Funding you earn now, next payment 01:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.124%
Price spread now: Coinbase International against Phemex−0.096%7-day average −0.131% · you buy dearer than you sell
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$800.800% of the position
Funding, last 7 days+0.127%+$13 on $10k
+Price spread, last 3 days (all we have)−0.053%−$5 · spread now −0.096%, 7d avg −0.131%
=The price spread pays, funding is against you. Coinbase International is 0.036% dearer against Phemex than usual: you sell high and buy low (spread −0.096% now, against its 7-day average of −0.131%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours. Mind the row above: over the last 7 days funding on this pair paid +0.127%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.127% in total (about 6.6% 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 | Phemex XAUUSDT | 4,361.3 | 0.0349 | pay 0.0174% / 4h | 2h 34m | $2.2M | $1.1M | 100x |
| Short | Coinbase International GOLD-PERP-INTX | 4,357.1 | 0.0072 | get 0.0009% / 1h | 34m 42s | $2.0M | $5.0M | 25x |
Phemex XAUUSDT
Coinbase International GOLD-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$58.11
- Price spread: −0.096% → −0.131%
- $3.58
- Slippage, 4 orders
- −$58
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$134.53
- Costs to cover
- 0.800%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Coinbase International: 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, 4 min ago | 0.81 bp | 37.6 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 0.12 bp | 5.1 bp −$5 | 6.9 bp −$69 | 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 | 0.0000% | 1h | 4,356.8 | −0.102% | $33K | — | 25x | as long as short |
| Gate XAU_USDT | 0.0000% | 4h | 4,360.1 | −0.028% | $263.0M | $408.8M | 100x | as long as short |
| Kalshi KXGOLDPERP | 0.0000% | 24h | 4,357.4 | −0.089% | $4.1M | $36.3M | 15x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,364.1 | +0.065% | $93K | $9.7M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,356.8 | −0.102% | $270K | — | 250x | as long as short |
| Aster XAUUSD1 | +0.0004% | 4h | 4,359.8 | −0.035% | $70.2M | $292.9M | 20x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,355.4 | −0.134% | $13.6M | $43.0M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | −0.249% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,358.4 | −0.066% | $3.8M | $4.7M | 40x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,393 | +0.728% | — | $1.0M | 25x | as long as short |
Hotstuff GOLD-PERP
Gate XAU_USDT
Kalshi KXGOLDPERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Aster XAUUSD1
Extended XAU-USD
Injective XAU/USDC PERP
StandX XAU-USD
Vest GC-PERPShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter XAU | +0.0048% | 1h | 4,358.3 | −0.069% | $20.7M | $43.5M | 25x | as long as short |
| Lighter RH XAU | +0.0048% | 1h | 4,361.7 | +0.011% | $20.1M | $40.8M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,356 | −0.121% | $294.1M | $48.4M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,356 | −0.121% | $14.9M | $57.9M | 25x | as long as short |
| QFEX GOLD-USD | +0.0051% | 1h | 4,358.5 | −0.064% | $5.6M | $1.9M | 20x | as long as short |
| Polymarket Perps GOLD-USD | +0.0060% | 1h | 4,359 | −0.052% | $4.3M | $1.9M | 20x | as long as short |
| Variational Omni XAU | +0.0069% | 4h | 4,356.5 | −0.109% | $48.3M | $28.4M | — | as long as short |
| Coinbase International GOLD-PERP-INTXshort | +0.0072% | 1h | 4,357.1 | −0.096% | $2.0M | $5.0M | 25x | |
| Paradex XAU-USD-PERP | +0.0082% | 8h | 4,359.2 | −0.048% | $19K | $5K | 5x | as long as short |
| edgeX XAUUSDC | +0.0084% | 4h | 4,350.2 | −0.254% | $30.3M | $60.6M | 50x | as long as short |
| MEXC XAU_USDT | +0.0086% | 4h | 4,358.7 | −0.060% | $374.1M | $322.4M | 1000x | as long as short |
| Binance XAUUSDT | +0.0088% | 4h | 4,358.7 | −0.060% | $409.7M | $2.10B | 100x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,356 | −0.121% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,352.6 | −0.199% | $275K | $204K | 50x | as long as short |
| Bluefin GOLD-PERP | +0.0100% | 1h | 4,400.4 | +0.897% | $26K | $14K | 20x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,359.5 | −0.040% | $161K | $87 | 10x | as long as short |
| Phoenix GOLD | +0.0121% | 1h | 4,355.1 | −0.141% | $48K | $64K | 25x | as long as short |
| RISEx XAU/USDC | +0.0135% | 1h | 4,359.3 | −0.045% | $3.4M | $12.4M | 25x | as long as short |
| GRVT XAU_USDT_Perp | +0.0136% | 4h | 4,357.5 | −0.087% | $1.4M | $2.9M | 25x | as long as short |
| Bullet GOLD-USD | +0.0156% | 1h | 4,360 | −0.029% | $59K | $83K | 10x | as long as short |
| Bitget XAUUSDT | +0.0156% | 4h | 4,359.3 | −0.045% | $69.3M | $109.8M | 100x | as long as short |
| Bybit XAUUSDT | +0.0181% | 4h | 4,359.9 | −0.032% | $84.1M | $143.7M | 150x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0186% | 1h | 4,358.8 | −0.057% | $235K | $662K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0227% | 8h | 4,360.3 | −0.022% | $165.0M | $284.1M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0269% | 1h | 4,358 | −0.076% | $594K | $141K | 25x | as long as short |
| BloFin XAU-USDT | +0.0286% | 4h | 4,364.8 | +0.081% | $15.5M | $4.6M | 100x | as long as short |
| Phemex XAUUSDTlong | +0.0349% | 4h | 4,361.3 | long leg | $2.2M | $1.1M | 100x | |
| GMX GOLD/USD [ETH-USDC] | L +0.0394% / S −0.0199% | 1h | 4,360.4 | −0.019% | $253K | — | 111x | as long as short |
| HTX XAU-USDT | +0.0521% | 4h | 4,363.9 | +0.060% | $2.9M | $3.9M | 75x | as long as short |
Lighter XAU
Lighter RH XAU
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
QFEX GOLD-USD
Polymarket Perps GOLD-USD
Variational Omni XAU
Paradex XAU-USD-PERP
edgeX XAUUSDC
MEXC XAU_USDT
Binance XAUUSDT
Pacifica XAU
ApeX Omni XAUUSDT
Bluefin GOLD-PERP
Aevo XAU-PERP
Phoenix GOLD
RISEx XAU/USDC
GRVT XAU_USDT_Perp
Bullet GOLD-USD
Bitget XAUUSDT
Bybit XAUUSDT
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
Kraken Futures PF_XAUUSD
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT