Funding you earn now, next payment 09:00 UTC+0.0432%/8h= +47.3% APRpaid last 24h +0.130%
Price spread now: Phemex against Lighter+0.035%7-day average +0.076% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$580.580% of the position
Funding, last 7 days+0.261%+$26 on $10k
+Price spread, last 4 days (all we have)+0.136%+$14 · spread now +0.035%, 7d avg +0.076%
=Together, before fees+0.396%+ Points / potential airdropLighter: Season 3 · farm board+$40 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phemex is 0.042% cheaper against Lighter than usual: you would sell low and buy high (spread +0.035% now, against its 7-day average of +0.076%). If the spread goes back, that is −$4 on $10k: about 8 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.261% in total) that is about 27 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.261% in total (about 13.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XAU | 4,311.1 | 0.0080 | pay 0.0010% / 1h | 20m 50s | $20.2M | $29.6M | 25x |
| Short | Phemex XAUUSDT | 4,312.6 | 0.0512 | get 0.0256% / 4h | 3h 20m | $2.2M | $986K | 100x |
Lighter XAU
Phemex XAUUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Lighter. 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
- $90.64
- Price spread: +0.035% → +0.076%
- −$4.19
- Slippage, 4 orders
- −$45.96
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $28.5
- Costs to cover
- 0.580%
- Break-even
- 4.8 days
Slippage from Lighter: live order book, 8 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 Lighter live order book, 8 min ago | 0.44 bp | 0.4 bp $0 | 1.4 bp −$14 | 8.7 bp −$870 | 19.9 bp −$9,969 |
| Sell Phemex live order book, 3 min ago | 1.93 bp | 27.7 bp −$28 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff GOLD-PERP | −0.0016% | 1h | 4,305.9 | −0.122% | $32K | — | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,315.2 | +0.094% | $92K | $6.7M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,305.5 | −0.130% | $273K | — | 250x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.911% | $619 | $54 | 52x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,341.9 | +0.714% | — | $1.0M | 25x | as long as short |
| QFEX GOLD-USD | +0.0046% | 1h | 4,308.5 | −0.061% | $6.6M | $3.1M | 20x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,308.3 | −0.066% | $291.0M | $54.5M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0050% | 1h | 4,307.9 | −0.075% | $4.3M | $1.8M | 20x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,306.4 | −0.111% | $15.0M | $56.0M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0056% | 1h | 4,306.7 | −0.103% | $2.0M | $5.1M | 25x | as long as short |
Hotstuff GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Injective XAU/USDC PERP
Vest GC-PERP
QFEX GOLD-USD
tradeXYZ xyz:GOLD
Polymarket Perps GOLD-USD
Ondo Perps XAU-USD.P
Coinbase International GOLD-PERP-INTXShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex XAU-USD-PERP | +0.0062% | 8h | 4,308.9 | −0.051% | $2K | $13K | 5x | as long as short |
| Aster XAUUSD1 | +0.0062% | 4h | 4,312.2 | +0.025% | $73.6M | $271.5M | 20x | as long as short |
| StandX XAU-USD | +0.0077% | 1h | 4,308.4 | −0.064% | $3.8M | $4.5M | 40x | as long as short |
| Lighter XAUlong | +0.0080% | 1h | 4,311.1 | long leg | $20.2M | $29.6M | 25x | |
| Phoenix GOLD | +0.0095% | 1h | 4,301.6 | −0.221% | $42K | $86K | 25x | as long as short |
| Extended XAU-USD | +0.0096% | 1h | 4,308.2 | −0.069% | $13.0M | $36.1M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,305.4 | −0.133% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,301.8 | −0.218% | $273K | $219K | 50x | as long as short |
| Lighter RH XAU | +0.0104% | 1h | 4,313.4 | +0.052% | $19.8M | $40.6M | 25x | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,310.5 | −0.016% | $160K | $87 | 10x | as long as short |
| Kalshi KXGOLDPERP | +0.0114% | 24h | 4,312.8 | +0.039% | $3.6M | $47.1M | 15x | as long as short |
| Variational Omni XAU | +0.0115% | 4h | 4,311.4 | +0.007% | $46.9M | $29.9M | — | as long as short |
| edgeX XAUUSDC | +0.0117% | 4h | 4,300.7 | −0.241% | $30.0M | $62.5M | 50x | as long as short |
| MEXC XAU_USDT | +0.0118% | 4h | 4,311.8 | +0.015% | $360.3M | $347.5M | 1000x | as long as short |
| Binance XAUUSDT | +0.0123% | 4h | 4,310.3 | −0.019% | $437.2M | $2.27B | 100x | as long as short |
| RISEx XAU/USDC | +0.0126% | 1h | 4,308.8 | −0.055% | $4.5M | $13.4M | 25x | as long as short |
| Bybit XAUUSDT | +0.0134% | 4h | 4,311.4 | +0.006% | $79.7M | $161.2M | 150x | as long as short |
| Gate XAU_USDT | +0.0178% | 4h | 4,312.4 | +0.028% | $302.0M | $436.3M | 100x | as long as short |
| GRVT XAU_USDT_Perp | +0.0188% | 4h | 4,306.4 | −0.110% | $1.4M | $3.1M | 25x | as long as short |
| Bullet GOLD-USD | +0.0198% | 1h | 4,311.3 | +0.003% | $58K | $77K | 10x | as long as short |
| Bitget XAUUSDT | +0.0200% | 4h | 4,310 | −0.026% | $70.3M | $127.5M | 100x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0214% | 1h | 4,310.4 | −0.017% | $133K | $831K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0251% | 8h | 4,310.8 | −0.008% | $170.6M | $341.6M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0328% | 1h | 4,308.6 | −0.060% | $573K | $139K | 25x | as long as short |
| BloFin XAU-USDT | +0.0394% | 4h | 4,311.7 | +0.014% | $16.4M | $5.2M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0465% / S −0.0313% | 1h | 4,311.9 | +0.018% | $254K | — | 111x | as long as short |
| Phemex XAUUSDTshort | +0.0512% | 4h | 4,312.6 | +0.035% | $2.2M | $986K | 100x | |
| HTX XAU-USDT | +0.1220% | 4h | 4,318.1 | +0.161% | $3.2M | $6.8M | 75x | as long as short |
| Bluefin GOLD-PERP | +0.2471% | 1h | 4,304.6 | −0.151% | $25K | $1K | 20x | as long as short |
Paradex XAU-USD-PERP
Aster XAUUSD1
StandX XAU-USD
Phoenix GOLD
Extended XAU-USD
Pacifica XAU
ApeX Omni XAUUSDT
Lighter RH XAU
Aevo XAU-PERP
Kalshi KXGOLDPERP
Variational Omni XAU
edgeX XAUUSDC
MEXC XAU_USDT
Binance XAUUSDT
RISEx XAU/USDC
Bybit XAUUSDT
Gate XAU_USDT
GRVT XAU_USDT_Perp
Bullet GOLD-USD
Bitget XAUUSDT
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
Kraken Futures PF_XAUUSD
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT
Bluefin GOLD-PERP