Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0113%/8h= +12.3% APRpaid last 24h +0.027%

Price spread now: OKX against Phoenix+0.002%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.076%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix GOLD	4,347.8	0.0136	pay 0.0017% / 1h	49m 23s	$47K	$77K	25x
Short	OKX XAU-USDT-SWAP	4,347.9	0.0249	get 0.0249% / 8h	5h 49m	$164.4M	$282.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $23.67
Price spread: +0.002% → 0.000%: $0.23
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $6.9
Costs to cover: 0.170%
Break-even: 5.0 days

Slippage unknown: Phoenix: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.12 bp	5.1 bp −$5	5.8 bp −$58	8.2 bp −$820	14.9 bp −$7,441

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 38 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	−0.0084%	1h	4,342.4	−0.124%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0032%	1h	4,344.6	−0.074%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,348.6	+0.019%	$264.0M	$406.1M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352.7	+0.113%	$92K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.5	−0.121%	$269K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.5	−0.006%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.105%	$13.6M	$40.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.060%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0037%	24h	4,346.2	−0.037%	$4.1M	$36.2M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.035%	$3.8M	$4.6M	40x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380.2	+0.745%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,346.7	−0.025%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,346.1	−0.038%	$20.6M	$41.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,346.7	−0.025%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.3	−0.081%	$293.2M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.8	−0.092%	$15.1M	$57.8M	25x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,347.8	0.000%	$70.0M	$330.3M	20x	as long as short
Lighter RH XAU	+0.0080%	1h	4,348.8	+0.024%	$20.1M	$39.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,347.2	−0.013%	$19K	$5K	5x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.2	−0.083%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,350.6	+0.065%	$275K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,347.9	+0.002%	$48.3M	$27.9M	—	as long as short
Binance XAUUSDT	+0.0108%	4h	4,347	−0.019%	$410.0M	$2.10B	100x	as long as short
Polymarket Perps GOLD-USD	+0.0109%	1h	4,345.9	−0.044%	$4.3M	$1.9M	20x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,347.8	+0.001%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0114%	4h	4,347	−0.020%	$370.7M	$316.3M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0118%	4h	4,349.4	+0.038%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0136%	4h	4,348.4	+0.014%	$30.3M	$58.7M	50x	as long as short
Phoenix GOLDlong	+0.0136%	1h	4,347.8	long leg	$47K	$77K	25x
Bullet GOLD-USD	+0.0201%	1h	4,347	−0.019%	$58K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0202%	4h	4,348	+0.004%	$84.2M	$145.1M	150x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,347.1	−0.017%	$69.7M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAPshort	+0.0249%	8h	4,347.9	+0.002%	$164.4M	$282.4M	100x
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,345.3	−0.058%	$593K	$133K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0279%	1h	4,346	−0.041%	$259K	$703K	25x	as long as short
Phemex XAUUSDT	+0.0343%	4h	4,350.5	+0.062%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0398% / S −0.0207%	1h	4,348.5	+0.016%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0600%	4h	4,353.8	+0.139%	$2.8M	$4.2M	75x	as long as short