Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.134%

Price spread now: StandX against Phemex−0.056%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$820.823% of the position

Long on Phemex Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.311%−$31 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now −0.056%, 7d avg −0.021%

Together, before fees−0.334%+ Points / potential airdropStandX: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and StandX is 0.035% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAUUSDT	4,333.4	0.0252	pay 0.0126% / 4h	2h 01m	$2.2M	$782K	100x
Short	StandX XAU-USD	4,331	0.0040	get 0.0005% / 1h	1m 51s	$3.8M	$4.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$44.46
Price spread: −0.056% → −0.021%: −$3.47
Slippage, 4 orders: −$62.35
Fee Phemex: 6 bp × 2 orders: −$12
Fee StandX: 4 bp × 2 orders: −$8
Net: −$130.28
Costs to cover: 0.823%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; StandX: live order book, just now.

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, 5 min ago	4.79 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell StandX live order book, just now	0.12 bp	5.5 bp −$5	8.2 bp −$82	10.9 bp −$1,089	13.1 bp −$6,547

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
Hotstuff GOLD-PERP	−2.2880%	1h	4,318.3	−0.349%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,336.6	+0.074%	$92K	$6.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,327.4	−0.139%	$286K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,327.8	−0.130%	$2.1M	$5.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.392%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,332.6	−0.019%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USDshort	+0.0040%	1h	4,331	−0.056%	$3.8M	$4.5M	40x
Vest GC-PERP	+0.0046%	1h	4,366.2	+0.756%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,328	−0.125%	$292.1M	$52.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,328.6	−0.111%	$15.1M	$58.3M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0055%	8h	4,333.5	+0.001%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,333.4	0.000%	$4.7M	$13.4M	25x	as long as short
Aster XAUUSD1	+0.0075%	4h	4,335.2	+0.041%	$73.1M	$275.6M	20x	as long as short
Phoenix GOLD	+0.0076%	1h	4,330.5	−0.068%	$43K	$72K	25x	as long as short
Variational Omni XAU	+0.0090%	4h	4,334.4	+0.021%	$47.3M	$29.4M	—	as long as short
Lighter XAU	+0.0096%	1h	4,331	−0.056%	$20.2M	$30.6M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,332.6	−0.019%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.9	−0.058%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,327.9	−0.127%	$25K	$1K	20x	as long as short
Gate XAU_USDT	+0.0104%	4h	4,334.4	+0.022%	$301.1M	$451.7M	100x	as long as short
Binance XAUUSDT	+0.0109%	4h	4,333.1	−0.009%	$445.5M	$2.42B	100x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,331.8	−0.037%	$368.6M	$367.5M	1000x	as long as short
Bybit XAUUSDT	+0.0112%	4h	4,334.3	+0.020%	$80.3M	$171.9M	150x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.4	−0.023%	$160K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0116%	4h	4,333.8	+0.010%	$1.4M	$3.1M	25x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,331.5	−0.045%	$30.3M	$66.8M	50x	as long as short
Kalshi KXGOLDPERP	+0.0133%	24h	4,335.1	+0.039%	$3.5M	$50.8M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0137%	1h	4,332.6	−0.019%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0143%	1h	4,330	−0.079%	$135K	$748K	25x	as long as short
Lighter RH XAU	+0.0152%	1h	4,334	+0.013%	$19.8M	$41.2M	25x	as long as short
Extended XAU-USD	+0.0152%	1h	4,327.6	−0.135%	$12.6M	$34.8M	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,332.7	−0.016%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,332.7	−0.017%	$73.5M	$136.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0242%	8h	4,334.1	+0.015%	$170.7M	$359.0M	100x	as long as short
Phemex XAUUSDTlong	+0.0252%	4h	4,333.4	long leg	$2.2M	$782K	100x
BloFin XAU-USDT	+0.0351%	4h	4,335.8	+0.054%	$16.3M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0411%	1h	4,329.5	−0.090%	$583K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,331.9	−0.036%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1125%	4h	4,339.5	+0.139%	$3.2M	$7.0M	75x	as long as short