Funding you earn now, next payment 05:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.082%
Price spread now: Deribit against Phemex−0.089%7-day average −0.144% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$830.829% of the position
Funding, last 4 days (all we have)+0.606%+$61 on $10k
+Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.089%, 7d avg −0.144%
=The price spread pays, funding is against you. Deribit is 0.055% dearer against Phemex than usual: you sell high and buy low (spread −0.089% now, against its 7-day average of −0.144%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days. Mind the row above: over the last 4 days funding on this pair paid +0.606%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex XAUUSDT | 4,349.1 | 0.0216 | pay 0.0108% / 4h | 3h 02m | $2.2M | $967K | 100x |
| Short | Deribit GOLD_USDC-PERPETUAL | 4,345.2 | 0.0164 | get 0.0021% / 1h | 2m 57s | $204K | $827K | 25x |
Phemex XAUUSDT
Deribit GOLD_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.85
- Price spread: −0.089% → −0.144%
- $5.45
- Slippage, 4 orders
- −$63.9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$88.3
- Costs to cover
- 0.829%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Deribit: live order book, 51 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, 5 min ago | 1.85 bp | 39.2 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 51 min ago | 0.12 bp | 8.4 bp −$8 | 9.1 bp −$91 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin GOLD-PERP | −0.0015% | 1h | 4,339.2 | −0.228% | $25K | $14K | 20x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,350.8 | +0.040% | $92K | $8.6M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,342.5 | −0.152% | $272K | — | 250x | as long as short |
| RISEx XAU/USDC | +0.0005% | 1h | 4,345.9 | −0.072% | $3.7M | $12.6M | 25x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,342.5 | −0.151% | $13.2M | $37.3M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.031% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,345.3 | −0.087% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,344.7 | −0.100% | $5.6M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,379 | +0.688% | — | $1.0M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,343.1 | −0.137% | $293.8M | $49.1M | 25x | as long as short |
Bluefin GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
RISEx XAU/USDC
Extended XAU-USD
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
tradeXYZ xyz:GOLDShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,342.1 | −0.160% | $15.0M | $56.8M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0052% | 24h | 4,344.6 | −0.103% | $4.3M | $39.3M | 15x | as long as short |
| Lighter XAU | +0.0056% | 1h | 4,345.4 | −0.084% | $20.7M | $34.8M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0056% | 1h | 4,343.1 | −0.137% | $2.1M | $4.7M | 25x | as long as short |
| Gate XAU_USDT | +0.0058% | 4h | 4,347.9 | −0.026% | $268.6M | $419.5M | 100x | as long as short |
| Bybit XAUUSDT | +0.0059% | 4h | 4,347.4 | −0.039% | $80.0M | $152.1M | 150x | as long as short |
| Paradex XAU-USD-PERP | +0.0068% | 8h | 4,345.5 | −0.083% | $19K | $5K | 5x | as long as short |
| Lighter RH XAU | +0.0088% | 1h | 4,348 | −0.024% | $20.2M | $40.3M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,341.5 | −0.174% | $1.4M | $1.1M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,341.7 | −0.170% | $274K | $203K | 50x | as long as short |
| Aster XAUUSD1 | +0.0101% | 4h | 4,346.5 | −0.059% | $71.5M | $331.5M | 20x | as long as short |
| Variational Omni XAU | +0.0105% | 4h | 4,345.4 | −0.085% | $48.3M | $27.6M | — | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,344.6 | −0.102% | $161K | $87 | 10x | as long as short |
| MEXC XAU_USDT | +0.0120% | 4h | 4,346.4 | −0.061% | $370.7M | $322.2M | 1000x | as long as short |
| Binance XAUUSDT | +0.0120% | 4h | 4,346.5 | −0.059% | $418.7M | $2.09B | 100x | as long as short |
| edgeX XAUUSDC | +0.0121% | 4h | 4,342.4 | −0.154% | $30.2M | $58.0M | 50x | as long as short |
| Hotstuff GOLD-PERP | +0.0128% | 1h | 4,342.9 | −0.142% | $33K | — | 25x | as long as short |
| Phoenix GOLD | +0.0136% | 1h | 4,341.7 | −0.169% | $47K | $77K | 25x | as long as short |
| GRVT XAU_USDT_Perp | +0.0142% | 4h | 4,346.6 | −0.056% | $1.4M | $2.9M | 25x | as long as short |
| Deribit GOLD_USDC-PERPETUALshort | +0.0164% | 1h | 4,345.2 | −0.089% | $204K | $827K | 25x | |
| Polymarket Perps GOLD-USD | +0.0202% | 1h | 4,346.2 | −0.066% | $4.2M | $2.0M | 20x | as long as short |
| Bullet GOLD-USD | +0.0205% | 1h | 4,346.5 | −0.059% | $59K | $82K | 10x | as long as short |
| Phemex XAUUSDTlong | +0.0216% | 4h | 4,349.1 | long leg | $2.2M | $967K | 100x | |
| Kraken Futures PF_XAUUSD | +0.0259% | 1h | 4,343.2 | −0.135% | $590K | $135K | 25x | as long as short |
| Bitget XAUUSDT | +0.0276% | 4h | 4,346.8 | −0.053% | $71.1M | $108.9M | 100x | as long as short |
| OKX XAU-USDT-SWAP | +0.0331% | 8h | 4,347.5 | −0.036% | $167.3M | $283.4M | 100x | as long as short |
| BloFin XAU-USDT | +0.0362% | 4h | 4,346.5 | −0.059% | $15.8M | $4.4M | 100x | as long as short |
| HTX XAU-USDT | +0.0378% | 4h | 4,348.7 | −0.010% | $2.8M | $4.6M | 75x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0428% / S −0.0252% | 1h | 4,346.5 | −0.059% | $250K | — | 111x | as long as short |
Ondo Perps XAU-USD.P
Kalshi KXGOLDPERP
Lighter XAU
Coinbase International GOLD-PERP-INTX
Gate XAU_USDT
Bybit XAUUSDT
Paradex XAU-USD-PERP
Lighter RH XAU
Pacifica XAU
ApeX Omni XAUUSDT
Aster XAUUSD1
Variational Omni XAU
Aevo XAU-PERP
MEXC XAU_USDT
Binance XAUUSDT
edgeX XAUUSDC
Hotstuff GOLD-PERP
Phoenix GOLD
GRVT XAU_USDT_Perp
Polymarket Perps GOLD-USD
Bullet GOLD-USD
Kraken Futures PF_XAUUSD
Bitget XAUUSDT
OKX XAU-USDT-SWAP
BloFin XAU-USDT
HTX XAU-USDT
GMX GOLD/USD [ETH-USDC]