSDT	+0.0268%	4h	4,354.5	−0.089%	$69.0M	$109.3M	100x	as long as short
HTX XAU-USDT	+0.0283%	4h	4,358.3	0.000%	$2.8M	$3.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0313%	8h	4,356.3	−0.047%	$158.2M	$269.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,354.3	−0.093%	$588K	$108K	25x	as long as short
Phemex XAUUSDTlong	+0.0339%	4h	4,358.4	long leg	$2.2M	$1.1M	100x
BloFin XAU-USDT	+0.0380%	4h	4,356	−0.054%	$14.9M	$4.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0457% / S −0.0291%	1h	4,356	−0.053%	$251K	—	111x	as long as short