Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.001%

Price spread now: Phoenix against Aster−0.084%85s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 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

Funding pays, the price is against you. Phoenix is 0.084% cheaper against Aster than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.1 days of funding at the current rate (+$2 a day). The two prices were read 85 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	Aster XAUUSD1	4,377.3	0	get 0.0000% / 4h	3h 52m	$72.0M	$212.6M	20x
Short	Phoenix GOLD	4,373.6	0.0055	get 0.0007% / 1h	52m 06s	$48K	$64K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.084%Rate

Funding earned: $11.53
Price spread: −0.084% → 0.000%: −$8.43
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$11.9
Costs to cover: 0.150%
Break-even: 14.2 days

Slippage unknown: Aster: live order book, 2 min ago; Phoenix: no order-book sample. 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 Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	6.5 bp −$65	24.1 bp −$2,411	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 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
Aster XAUUSD1long	0.0000%	4h	4,377.3	long leg	$72.0M	$212.6M	20x
Binance XAUUSDT	0.0000%	4h	4,376.3	−0.022%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,377.3	−0.001%	$266.6M	$407.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,376.3	−0.023%	$374.6M	$320.9M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,376.3	−0.022%	$69.7M	$114.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,377.8	+0.011%	$48.7M	$28.0M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,373	−0.098%	$4.0M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,379.8	+0.058%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,372.6	−0.106%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,367.4	−0.226%	$30.4M	$59.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOLD-PERP	+0.0024%	1h	4,371.7	−0.128%	$33K	—	25x	as long as short
Bluefin GOLD-PERP	+0.0028%	1h	4,368.5	−0.201%	$26K	$22K	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.614%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,377	−0.007%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.6	−0.039%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,410.2	+0.752%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.9	−0.031%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.9	−0.100%	$294.8M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.1	−0.141%	$14.7M	$57.1M	25x	as long as short
Phoenix GOLDshort	+0.0055%	1h	4,373.6	−0.084%	$48K	$64K	25x
Paradex XAU-USD-PERP	+0.0067%	8h	4,376.2	−0.025%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,375.5	−0.040%	$20.8M	$43.2M	25x	as long as short
Lighter RH XAU	+0.0072%	1h	4,377.9	+0.013%	$20.2M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,374	−0.075%	$162K	$87	10x	as long as short
Extended XAU-USD	+0.0096%	1h	4,372.4	−0.112%	$13.3M	$44.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,374.1	−0.073%	$2.0M	$5.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0099%	1h	4,375	−0.052%	$4.3M	$1.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.105%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,375.3	−0.045%	$278K	$204K	50x	as long as short
Bybit XAUUSDT	+0.0119%	4h	4,377.6	+0.008%	$83.1M	$144.3M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0167%	8h	4,377.8	+0.012%	$160.9M	$280.7M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0185%	1h	4,374.7	−0.059%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0195%	1h	4,376.4	−0.020%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.4	−0.089%	$596K	$154K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,376.6	−0.015%	$14.8M	$4.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0244%	4h	4,378.5	+0.027%	$1.4M	$3.1M	25x	as long as short
Phemex XAUUSDT	+0.0256%	4h	4,377	−0.006%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376.7	−0.014%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0546%	4h	4,380.7	+0.078%	$2.9M	$3.8M	75x	as long as short