Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0195%/8h= +21.4% APRpaid last 24h +0.077%

Price spread now: BloFin against Phoenix+0.021%7-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 BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.021% dearer against Phoenix than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOLD	4,324.1	0.0127	pay 0.0016% / 1h	55m 01s	$43K	$71K	25x
Short	BloFin XAU-USDT	4,325	0.0322	get 0.0161% / 4h	55m 01s	$16.5M	$5.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.021%Rate

Funding earned: $40.96
Price spread: +0.021% → 0.000%: $2.08
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $24.04
Costs to cover: 0.190%
Break-even: 2.9 days

Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 7 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 BloFin live order book, 7 min ago	0.01 bp	6.1 bp −$6	6.1 bp −$61	7.0 bp −$696	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	−0.0096%	1h	4,321.9	−0.051%	$35K	$3K	25x	as long as short
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,319.5	−0.106%	$2.1M	$5.0M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.2	+0.071%	$92K	$5.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0002%	1h	4,318.2	−0.137%	$307K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.609%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.3	+0.005%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,321.6	−0.058%	$6.7M	$3.3M	20x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,324.9	+0.018%	$71.4M	$276.6M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.9	+0.735%	—	$1.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,318.9	−0.119%	$15.2M	$59.2M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,322.2	−0.044%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,323.1	−0.024%	$4.6M	$13.3M	25x	as long as short
Variational Omni XAU	+0.0065%	4h	4,322.2	−0.044%	$47.1M	$28.0M	—	as long as short
Gate XAU_USDT	+0.0068%	4h	4,325	+0.021%	$298.9M	$431.8M	100x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,323	−0.026%	$362.0M	$348.3M	1000x	as long as short
edgeX XAUUSDC	+0.0082%	4h	4,321.6	−0.059%	$30.2M	$66.3M	50x	as long as short
Binance XAUUSDT	+0.0083%	4h	4,323.3	−0.019%	$440.7M	$2.42B	100x	as long as short
tradeXYZ xyz:GOLD	+0.0085%	1h	4,320.3	−0.088%	$291.8M	$52.0M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0092%	4h	4,325.9	+0.041%	$1.4M	$3.1M	25x	as long as short
Lighter XAU	+0.0096%	1h	4,321.9	−0.052%	$20.1M	$29.9M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,320.2	−0.090%	$1.4M	$1.4M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.5	+0.009%	$287K	$227K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,317.9	−0.145%	$25K	$1K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.7	−0.056%	$160K	$87	10x	as long as short
Phoenix GOLDlong	+0.0127%	1h	4,324.1	long leg	$43K	$71K	25x
Lighter RH XAU	+0.0144%	1h	4,324.6	+0.011%	$19.5M	$38.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0145%	24h	4,323.3	−0.019%	$3.5M	$51.6M	15x	as long as short
Bybit XAUUSDT	+0.0154%	4h	4,324.1	−0.001%	$82.9M	$166.9M	150x	as long as short
Kraken Futures PF_XAUUSD	+0.0197%	1h	4,320	−0.094%	$582K	$166K	25x	as long as short
Extended XAU-USD	+0.0200%	1h	4,318.7	−0.124%	$12.5M	$34.0M	25x	as long as short
Bitget XAUUSDT	+0.0200%	4h	4,323.3	−0.018%	$73.0M	$140.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,320.7	−0.079%	$135K	$659K	25x	as long as short
Phemex XAUUSDT	+0.0213%	4h	4,326	+0.044%	$2.2M	$733K	100x	as long as short
Bullet GOLD-USD	+0.0219%	1h	4,322.7	−0.032%	$59K	$77K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0226%	8h	4,323.4	−0.016%	$170.8M	$361.4M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0228%	1h	4,322.7	−0.032%	$4.3M	$1.7M	20x	as long as short
BloFin XAU-USDTshort	+0.0322%	4h	4,325	+0.021%	$16.5M	$5.2M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0425% / S −0.0258%	1h	4,322.7	−0.033%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1029%	4h	4,330	+0.137%	$3.2M	$7.1M	75x	as long as short