Funding you earn now, next payment 11:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.122%
Price spread now: Phoenix against Phemex−0.050%47s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.211%−$21 on $10k
+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 −$2 a day on $10k at the current rate, and Phoenix is 0.050% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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 | 4,320.2 | 0.0196 | pay 0.0098% / 4h | 43m 29s | $2.2M | $733K | 100x |
| Short | Phoenix GOLD | 4,318.1 | 0.0124 | get 0.0015% / 1h | 43m 29s | $43K | $71K | 25x |
Phemex XAUUSDT
Phoenix GOLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$15.15
- Price spread: −0.050% → 0.000%
- −$4.95
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$39.1
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phemex: live order book, 3 min ago; Phoenix: 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 | 1.78 bp | 31.7 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International GOLD-PERP-INTX | −0.0032% | 1h | 4,315.5 | −0.110% | $2.1M | $5.1M | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,323.8 | +0.083% | $92K | $5.5M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,316.4 | −0.089% | $308K | — | 250x | as long as short |
| Hotstuff GOLD-PERP | +0.0024% | 1h | 4,319.6 | −0.015% | $35K | $3K | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.699% | $619 | $54 | 52x | as long as short |
| Aster XAUUSD1 | +0.0038% | 4h | 4,321.9 | +0.037% | $71.1M | $277.6M | 20x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,318.1 | −0.050% | $3.8M | $4.6M | 40x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,318.1 | −0.050% | $6.6M | $3.3M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,353.2 | +0.763% | — | $1.0M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,316.5 | −0.087% | $15.2M | $59.1M | 25x | as long as short |
Coinbase International GOLD-PERP-INTX
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Hotstuff GOLD-PERP
Injective XAU/USDC PERP
Aster XAUUSD1
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
Ondo Perps XAU-USD.PShow all 39 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:GOLD | +0.0053% | 1h | 4,317.6 | −0.061% | $291.8M | $46.1M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0057% | 8h | 4,319.6 | −0.015% | $2K | $13K | 5x | as long as short |
| RISEx XAU/USDC | +0.0062% | 1h | 4,320.3 | +0.002% | $4.7M | $13.4M | 25x | as long as short |
| Variational Omni XAU | +0.0067% | 4h | 4,315.6 | −0.107% | $47.1M | $27.9M | — | as long as short |
| Lighter XAU | +0.0072% | 1h | 4,319.7 | −0.012% | $20.0M | $30.4M | 25x | as long as short |
| MEXC XAU_USDT | +0.0078% | 4h | 4,320.3 | 0.000% | $350.9M | $354.3M | 1000x | as long as short |
| Binance XAUUSDT | +0.0080% | 4h | 4,320.5 | +0.005% | $443.3M | $2.45B | 100x | as long as short |
| edgeX XAUUSDC | +0.0082% | 4h | 4,313.3 | −0.160% | $30.2M | $67.2M | 50x | as long as short |
| Gate XAU_USDT | +0.0084% | 4h | 4,323 | +0.065% | $304.3M | $437.3M | 100x | as long as short |
| GRVT XAU_USDT_Perp | +0.0090% | 4h | 4,320.1 | −0.004% | $1.4M | $3.1M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,317.2 | −0.070% | $1.4M | $1.5M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,317.2 | −0.070% | $286K | $228K | 50x | as long as short |
| Bluefin GOLD-PERP | +0.0100% | 1h | 4,314.1 | −0.141% | $25K | $1K | 20x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,317.6 | −0.061% | $160K | $87 | 10x | as long as short |
| Phoenix GOLDshort | +0.0124% | 1h | 4,318.1 | −0.050% | $43K | $71K | 25x | |
| Lighter RH XAU | +0.0128% | 1h | 4,322 | +0.041% | $19.5M | $39.4M | 25x | as long as short |
| Kalshi KXGOLDPERP | +0.0147% | 24h | 4,320.6 | +0.008% | $3.5M | $52.0M | 15x | as long as short |
| Bybit XAUUSDT | +0.0170% | 4h | 4,322.3 | +0.047% | $85.3M | $168.7M | 150x | as long as short |
| Phemex XAUUSDTlong | +0.0196% | 4h | 4,320.2 | long leg | $2.2M | $733K | 100x | |
| Kraken Futures PF_XAUUSD | +0.0198% | 1h | 4,317.5 | −0.065% | $581K | $166K | 25x | as long as short |
| Bitget XAUUSDT | +0.0202% | 4h | 4,320.7 | +0.010% | $73.1M | $142.0M | 100x | as long as short |
| Extended XAU-USD | +0.0208% | 1h | 4,316.3 | −0.091% | $12.6M | $34.4M | 25x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0213% | 1h | 4,318.4 | −0.043% | $135K | $661K | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0219% | 1h | 4,320.3 | +0.001% | $4.3M | $1.7M | 20x | as long as short |
| Bullet GOLD-USD | +0.0219% | 1h | 4,320.7 | +0.010% | $59K | $77K | 10x | as long as short |
| OKX XAU-USDT-SWAP | +0.0224% | 8h | 4,322 | +0.041% | $171.2M | $365.9M | 100x | as long as short |
| BloFin XAU-USDT | +0.0319% | 4h | 4,319.2 | −0.025% | $16.5M | $5.3M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0424% / S −0.0257% | 1h | 4,320.5 | +0.005% | $252K | — | 111x | as long as short |
| HTX XAU-USDT | +0.1017% | 4h | 4,326.3 | +0.140% | $3.2M | $7.1M | 75x | as long as short |
tradeXYZ xyz:GOLD
Paradex XAU-USD-PERP
RISEx XAU/USDC
Variational Omni XAU
Lighter XAU
MEXC XAU_USDT
Binance XAUUSDT
edgeX XAUUSDC
Gate XAU_USDT
GRVT XAU_USDT_Perp
Pacifica XAU
ApeX Omni XAUUSDT
Bluefin GOLD-PERP
Aevo XAU-PERP
Lighter RH XAU
Kalshi KXGOLDPERP
Bybit XAUUSDT
Kraken Futures PF_XAUUSD
Bitget XAUUSDT
Extended XAU-USD
Deribit GOLD_USDC-PERPETUAL
Polymarket Perps GOLD-USD
Bullet GOLD-USD
OKX XAU-USDT-SWAP
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT