Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0315%/8h= −34.5% APRpaid last 24h −0.136%

Price spread now: Paradex against Phemex−0.024%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Paradex

What this pair did over the last

the charts below follow

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Paradex is 0.024% cheaper against Phemex than usual: you would sell low and buy high (−$2 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	4,335.2	0.0387	pay 0.0194% / 4h	2h 09m	$2.2M	$962K	100x
Short	Paradex XAU-USD-PERP	4,334.2	0.0072	get 0.0072% / 8h	2h 09m	$19K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$66.2
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$84.61
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Paradex: 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, 4 min ago	3.63 bp	30.5 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Bluefin GOLD-PERP	−0.0052%	1h	4,327.8	−0.172%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,338.3	+0.071%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.6	−0.106%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,334.7	−0.013%	$78.4M	$156.7M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,330.5	−0.109%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.350%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333.7	−0.035%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,332.7	−0.058%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,367	+0.733%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,332.8	−0.057%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,330.9	−0.100%	$292.0M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,330.4	−0.111%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,335.5	+0.005%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,334.7	−0.012%	$4.0M	$42.2M	15x	as long as short
Gate XAU_USDT	+0.0064%	4h	4,335.9	+0.016%	$272.1M	$417.1M	100x	as long as short
Lighter RH XAU	+0.0072%	1h	4,335.3	+0.001%	$19.9M	$39.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330.9	−0.100%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERPshort	+0.0072%	8h	4,334.2	−0.024%	$19K	$5K	5x
Aster XAUUSD1	+0.0097%	4h	4,334.9	−0.007%	$72.3M	$330.2M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,330.5	−0.109%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330	−0.120%	$273K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	−0.087%	$46.8M	$28.6M	—	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,331.4	−0.088%	$32K	—	25x	as long as short
GRVT XAU_USDT_Perp	+0.0104%	4h	4,333.5	−0.041%	$1.4M	$3.0M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,334.5	−0.016%	$364.1M	$330.8M	1000x	as long as short
Binance XAUUSDT	+0.0111%	4h	4,334.5	−0.018%	$414.8M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,333.3	−0.044%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,327.8	−0.171%	$30.1M	$60.3M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.199%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,334.7	−0.013%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0177%	1h	4,334.4	−0.019%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0212%	1h	4,332.5	−0.063%	$195K	$827K	25x	as long as short
HTX XAU-USDT	+0.0232%	4h	4,336.7	+0.034%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,331.5	−0.087%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0254%	4h	4,333.7	−0.036%	$68.1M	$119.0M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0331%	8h	4,334.4	−0.019%	$170.5M	$297.5M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,333.3	−0.044%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDTlong	+0.0387%	4h	4,335.2	long leg	$2.2M	$962K	100x
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0303%	1h	4,334.7	−0.013%	$253K	—	111x	as long as short