XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0314%/8h= −34.4% APRnext payment −$1.57 per $10,000 · paid last 24h −0.088%

Price spread now: Bybit against Phemex+0.019%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$740.738% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.019%, 7d avg −0.013%

Together, before fees−0.337%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.032% dearer against Phemex than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.013%): +$3 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.274% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,371	0.0314	pay 0.0157% / 4h	14m 13s	$2.2M	$1.1M	100x
Short	Bybit XAUUSDT	4,371.8	0	get 0.0000% / 4h	14m 13s	$82.8M	$142.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$65.97
Price spread: +0.019% → −0.013%: $3.24
Slippage, 4 orders: −$50.84
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$136.56
Costs to cover: 0.738%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bybit: live order book, 5 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, 4 min ago	2.39 bp	27.5 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.01 bp	5.6 bp −$6	6.6 bp −$66	10.0 bp −$1,002	34.6 bp −$17.3K

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	−0.0238%	1h	4,363.2	−0.179%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	−0.016%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.7	+0.015%	$71.9M	$224.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,371.2	+0.003%	$410.8M	$2.14B	100x	as long as short
Bybit XAUUSDTshort	0.0000%	4h	4,371.8	+0.019%	$82.8M	$142.6M	150x
RISEx XAU/USDC	0.0000%	1h	4,372.3	+0.030%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.9	+0.021%	$267.5M	$417.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,371.1	+0.003%	$376.3M	$324.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,371.4	+0.010%	$69.6M	$113.3M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,370.5	−0.012%	$48.5M	$29.3M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,371	+0.001%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,369.1	−0.043%	$4.0M	$36.3M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.5	+0.102%	$93K	$10.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,367.2	−0.087%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,365.9	−0.117%	$30.4M	$59.4M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,371.1	+0.002%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.471%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,370.1	−0.020%	$20.7M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,371.4	+0.009%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,405.7	+0.794%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.6	−0.078%	$294.3M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,368.6	−0.055%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,372.4	+0.033%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0056%	1h	4,372.8	+0.041%	$20.2M	$42.3M	25x	as long as short
Extended XAU-USD	+0.0064%	1h	4,367.3	−0.084%	$13.1M	$45.5M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,368.4	−0.059%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.7	−0.007%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,368.5	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.6	−0.056%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0105%	1h	4,370.8	−0.005%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0112%	1h	4,371.2	+0.005%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,369.3	−0.039%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,372.1	+0.025%	$158.6M	$274.5M	100x	as long as short
HTX XAU-USDT	+0.0191%	4h	4,377.4	+0.146%	$2.9M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.6	−0.055%	$603K	$137K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,370.9	−0.003%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0254%	1h	4,370	−0.023%	$235K	$736K	25x	as long as short
Phemex XAUUSDTlong	+0.0314%	4h	4,371	long leg	$2.2M	$1.1M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,371.2	+0.004%	$252K	—	111x	as long as short