XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0033%/8h= +3.6% APRnext payment +$0.16 per $10,000 · paid last 24h −0.117%

Price spread now: Bybit against Phemex−0.036%53s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.742% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now −0.036%, 7d avg −0.014%

Together, before fees−0.308%−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.023% cheaper against Phemex than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of −0.014%). If the spread goes back, that is −$2 on $10k: about 2.3 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.272%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,349.7	0.0205	pay 0.0103% / 4h	35m 23s	$2.2M	$967K	100x
Short	Bybit XAUUSDT	4,348.1	0.0238	get 0.0119% / 4h	35m 23s	$85.0M	$144.9M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.036%Rate

Funding earned: $6.84
Price spread: −0.036% → −0.014%: −$2.28
Slippage, 4 orders: −$51.25
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.69
Costs to cover: 0.742%
Break-even: 78.3 days

Slippage from Phemex: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago	2.28 bp	28.1 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	5.8 bp −$58	9.6 bp −$960	32.9 bp −$16.4K

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
RISEx XAU/USDC	0.0000%	1h	4,346.2	−0.081%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.2	+0.012%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343	−0.155%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0008%	4h	4,347.5	−0.052%	$267.7M	$411.8M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,344.5	−0.120%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.6	−0.162%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.016%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,346.6	−0.071%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.7	−0.046%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,345.8	−0.090%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0045%	24h	4,346	−0.085%	$4.1M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.5	+0.685%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.1	−0.152%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343	−0.154%	$293.7M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.4	−0.168%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,347.3	−0.056%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0080%	4h	4,346.7	−0.069%	$48.5M	$27.8M	—	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,345.5	−0.097%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0088%	4h	4,348.2	−0.034%	$1.4M	$3.0M	25x	as long as short
Binance XAUUSDT	+0.0094%	4h	4,346.7	−0.070%	$414.1M	$2.09B	100x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,346.2	−0.082%	$372.6M	$317.6M	1000x	as long as short
edgeX XAUUSDC	+0.0095%	4h	4,343.4	−0.145%	$30.2M	$58.3M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.6	−0.163%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.8	−0.067%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,345.6	−0.093%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	−0.055%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0152%	1h	4,345.8	−0.090%	$4.3M	$1.9M	20x	as long as short
Hotstuff GOLD-PERP	+0.0160%	1h	4,343.7	−0.138%	$33K	—	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,343.4	−0.145%	$592K	$132K	25x	as long as short
Bullet GOLD-USD	+0.0203%	1h	4,346.3	−0.079%	$59K	$82K	10x	as long as short
Phemex XAUUSDTlong	+0.0205%	4h	4,349.7	long leg	$2.2M	$967K	100x
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,345.3	−0.101%	$243K	$789K	25x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,347.2	−0.058%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDTshort	+0.0238%	4h	4,348.1	−0.036%	$85.0M	$144.9M	150x
OKX XAU-USDT-SWAP	+0.0284%	8h	4,348.1	−0.037%	$165.5M	$281.7M	100x	as long as short
Bluefin GOLD-PERP	+0.0285%	1h	4,340.5	−0.211%	$25K	$14K	20x	as long as short
BloFin XAU-USDT	+0.0347%	4h	4,348	−0.040%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0230%	1h	4,347	−0.063%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0628%	4h	4,352.7	+0.069%	$2.9M	$4.3M	75x	as long as short