Funding you earn now, next payment 09:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.104%
Price spread now: Bullet against Phemex−0.031%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+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 −$9 a day on $10k at the current rate, and Bullet is 0.031% cheaper against Phemex than usual: you would sell low and buy high (−$3 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 | Phemex XAUUSDT | 4,312.6 | 0.0512 | pay 0.0256% / 4h | 3h 20m | $2.2M | $986K | 100x |
| Short | Bullet GOLD-USD | 4,311.3 | 0.0198 | get 0.0025% / 1h | 20m 45s | $58K | $77K | 10x |
Phemex XAUUSDT
Bullet GOLD-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bullet against Phemex. 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
- −$65.91
- Price spread: −0.031% → 0.000%
- −$3.14
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bullet: 4 bp × 2 orders
- −$8
- Net
- −$89.06
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 3 min ago; Bullet: 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 Phemex live order book, 3 min ago | 1.93 bp | 28.5 bp −$29 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bullet no order-book sample | — | — | — | — | — |
Bullet: 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff GOLD-PERP | −0.0016% | 1h | 4,305.9 | −0.156% | $32K | — | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,315.2 | +0.059% | $92K | $6.7M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,305.5 | −0.164% | $273K | — | 250x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.876% | $619 | $54 | 52x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,341.9 | +0.679% | — | $1.0M | 25x | as long as short |
| QFEX GOLD-USD | +0.0046% | 1h | 4,308.5 | −0.096% | $6.6M | $3.1M | 20x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,306.2 | −0.149% | $290.9M | $54.5M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0050% | 1h | 4,307.9 | −0.110% | $4.3M | $1.8M | 20x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,307.5 | −0.120% | $15.0M | $56.0M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0056% | 1h | 4,306.7 | −0.138% | $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 | 4,309.8 | −0.066% | $2K | $13K | 5x | as long as short |
| Aster XAUUSD1 | +0.0069% | 4h | 4,312.2 | −0.009% | $73.6M | $271.5M | 20x | as long as short |
| StandX XAU-USD | +0.0077% | 1h | 4,308.4 | −0.098% | $3.8M | $4.5M | 40x | as long as short |
| Lighter XAU | +0.0080% | 1h | 4,309.4 | −0.074% | $20.2M | $29.6M | 25x | as long as short |
| Phoenix GOLD | +0.0095% | 1h | 4,301.6 | −0.256% | $42K | $86K | 25x | as long as short |
| Extended XAU-USD | +0.0096% | 1h | 4,307 | −0.131% | $13.0M | $36.1M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,306.5 | −0.143% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,301.8 | −0.252% | $273K | $219K | 50x | as long as short |
| Lighter RH XAU | +0.0104% | 1h | 4,312 | −0.015% | $19.8M | $40.6M | 25x | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,310.5 | −0.050% | $160K | $87 | 10x | as long as short |
| Kalshi KXGOLDPERP | +0.0114% | 24h | 4,312.8 | +0.004% | $3.6M | $47.1M | 15x | as long as short |
| Variational Omni XAU | +0.0115% | 4h | 4,311.4 | −0.028% | $46.9M | $29.9M | — | as long as short |
| edgeX XAUUSDC | +0.0117% | 4h | 4,300.7 | −0.276% | $30.0M | $62.5M | 50x | as long as short |
| MEXC XAU_USDT | +0.0122% | 4h | 4,310.5 | −0.050% | $360.1M | $347.6M | 1000x | as long as short |
| RISEx XAU/USDC | +0.0126% | 1h | 4,308.8 | −0.089% | $4.5M | $13.4M | 25x | as long as short |
| Binance XAUUSDT | +0.0130% | 4h | 4,310.8 | −0.044% | $437.2M | $2.26B | 100x | as long as short |
| Bybit XAUUSDT | +0.0141% | 4h | 4,312.3 | −0.008% | $79.7M | $161.2M | 150x | as long as short |
| Gate XAU_USDT | +0.0178% | 4h | 4,313.2 | +0.012% | $302.0M | $436.3M | 100x | as long as short |
| GRVT XAU_USDT_Perp | +0.0188% | 4h | 4,306.4 | −0.145% | $1.4M | $3.1M | 25x | as long as short |
| Bullet GOLD-USDshort | +0.0198% | 1h | 4,311.3 | −0.031% | $58K | $77K | 10x | |
| Bitget XAUUSDT | +0.0202% | 4h | 4,310.7 | −0.045% | $70.3M | $127.3M | 100x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0214% | 1h | 4,310.4 | −0.052% | $133K | $831K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0251% | 8h | 4,311.1 | −0.035% | $170.5M | $341.0M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0328% | 1h | 4,308.6 | −0.094% | $573K | $139K | 25x | as long as short |
| BloFin XAU-USDT | +0.0394% | 4h | 4,311.7 | −0.021% | $16.4M | $5.2M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0465% / S −0.0313% | 1h | 4,311.9 | −0.017% | $254K | — | 111x | as long as short |
| Phemex XAUUSDTlong | +0.0512% | 4h | 4,312.6 | long leg | $2.2M | $986K | 100x | |
| HTX XAU-USDT | +0.1220% | 4h | 4,318.1 | +0.127% | $3.2M | $6.8M | 75x | as long as short |
| Bluefin GOLD-PERP | +0.2471% | 1h | 4,304.6 | −0.186% | $25K | $1K | 20x | as long as short |
Paradex XAU-USD-PERP
Aster XAUUSD1
StandX XAU-USD
Lighter XAU
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
RISEx XAU/USDC
Binance XAUUSDT
Bybit XAUUSDT
Gate XAU_USDT
GRVT XAU_USDT_Perp
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