Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0283%/8h= +31.0% APRpaid last 24h +0.118%

Price spread now: Phemex against Aevo+0.101%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1151.154% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.216%+$22 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.101%, 7d avg +0.050%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.052% dearer against Aevo than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XAU-PERP	4,327.2	0.0112	pay 0.0014% / 1h	55m 28s	$160K	$87	10x
Short	Phemex XAUUSDT	4,331.6	0.0395	get 0.0198% / 4h	2h 55m	$2.2M	$961K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.101%Rate

Funding earned: $59.53
Price spread: +0.101% → +0.050%: $5.19
Slippage, 4 orders: −$87.37
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$50.64
Costs to cover: 1.154%
Break-even: 13.0 days

Slippage from Aevo: live order book, 38 min ago; Phemex: live order book, 3 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 Aevo live order book, 38 min ago	15.69 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.87 bp	30.4 bp −$30	doesn't fit	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
SunX XAU-USDT	0.0000%	4h	4,331.3	+0.094%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.7	+0.080%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,325.1	−0.048%	$2.0M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.537%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,325.1	−0.048%	$6.6M	$3.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.5	+0.030%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358.2	+0.717%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,323.4	−0.088%	$292.1M	$55.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.4	−0.133%	$15.1M	$57.4M	25x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,329	+0.042%	$4.6M	$13.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0058%	8h	4,325.2	−0.046%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0060%	4h	4,326.8	−0.009%	$74.3M	$273.1M	20x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,323.2	−0.092%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,321.9	−0.122%	$12.7M	$35.7M	25x	as long as short
Variational Omni XAU	+0.0094%	4h	4,326.7	−0.012%	$47.1M	$29.9M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,328.1	+0.021%	$43K	$72K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,327.5	+0.007%	$19.9M	$38.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.3	−0.113%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.6	+0.009%	$284K	$232K	50x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,327.8	+0.013%	$302.8M	$429.6M	100x	as long as short
Lighter XAU	+0.0112%	1h	4,325.4	−0.042%	$20.2M	$29.3M	25x	as long as short
Aevo XAU-PERPlong	+0.0112%	1h	4,327.2	long leg	$160K	$87	10x
MEXC XAU_USDT	+0.0114%	4h	4,325.8	−0.032%	$353.1M	$348.1M	1000x	as long as short
Binance XAUUSDT	+0.0116%	4h	4,325.1	−0.048%	$435.4M	$2.36B	100x	as long as short
Kalshi KXGOLDPERP	+0.0121%	24h	4,329.2	+0.046%	$3.5M	$48.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0122%	1h	4,324.8	−0.055%	$4.3M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0123%	4h	4,325.6	−0.037%	$30.2M	$65.1M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0130%	4h	4,329.2	+0.047%	$1.4M	$3.0M	25x	as long as short
Bybit XAUUSDT	+0.0142%	4h	4,326.5	−0.015%	$81.6M	$170.1M	150x	as long as short
Bullet GOLD-USD	+0.0188%	1h	4,327.8	+0.013%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,325.2	−0.047%	$72.0M	$132.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,325.7	−0.034%	$134K	$782K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,325.9	−0.030%	$170.7M	$355.8M	100x	as long as short
BloFin XAU-USDT	+0.0355%	4h	4,329.7	+0.058%	$16.2M	$5.5M	100x	as long as short
Phemex XAUUSDTshort	+0.0395%	4h	4,331.6	+0.101%	$2.2M	$961K	100x
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,324.7	−0.057%	$582K	$150K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0306%	1h	4,327.8	+0.014%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1112%	4h	4,334.7	+0.173%	$3.2M	$7.0M	75x	as long as short
Bluefin GOLD-PERP	+0.5954%	1h	4,323.3	−0.089%	$25K	$1K	20x	as long as short