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: Aevo against Phemex−0.101%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

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

Long on Phemex Short on Aevo

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 against this trade now: funding costs −$9 a day on $10k at the current rate, and Aevo is 0.052% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.050%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,331.6	0.0395	pay 0.0198% / 4h	2h 56m	$2.2M	$961K	100x
Short	Aevo XAU-PERP	4,327.2	0.0112	get 0.0014% / 1h	56m 15s	$160K	$87	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.101%Rate

Funding earned: −$59.53
Price spread: −0.101% → −0.050%: −$5.18
Slippage, 4 orders: −$87.37
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$180.08
Costs to cover: 1.154%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Aevo: live order book, 38 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 Phemex live order book, 2 min ago	0.87 bp	35.2 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Aevo live order book, 38 min ago	15.69 bp	25.4 bp −$25	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	−0.007%	$92K	$6.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.7	−0.021%	$275K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,325.1	−0.150%	$2.0M	$5.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.435%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,326.9	−0.108%	$6.6M	$3.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,332.7	+0.026%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,360.5	+0.668%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,326.2	−0.124%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,324.3	−0.168%	$292.1M	$55.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,323.6	−0.184%	$15.1M	$57.4M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx XAU/USDC	+0.0056%	1h	4,329	−0.060%	$4.6M	$13.6M	25x	as long as short
Paradex XAU-USD-PERP	+0.0058%	8h	4,327	−0.106%	$2K	$13K	5x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,329.1	−0.057%	$74.4M	$273.1M	20x	as long as short
Extended XAU-USD	+0.0088%	1h	4,323.2	−0.193%	$12.7M	$35.8M	25x	as long as short
Variational Omni XAU	+0.0093%	4h	4,332	+0.009%	$47.2M	$30.1M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,333.5	+0.044%	$43K	$67K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,329.2	−0.054%	$19.8M	$38.5M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,323.7	−0.181%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330	−0.036%	$284K	$232K	50x	as long as short
Lighter XAU	+0.0104%	1h	4,326.5	−0.117%	$20.2M	$29.3M	25x	as long as short
Gate XAU_USDT	+0.0104%	4h	4,329.6	−0.047%	$300.4M	$428.9M	100x	as long as short
Aevo XAU-PERPshort	+0.0112%	1h	4,327.2	−0.101%	$160K	$87	10x
MEXC XAU_USDT	+0.0114%	4h	4,327.4	−0.096%	$353.4M	$347.9M	1000x	as long as short
Binance XAUUSDT	+0.0115%	4h	4,327.8	−0.088%	$435.6M	$2.36B	100x	as long as short
Kalshi KXGOLDPERP	+0.0121%	24h	4,329.2	−0.055%	$3.5M	$48.6M	15x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,330.2	−0.032%	$30.3M	$64.9M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0132%	4h	4,331.1	−0.010%	$1.4M	$3.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0132%	1h	4,327	−0.106%	$4.3M	$1.7M	20x	as long as short
Bybit XAUUSDT	+0.0140%	4h	4,328.7	−0.067%	$81.6M	$170.1M	150x	as long as short
Bullet GOLD-USD	+0.0188%	1h	4,327.8	−0.088%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0196%	4h	4,327.6	−0.091%	$72.0M	$132.7M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,325.7	−0.136%	$134K	$782K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0244%	8h	4,328.8	−0.064%	$171.1M	$355.1M	100x	as long as short
BloFin XAU-USDT	+0.0355%	4h	4,329.7	−0.044%	$16.2M	$5.5M	100x	as long as short
Phemex XAUUSDTlong	+0.0395%	4h	4,331.6	long leg	$2.2M	$961K	100x
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,324.7	−0.158%	$582K	$150K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0306%	1h	4,327.8	−0.088%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.1112%	4h	4,334.7	+0.071%	$3.2M	$7.0M	75x	as long as short
Bluefin GOLD-PERP	+0.5954%	1h	4,323.3	−0.190%	$25K	$1K	20x	as long as short