Funding you earn now, next payment 10:00 UTC−0.0059%/8h= −6.4% APRpaid last 24h −0.001%
Price spread now: Variational Omni against Phoenix+0.033%69s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 airdropVariational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. Variational Omni is 0.033% dearer against Phoenix than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 45 hours. The two prices were read 69 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 | 4,329.8 | 0.0127 | pay 0.0016% / 1h | 2m 15s | $43K | $71K | 25x |
| Short | Variational Omni XAU | 4,331.2 | 0.0069 | get 0.0034% / 4h | 1h 02m | $47.2M | $28.4M | — |
Phoenix GOLD
Variational Omni XAUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Phoenix. 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
- −$12.34
- Price spread: +0.033% → 0.000%
- $3.32
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$16.02
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago | 1.55 bp | doesn't fit | 1.6 bp −$16 | 4.6 bp −$464 | 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 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 | −3.2000% | 1h | 4,328.4 | −0.032% | $35K | $3K | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,333.6 | +0.089% | $92K | $5.7M | 20x | as long as short |
| Coinbase International GOLD-PERP-INTX | 0.0000% | 1h | 4,326.6 | −0.074% | $2.1M | $5.0M | 25x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,325.5 | −0.099% | $304K | — | 250x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.476% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,333.1 | +0.076% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0041% | 1h | 4,328.9 | −0.021% | $6.7M | $3.3M | 20x | as long as short |
| Aster XAUUSD1 | +0.0043% | 4h | 4,330.7 | +0.020% | $71.7M | $276.6M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,363 | +0.767% | — | $1.0M | 25x | as long as short |
| Bluefin GOLD-PERP | +0.0049% | 1h | 4,323.3 | −0.150% | $25K | $1K | 20x | as long as short |
Hotstuff GOLD-PERP
SunX XAU-USDT
Coinbase International GOLD-PERP-INTX
gTrade (Gains Network) XAU/USD
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Aster XAUUSD1
Vest GC-PERP
Bluefin GOLD-PERPShow all 39 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,327.3 | −0.058% | $292.3M | $51.8M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,325.4 | −0.101% | $15.2M | $59.5M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0055% | 8h | 4,328.8 | −0.023% | $2K | $13K | 5x | as long as short |
| Gate XAU_USDT | +0.0068% | 4h | 4,330.5 | +0.015% | $299.8M | $452.7M | 100x | as long as short |
| Variational Omni XAUshort | +0.0069% | 4h | 4,331.2 | +0.033% | $47.2M | $28.4M | — | |
| Lighter XAU | +0.0080% | 1h | 4,329.2 | −0.015% | $20.1M | $30.6M | 25x | as long as short |
| MEXC XAU_USDT | +0.0082% | 4h | 4,329.4 | −0.008% | $366.7M | $358.5M | 1000x | as long as short |
| Binance XAUUSDT | +0.0083% | 4h | 4,329.1 | −0.017% | $441.6M | $2.42B | 100x | as long as short |
| GRVT XAU_USDT_Perp | +0.0090% | 4h | 4,331.2 | +0.033% | $1.4M | $3.1M | 25x | as long as short |
| edgeX XAUUSDC | +0.0099% | 4h | 4,328.6 | −0.029% | $30.3M | $66.6M | 50x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,326.2 | −0.084% | $1.4M | $1.3M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,328.4 | −0.032% | $287K | $227K | 50x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,328.3 | −0.034% | $160K | $87 | 10x | as long as short |
| Lighter RH XAU | +0.0120% | 1h | 4,331.7 | +0.044% | $19.6M | $40.5M | 25x | as long as short |
| Phoenix GOLDlong | +0.0127% | 1h | 4,329.8 | long leg | $43K | $71K | 25x | |
| Kalshi KXGOLDPERP | +0.0144% | 24h | 4,330.5 | +0.016% | $3.5M | $51.5M | 15x | as long as short |
| Bybit XAUUSDT | +0.0156% | 4h | 4,330.4 | +0.013% | $82.9M | $166.9M | 150x | as long as short |
| Polymarket Perps GOLD-USD | +0.0162% | 1h | 4,329.8 | 0.000% | $4.3M | $1.7M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0166% | 1h | 4,327.2 | −0.060% | $135K | $661K | 25x | as long as short |
| Phemex XAUUSDT | +0.0178% | 4h | 4,332.5 | +0.062% | $2.3M | $775K | 100x | as long as short |
| Bullet GOLD-USD | +0.0180% | 1h | 4,329.6 | −0.006% | $59K | $77K | 10x | as long as short |
| Extended XAU-USD | +0.0192% | 1h | 4,325.1 | −0.109% | $12.5M | $34.2M | 25x | as long as short |
| Bitget XAUUSDT | +0.0198% | 4h | 4,329.4 | −0.009% | $72.7M | $140.2M | 100x | as long as short |
| RISEx XAU/USDC | +0.0205% | 1h | 4,329.5 | −0.006% | $4.7M | $13.3M | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0228% | 8h | 4,329.9 | +0.002% | $171.1M | $361.8M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0254% | 1h | 4,326.4 | −0.078% | $583K | $166K | 25x | as long as short |
| BloFin XAU-USDT | +0.0323% | 4h | 4,330.5 | +0.017% | $16.4M | $5.2M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0460% / S −0.0308% | 1h | 4,332.4 | +0.060% | $253K | — | 111x | as long as short |
| HTX XAU-USDT | +0.1034% | 4h | 4,337.8 | +0.186% | $3.2M | $7.1M | 75x | as long as short |
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
Paradex XAU-USD-PERP
Gate XAU_USDT
Lighter XAU
MEXC XAU_USDT
Binance XAUUSDT
GRVT XAU_USDT_Perp
edgeX XAUUSDC
Pacifica XAU
ApeX Omni XAUUSDT
Aevo XAU-PERP
Lighter RH XAU
Kalshi KXGOLDPERP
Bybit XAUUSDT
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
Phemex XAUUSDT
Bullet GOLD-USD
Extended XAU-USD
Bitget XAUUSDT
RISEx XAU/USDC
OKX XAU-USDT-SWAP
Kraken Futures PF_XAUUSD
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT