Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.006%

Price spread now: Aster against Phoenix+0.057%55s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.057% dearer against Phoenix than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.070% in total) that is about 5.7 days. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOLD	4,334.2	0.0127	pay 0.0016% / 1h	46m 28s	$43K	$71K	25x
Short	Aster XAUUSD1	4,336.7	0.0057	get 0.0028% / 4h	1h 46m	$72.4M	$276.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$14.8
Price spread: +0.057% → 0.000%: $5.66
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.14
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Aster: live order book, 6 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 Phoenix no order-book sample	—	—	—	—	—
Sell Aster live order book, 6 min ago	0.01 bp	4.2 bp −$4	4.7 bp −$47	38.7 bp −$3,866	doesn't fit

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 exchanges

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
Hotstuff GOLD-PERP	−3.2000%	1h	4,318.3	−0.367%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0059%	1h	4,331.1	−0.072%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,340.7	+0.150%	$92K	$5.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,333.4	−0.018%	$2.1M	$5.3M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,333.5	−0.017%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.374%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.2	+0.069%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,334.9	+0.016%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,369	+0.803%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,332.3	−0.044%	$292.5M	$51.5M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,331.2	−0.068%	$15.1M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,335.4	+0.027%	$2K	$13K	5x	as long as short
Aster XAUUSD1short	+0.0057%	4h	4,336.7	+0.057%	$72.4M	$276.0M	20x
Polymarket Perps GOLD-USD	+0.0067%	1h	4,334.7	+0.012%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0073%	1h	4,335.2	+0.023%	$135K	$707K	25x	as long as short
Variational Omni XAU	+0.0079%	4h	4,338.5	+0.099%	$47.3M	$29.2M	—	as long as short
Lighter XAU	+0.0080%	1h	4,335.3	+0.026%	$20.2M	$30.4M	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,337.1	+0.067%	$298.5M	$444.2M	100x	as long as short
Lighter RH XAU	+0.0088%	1h	4,337.8	+0.082%	$19.7M	$39.9M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0096%	4h	4,337.9	+0.085%	$1.4M	$3.1M	25x	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,336	+0.041%	$368.0M	$352.6M	1000x	as long as short
Binance XAUUSDT	+0.0096%	4h	4,335.3	+0.025%	$442.7M	$2.43B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,332.4	−0.042%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,336.2	+0.045%	$285K	$223K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,335.9	+0.040%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,335.5	+0.030%	$30.3M	$67.5M	50x	as long as short
Bybit XAUUSDT	+0.0120%	4h	4,336.3	+0.049%	$82.4M	$172.6M	150x	as long as short
Extended XAU-USD	+0.0120%	1h	4,332.3	−0.045%	$12.5M	$34.7M	25x	as long as short
Phoenix GOLDlong	+0.0127%	1h	4,334.2	long leg	$43K	$71K	25x
Kalshi KXGOLDPERP	+0.0137%	24h	4,338.7	+0.104%	$3.5M	$51.1M	15x	as long as short
Bullet GOLD-USD	+0.0166%	1h	4,335.3	+0.025%	$59K	$76K	10x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,335.8	+0.037%	$4.7M	$13.2M	25x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,335.4	+0.027%	$72.8M	$139.6M	100x	as long as short
Phemex XAUUSDT	+0.0214%	4h	4,339.6	+0.125%	$2.3M	$784K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0238%	8h	4,336.5	+0.053%	$170.8M	$361.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,333.8	−0.009%	$584K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0338%	4h	4,337.1	+0.066%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,336.9	+0.062%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1085%	4h	4,344.4	+0.235%	$3.2M	$7.1M	75x	as long as short