Spread before costs (cost unknown: a leg has no order-book sample)+0.033%
7d average—if it closes, per $10,000$3funding while held, a day+$6.40
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix GOLD | 4,354.6 | 0.0061 | pay 0.0008% / 1h | 43m 38s | $53K | $55K | 25x |
| Short | Bitget XAUUSDT | 4,356 | 0.0274 | get 0.0137% / 4h | 3h 43m | $72.1M | $96.0M | 100x |
Phoenix GOLD
Bitget XAUUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $3.26
- Funding while held
- $6.4
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$9.34
- Spread needed to break even
- 0.190%
Slippage unknown: Phoenix: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0213%
- Per $10,000 a day
- +$6.40
- Average in range /8h
- —
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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 2 min ago | 0.01 bp | 6.1 bp −$6 | 7.8 bp −$78 | 11.1 bp −$1,112 | doesn't fit |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective4,350.4cheapestgTrade (Gains Network)4,352.2+0.042%Hotstuff4,352.4+0.046%Ondo Perps4,352.4+0.046%Kalshi4,352.5+0.048%Coinbase International4,352.8+0.055%Extended4,352.8+0.055%tradeXYZ4,353.2+0.064%Pacifica4,353.4+0.068%ApeX Omni4,353.6+0.074%Kraken Futures4,353.8+0.078%edgeX4,353.8+0.078%
Injective
gTrade (Gains Network)
Hotstuff
Ondo Perps
Coinbase International
Extended
tradeXYZ
Pacifica
ApeX Omni
Kraken FuturesPhoenix4,354.6+0.096%
RISEx4,354.7+0.099%BloFin4,354.8+0.100%StandX4,354.9+0.103%GMX4,355.2+0.110%Bullet4,355.4+0.114%Deribit4,355.7+0.121%Aevo4,355.7+0.122%QFEX4,355.8+0.124%MEXC4,355.9+0.125%
RISEx
BloFin
StandX
GMX
Bullet
Deribit
Aevo
QFEX
MEXCBitget4,356+0.129%
Binance4,356+0.129%Lighter4,356.1+0.131%Polymarket Perps4,356.2+0.133%Paradex4,356.4+0.137%OKX4,356.7+0.144%Bybit4,356.8+0.146%Aster4,356.9+0.148%Variational Omni4,356.9+0.150%Phemex4,357.3+0.158%Gate4,357.4+0.160%HTX4,357.8+0.170%Lighter RH4,358.8+0.191%SunX4,359.8+0.215%Vest4,390.6+0.924%Bluefin4,395.7+1.040%
Binance
Lighter
Polymarket Perps
Paradex
OKX
Bybit
Aster
Variational Omni
Phemex
Gate
HTX
Lighter RH
SunX
Vest
BluefinXAU on 38 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective XAU/USDC PERP | −0.096% | +0.0033% | 1h | $619 | $54 | 52x | as long as short |
| gTrade (Gains Network) XAU/USD | −0.054% | L +0.0002% / S −0.0003% | 1h | $267K | — | 250x | as long as short |
| Hotstuff GOLD-PERP | −0.051% | −0.0072% | 1h | $33K | — | 25x | as long as short |
| Ondo Perps XAU-USD.P | −0.050% | +0.0050% | 1h | $14.9M | $44.8M | 25x | as long as short |
| Kalshi KXGOLDPERP | −0.048% | +0.0080% | 24h | $4.2M | $29.7M | 15x | as long as short |
| Coinbase International GOLD-PERP-INTX | −0.041% | +0.0064% | 1h | $1.9M | $5.2M | 25x | as long as short |
| Extended XAU-USD | −0.041% | +0.0096% | 1h | $13.2M | $52.4M | 25x | as long as short |
| tradeXYZ xyz:GOLD | −0.032% | +0.0050% | 1h | $295.8M | $57.9M | 25x | as long as short |
| Pacifica XAU | −0.028% | +0.0100% | 1h | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni XAUUSDT | −0.022% | +0.0100% | 1h | $273K | $203K | 50x | as long as short |
Show all 38 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XAUUSD | −0.018% | +0.0185% | 1h | $589K | $109K | 25x | as long as short |
| edgeX XAUUSDC | −0.018% | +0.0144% | 4h | $30.3M | $55.3M | 50x | as long as short |
| Phoenix GOLDlong | 0.000% | +0.0061% | 1h | $53K | $55K | 25x | |
| RISEx XAU/USDC | +0.003% | 0.0000% | 1h | $3.7M | $12.9M | 25x | as long as short |
| BloFin XAU-USDT | +0.004% | +0.0382% | 4h | $14.9M | $4.4M | 100x | as long as short |
| StandX XAU-USD | +0.007% | +0.0040% | 1h | $3.8M | $1.8M | 40x | as long as short |
| GMX GOLD/USD [ETH-USDC] | +0.014% | L +0.0366% / S −0.0184% | 1h | $221K | — | 111x | as long as short |
| Bullet GOLD-USD | +0.018% | +0.0110% | 1h | $58K | $78K | 10x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.025% | +0.0278% | 1h | $216K | $968K | 25x | as long as short |
| Aevo XAU-PERP | +0.026% | +0.0120% | 1h | $161K | $87 | 10x | as long as short |
| QFEX GOLD-USD | +0.028% | +0.0029% | 1h | $5.4M | $2.0M | 20x | as long as short |
| MEXC XAU_USDT | +0.029% | +0.0142% | 4h | $374.6M | $380.8M | 1000x | as long as short |
| Bitget XAUUSDTshort | +0.033% | +0.0274% | 4h | $72.1M | $96.0M | 100x | |
| Binance XAUUSDT | +0.033% | +0.0142% | 4h | $419.9M | $2.04B | 100x | as long as short |
| Lighter XAU | +0.035% | +0.0104% | 1h | $20.7M | $44.5M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.037% | +0.0200% | 1h | $4.2M | $1.9M | 20x | as long as short |
| Paradex XAU-USD-PERP | +0.041% | +0.0064% | 8h | $19K | $6K | 5x | as long as short |
| OKX XAU-USDT-SWAP | +0.048% | +0.0220% | 8h | $157.1M | $260.8M | 100x | as long as short |
| Bybit XAUUSDT | +0.049% | +0.0171% | 4h | $82.9M | $132.6M | 150x | as long as short |
| Aster XAUUSD1 | +0.052% | +0.0113% | 4h | $66.9M | $205.0M | 20x | as long as short |
| Variational Omni XAU | +0.054% | +0.0120% | 4h | $48.0M | $44.3M | — | as long as short |
| Phemex XAUUSDT | +0.062% | +0.0108% | 4h | $2.2M | $1.0M | 100x | as long as short |
| Gate XAU_USDT | +0.064% | +0.0084% | 4h | $275.1M | $382.4M | 100x | as long as short |
| HTX XAU-USDT | +0.074% | +0.0382% | 4h | $2.4M | $2.3M | 75x | as long as short |
| Lighter RH XAU | +0.095% | +0.0168% | 1h | $19.9M | $40.1M | 25x | as long as short |
| SunX XAU-USDT | +0.119% | 0.0000% | 4h | $93K | $11.5M | 20x | as long as short |
| Vest GC-PERP | +0.827% | +0.0046% | 1h | — | $909K | 25x | as long as short |
| Bluefin GOLD-PERP | +0.943% | +0.8000% | 1h | $26K | $23K | 20x | as long as short |