Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h −0.007%

Price spread now: Phoenix against Binance−0.018%85s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 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: +$1 a day on $10k at the current rate. 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	Binance XAUUSDT	4,355.5	0.0085	pay 0.0042% / 4h	2h 38m	$409.4M	$2.10B	100x
Short	Phoenix GOLD	4,354.7	0.0121	get 0.0015% / 1h	38m 02s	$48K	$64K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now −0.018%Rate

Funding earned: $7.6
Price spread: −0.018% → 0.000%: −$1.84
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$11.24
Costs to cover: 0.170%
Break-even: 17.3 days

Slippage unknown: Binance: live order book, 6 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 Binance live order book, 6 min ago	0.01 bp	5.0 bp −$5	5.1 bp −$51	7.5 bp −$747	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
Bluefin GOLD-PERP	−0.0323%	1h	4,348.4	−0.163%	$25K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356	+0.011%	$69.7M	$290.8M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,358	+0.058%	$263.3M	$407.7M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,353.9	−0.037%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.103%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,351.4	−0.093%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.4	−0.093%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,354.9	−0.014%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.117%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,355.4	−0.002%	$20.6M	$43.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,357.7	+0.051%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.2	+0.774%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,357.8	+0.053%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,353.4	−0.048%	$294.0M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,353.3	−0.051%	$15.0M	$57.7M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,355.8	+0.007%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,353.6	−0.044%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	+0.005%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.9	−0.106%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,356.1	+0.015%	$372.4M	$321.6M	1000x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,356.3	+0.019%	$19K	$5K	5x	as long as short
Binance XAUUSDTlong	+0.0085%	4h	4,355.5	long leg	$409.4M	$2.10B	100x
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.082%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.5	−0.046%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.050%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,354.4	−0.026%	$161K	$87	10x	as long as short
Phoenix GOLDshort	+0.0121%	1h	4,354.7	−0.018%	$48K	$64K	25x
RISEx XAU/USDC	+0.0135%	1h	4,356.4	+0.020%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,357.4	+0.043%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDT	+0.0148%	4h	4,357	+0.034%	$69.3M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,355.4	−0.002%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,353.7	−0.041%	$234K	$661K	25x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,356.5	+0.022%	$84.1M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0225%	8h	4,357.1	+0.037%	$164.9M	$284.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,352.7	−0.065%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.214%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0368%	4h	4,359.7	+0.095%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.3	−0.004%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0527%	4h	4,359.5	+0.092%	$2.9M	$3.9M	75x	as long as short