Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.010%
Price spread now: SoDEX against Derive−0.002%7-day average +0.026% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.044%−$4 on $10k
+Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.002%, 7d avg +0.026%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SoDEX is 0.028% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.026%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive XAUT-PERP | 4,349.9 | 0.0100 | pay 0.0013% / 1h | 47m 19s | $1.8M | $175K | 10x |
| Short | SoDEX XAUT-USD | 4,349.8 | 0.0050 | get 0.0006% / 1h | 47m 19s | $10.2M | $2.0M | 25x |
Derive XAUT-PERP
SoDEX XAUT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Derive. 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
- −$10.5
- Price spread: −0.002% → +0.026%
- −$2.78
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$27.28
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; SoDEX: live order book, 2 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 Derive no order-book sample | — | — | — | — | — |
| Sell SoDEX live order book, 2 min ago | 0.12 bp | 4.1 bp −$4 | 4.9 bp −$49 | 42.4 bp −$4,242 | doesn't fit |
Derive: 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.
XAUT on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAUTUSD | −0.0234% | 1h | 4,347.8 | −0.048% | $56K | $33K | 20x | as long as short |
| Bitget XAUTUSDT | −0.0228% | 4h | 4,348.2 | −0.039% | $26.2M | $14.7M | 75x | as long as short |
| Kraken Futures PF_XAUTUSD | −0.0105% | 1h | 4,350.6 | +0.017% | $5.3M | $3.5M | 50x | as long as short |
| Injective XAUT/USDC PERP | −0.0039% | 1h | 4,339.7 | −0.234% | $8K | $119K | 30x | as long as short |
| Gate XAUT_USDT | 0.0000% | 8h | 4,350 | +0.002% | $132.0M | $7.9M | 100x | as long as short |
| SoDEX XAUT-USDshort | +0.0050% | 1h | 4,349.8 | −0.002% | $10.2M | $2.0M | 25x | |
| Variational Omni XAUT | +0.0075% | 4h | 4,345.8 | −0.095% | $33.2M | $3.3M | — | as long as short |
| Binance XAUTUSDT | +0.0092% | 4h | 4,349.1 | −0.018% | $35.4M | $45.4M | 75x | as long as short |
| Extended XAUT-USD | +0.0096% | 1h | 4,348.5 | −0.031% | $272K | $217K | 25x | as long as short |
| Nado XAUT-PERP | +0.0100% | 1h | 4,348 | −0.043% | $4.2M | $977K | 10x | as long as short |
Aftermath Perps XAUTUSD
Bitget XAUTUSDT
Kraken Futures PF_XAUTUSD
Injective XAUT/USDC PERP
Gate XAUT_USDT
Variational Omni XAUT
Binance XAUTUSDT
Extended XAUT-USD
Nado XAUT-PERPShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit XAUTUSDT | +0.0100% | 4h | 4,348 | −0.044% | $120.5M | $26.9M | 75x | as long as short |
| MEXC XAUT_USDT | +0.0100% | 4h | 4,348.2 | −0.039% | $341.6M | $280.4M | 1000x | as long as short |
| KuCoin XAUTUSDTM | +0.0100% | 4h | 4,350.5 | +0.013% | $11.5M | $2.9M | 75x | as long as short |
| BingX XAUT-USDT | +0.0100% | 4h | 4,348.6 | −0.029% | — | $17.7M | — | as long as short |
| GRVT XAUT_USDT_Perp | +0.0100% | 4h | 4,347.6 | −0.053% | $713 | $114K | 10x | as long as short |
| Orderly PERP_XAUT_USDC_mythos | +0.0100% | 4h | 4,348.2 | −0.039% | $267 | $17K | 10x | as long as short |
| Derive XAUT-PERPlong | +0.0100% | 1h | 4,349.9 | long leg | $1.8M | $175K | 10x | |
| SunX XAUT-USDT | +0.0100% | 4h | 4,353.8 | +0.089% | $3K | $3.7M | 20x | as long as short |
| HTX XAUT-USDT | +0.0100% | 4h | 4,346.3 | −0.083% | $1.8M | $230K | 75x | as long as short |
| BloFin XAUT-USDT | +0.0340% | 4h | 4,347.4 | −0.057% | $2.4M | $1.7M | 75x | as long as short |
Bybit XAUTUSDT
MEXC XAUT_USDT
KuCoin XAUTUSDTM
BingX XAUT-USDT
GRVT XAUT_USDT_Perp
Orderly PERP_XAUT_USDC_mythos
SunX XAUT-USDT
HTX XAUT-USDT
BloFin XAUT-USDT