Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.077%

Price spread now: Phoenix against BloFin−0.082%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phoenix is 0.082% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAU-USDT	4,324.6	0.0322	pay 0.0161% / 4h	5m 52s	$16.5M	$5.3M	100x
Short	Phoenix GOLD	4,321.1	0.0124	get 0.0015% / 1h	5m 52s	$43K	$71K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$41.67
Price spread: −0.082% → 0.000%: −$8.16
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$68.83
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: 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 BloFin live order book, 6 min ago	0.01 bp	6.0 bp −$6	6.0 bp −$60	6.3 bp −$632	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 exchanges

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
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,320.6	−0.093%	$2.1M	$4.8M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,329.1	+0.102%	$92K	$5.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0002%	1h	4,320.8	−0.088%	$308K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.596%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.7	+0.002%	$3.9M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,323.3	−0.031%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,357.7	+0.765%	—	$919K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.9	−0.086%	$293.5M	$47.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.2	−0.078%	$15.2M	$61.3M	25x	as long as short
Aster XAUUSD1	+0.0051%	4h	4,325.6	+0.022%	$70.4M	$278.2M	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0056%	8h	4,323.8	−0.020%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,325.3	+0.015%	$4.6M	$13.2M	25x	as long as short
Variational Omni XAU	+0.0076%	4h	4,323.5	−0.027%	$47.3M	$27.6M	—	as long as short
Gate XAU_USDT	+0.0080%	4h	4,325.2	+0.013%	$306.7M	$446.8M	100x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,323.7	−0.022%	$341.9M	$363.3M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,323.6	−0.024%	$445.3M	$2.43B	100x	as long as short
Lighter XAU	+0.0088%	1h	4,323	−0.039%	$20.0M	$31.0M	25x	as long as short
edgeX XAUUSDC	+0.0089%	4h	4,320.7	−0.090%	$30.3M	$67.1M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,322.2	−0.056%	$1.4M	$1.5M	10x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,324.7	+0.002%	$1.4M	$3.1M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,321.2	−0.079%	$287K	$228K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,318.3	−0.146%	$25K	$1K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323.7	−0.021%	$160K	$87	10x	as long as short
Phoenix GOLDshort	+0.0124%	1h	4,321.1	−0.082%	$43K	$71K	25x
Phemex XAUUSDT	+0.0127%	4h	4,325.8	+0.027%	$2.3M	$736K	100x	as long as short
Lighter RH XAU	+0.0144%	1h	4,325.8	+0.027%	$19.6M	$40.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0154%	24h	4,325.6	+0.022%	$3.5M	$52.2M	15x	as long as short
Bybit XAUUSDT	+0.0156%	4h	4,324.7	+0.001%	$84.4M	$169.1M	150x	as long as short
Extended XAU-USD	+0.0160%	1h	4,319.5	−0.118%	$12.6M	$34.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0176%	1h	4,321.6	−0.070%	$35K	$3K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0197%	1h	4,321.9	−0.064%	$583K	$169K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,322.8	−0.042%	$135K	$658K	25x	as long as short
Bitget XAUUSDT	+0.0214%	4h	4,323.9	−0.016%	$73.4M	$142.6M	100x	as long as short
Bullet GOLD-USD	+0.0219%	1h	4,324.8	+0.004%	$60K	$77K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,325.3	+0.015%	$4.3M	$1.7M	20x	as long as short
OKX XAU-USDT-SWAP	+0.0230%	8h	4,324.5	−0.003%	$171.8M	$362.7M	100x	as long as short
BloFin XAU-USDTlong	+0.0322%	4h	4,324.6	long leg	$16.5M	$5.3M	100x
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0259%	1h	4,325.2	+0.012%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0988%	4h	4,328	+0.078%	$3.2M	$7.1M	75x	as long as short