XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0154%/8h= −16.9% APRnext payment −$0.77 per $10,000 · paid last 24h −0.094%

Price spread now: Bitget against Phemex−0.051%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.051%, 7d avg −0.026%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.025% cheaper against Phemex than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,325.9	0.0360	pay 0.0180% / 4h	56m 11s	$2.2M	$975K	100x
Short	Bitget XAUUSDT	4,323.7	0.0206	get 0.0103% / 4h	56m 11s	$68.5M	$118.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$32.32
Price spread: −0.051% → −0.026%: −$2.49
Slippage, 4 orders: −$40.44
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.24
Costs to cover: 0.644%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bitget: 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 Phemex live order book, 2 min ago	2.07 bp	29.1 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.01 bp	6.1 bp −$6	7.2 bp −$72	11.0 bp −$1,100	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
Bluefin GOLD-PERP	−0.0106%	1h	4,318	−0.183%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,328.9	+0.069%	$92K	$7.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,320.3	−0.130%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0026%	4h	4,325.2	−0.017%	$76.9M	$153.9M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.566%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.6	−0.031%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,323	−0.068%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356.6	+0.709%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.3	−0.130%	$291.4M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.3	−0.152%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0056%	1h	4,322.8	−0.072%	$20.3M	$28.8M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,320.6	−0.123%	$32K	—	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,326.1	+0.004%	$72.7M	$272.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.3	−0.153%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,322.8	−0.071%	$2K	$14K	5x	as long as short
Kalshi KXGOLDPERP	+0.0086%	24h	4,325.2	−0.017%	$3.8M	$44.2M	15x	as long as short
Variational Omni XAU	+0.0094%	4h	4,321.5	−0.103%	$47.2M	$29.1M	—	as long as short
GRVT XAU_USDT_Perp	+0.0098%	4h	4,321.8	−0.095%	$1.4M	$3.0M	25x	as long as short
Phoenix GOLD	+0.0100%	1h	4,319.5	−0.149%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,320	−0.137%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,324.4	−0.035%	$365.0M	$324.5M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,318.8	−0.166%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,324.5	−0.034%	$424.7M	$2.14B	100x	as long as short
Gate XAU_USDT	+0.0102%	4h	4,325.7	−0.005%	$279.4M	$408.2M	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323.4	−0.059%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,319	−0.161%	$30.1M	$59.2M	50x	as long as short
Lighter RH XAU	+0.0112%	1h	4,325.5	−0.011%	$20.0M	$38.5M	25x	as long as short
Extended XAU-USD	+0.0136%	1h	4,320.2	−0.133%	$13.0M	$36.3M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0190%	1h	4,322.6	−0.077%	$163K	$861K	25x	as long as short
Bullet GOLD-USD	+0.0190%	1h	4,324.6	−0.031%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0203%	1h	4,324.4	−0.035%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDTshort	+0.0206%	4h	4,323.7	−0.051%	$68.5M	$118.1M	100x
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,321.5	−0.104%	$578K	$136K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0292%	8h	4,324.3	−0.038%	$173.3M	$300.1M	100x	as long as short
BloFin XAU-USDT	+0.0340%	4h	4,324.8	−0.025%	$16.4M	$4.6M	100x	as long as short
HTX XAU-USDT	+0.0346%	4h	4,330.3	+0.100%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDTlong	+0.0360%	4h	4,325.9	long leg	$2.2M	$975K	100x
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,324.6	−0.031%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,326.2	+0.007%	$4.1M	$12.9M	25x	as long as short