Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h −0.020%

Price spread now: Gate against Phoenix+0.075%62s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.172%−$17 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.075% dearer against Phoenix than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.172%, so the current rate has only just turned in your favour. The two prices were read 62 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	Phoenix GOLD	4,321.6	0.0100	pay 0.0012% / 1h	16m 17s	$47K	$79K	25x
Short	Gate XAU_USDT	4,324.8	0.0118	get 0.0059% / 4h	1h 16m	$281.7M	$422.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phoenix. 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 PhoenixbpFee GatebpOrdersPrice spread, now +0.075%Rate

Funding earned: $3.81
Price spread: +0.075% → 0.000%: $7.47
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$10.72
Costs to cover: 0.220%
Break-even: 26.7 days

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 3 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	0.01 bp	7.5 bp −$8	8.0 bp −$80	12.8 bp −$1,277	14.3 bp −$7,155

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 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	−0.0066%	1h	4,317	−0.106%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	−0.0024%	1h	4,319.5	−0.049%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.4	+0.134%	$92K	$7.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.9	−0.040%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0022%	4h	4,324.1	+0.057%	$77.3M	$154.4M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.667%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.4	+0.042%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322	+0.009%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.5	+0.784%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.6	−0.046%	$291.5M	$51.3M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.1	−0.057%	$15.0M	$55.5M	25x	as long as short
Aster XAUUSD1	+0.0064%	4h	4,325.3	+0.085%	$72.5M	$274.4M	20x	as long as short
Lighter XAU	+0.0072%	1h	4,322.1	+0.011%	$20.3M	$30.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.1	−0.058%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,322.7	+0.025%	$2K	$14K	5x	as long as short
Kalshi KXGOLDPERP	+0.0080%	24h	4,324.7	+0.072%	$3.8M	$43.9M	15x	as long as short
GRVT XAU_USDT_Perp	+0.0090%	4h	4,323.2	+0.037%	$1.4M	$3.0M	25x	as long as short
Variational Omni XAU	+0.0093%	4h	4,322.6	+0.023%	$47.3M	$28.8M	—	as long as short
Phoenix GOLDlong	+0.0100%	1h	4,321.6	long leg	$47K	$79K	25x
Pacifica XAU	+0.0100%	1h	4,319.8	−0.042%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,323.3	+0.040%	$373.2M	$333.1M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.8	−0.042%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,323.3	+0.038%	$423.2M	$2.14B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322.7	+0.024%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0111%	4h	4,317.6	−0.092%	$30.0M	$60.0M	50x	as long as short
Lighter RH XAU	+0.0112%	1h	4,324.4	+0.065%	$20.0M	$39.2M	25x	as long as short
Gate XAU_USDTshort	+0.0118%	4h	4,324.8	+0.075%	$281.7M	$422.0M	100x
Extended XAU-USD	+0.0128%	1h	4,319	−0.061%	$12.9M	$37.0M	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.6	−0.023%	$577K	$146K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,325.9	+0.100%	$4.1M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,323.4	+0.042%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0215%	1h	4,323.4	+0.042%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0220%	4h	4,323	+0.032%	$67.5M	$118.3M	100x	as long as short
HTX XAU-USDT	+0.0270%	4h	4,327.7	+0.140%	$3.0M	$5.4M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0301%	8h	4,324.2	+0.060%	$172.7M	$299.5M	100x	as long as short
Phemex XAUUSDT	+0.0327%	4h	4,325.6	+0.092%	$2.2M	$967K	100x	as long as short
BloFin XAU-USDT	+0.0340%	4h	4,323.9	+0.053%	$16.2M	$4.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0352%	1h	4,322	+0.009%	$191K	$838K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0307%	1h	4,323.3	+0.040%	$252K	—	111x	as long as short