Funding you earn now, next payment 08:00 UTC+0.0045%/8h= +4.9% APRnext payment +$0.06 per $10,000 · paid last 24h +0.016%
Price spread now: Phoenix against tradeXYZ+0.035%81s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.069%+$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.035% dearer against tradeXYZ than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 81 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 | tradeXYZ xyz:GOLD | 4,304.6 | 0.0050 | pay 0.0006% / 1h | 34m 04s | $291.0M | $54.0M | 25x |
| Short | Phoenix GOLD | 4,306.1 | 0.0095 | get 0.0012% / 1h | 34m 04s | $42K | $86K | 25x |
tradeXYZ xyz:GOLD
Phoenix GOLDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $9.42
- Price spread: +0.035% → 0.000%
- $3.48
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$12.1
- Costs to cover
- 0.250%
- Break-even
- 16.0 days
Slippage unknown: tradeXYZ: live order book, 5 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 tradeXYZ live order book, 5 min ago | 0.12 bp | 9.1 bp −$9 | 9.4 bp −$94 | 11.0 bp −$1,102 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff GOLD-PERP | −0.0032% | 1h | 4,305.5 | +0.021% | $32K | — | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,311.7 | +0.165% | $92K | $6.8M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,303.6 | −0.024% | $278K | — | 250x | as long as short |
| GRVT XAU_USDT_Perp | +0.0012% | 4h | 4,308 | +0.080% | $1.4M | $3.0M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +1.064% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,306.8 | +0.051% | $3.8M | $4.5M | 40x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,338.7 | +0.792% | — | $1.0M | 25x | as long as short |
| QFEX GOLD-USD | +0.0046% | 1h | 4,306 | +0.033% | $6.6M | $3.1M | 20x | as long as short |
| tradeXYZ xyz:GOLDlong | +0.0050% | 1h | 4,304.6 | long leg | $291.0M | $54.0M | 25x | |
| Polymarket Perps GOLD-USD | +0.0050% | 1h | 4,304.2 | −0.009% | $4.3M | $1.8M | 20x | as long as short |
Hotstuff GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
GRVT XAU_USDT_Perp
Injective XAU/USDC PERP
StandX XAU-USD
Vest GC-PERP
QFEX GOLD-USD
Polymarket Perps GOLD-USDShow 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 | 4,302.7 | −0.043% | $15.0M | $55.8M | 25x | as long as short |
| Aster XAUUSD1 | +0.0052% | 4h | 4,308.8 | +0.097% | $73.4M | $272.0M | 20x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0056% | 1h | 4,305.8 | +0.028% | $2.0M | $5.1M | 25x | as long as short |
| Paradex XAU-USD-PERP | +0.0061% | 8h | 4,306.6 | +0.046% | $2K | $13K | 5x | as long as short |
| Extended XAU-USD | +0.0072% | 1h | 4,303.5 | −0.026% | $13.1M | $36.2M | 25x | as long as short |
| Lighter XAU | +0.0080% | 1h | 4,307.1 | +0.057% | $20.3M | $28.9M | 25x | as long as short |
| Variational Omni XAU | +0.0089% | 4h | 4,305.9 | +0.030% | $46.6M | $29.2M | — | as long as short |
| Phoenix GOLDshort | +0.0095% | 1h | 4,306.1 | +0.035% | $42K | $86K | 25x | |
| Pacifica XAU | +0.0100% | 1h | 4,303.3 | −0.030% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,305.2 | +0.013% | $275K | $218K | 50x | as long as short |
| MEXC XAU_USDT | +0.0102% | 4h | 4,307.4 | +0.065% | $364.5M | $337.9M | 1000x | as long as short |
| Lighter RH XAU | +0.0104% | 1h | 4,309.8 | +0.120% | $19.8M | $39.9M | 25x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,306.4 | +0.042% | $159K | $87 | 10x | as long as short |
| Binance XAUUSDT | +0.0104% | 4h | 4,307.8 | +0.075% | $434.2M | $2.22B | 100x | as long as short |
| Kalshi KXGOLDPERP | +0.0110% | 24h | 4,311.3 | +0.156% | $3.7M | $46.5M | 15x | as long as short |
| edgeX XAUUSDC | +0.0111% | 4h | 4,306.8 | +0.050% | $30.0M | $61.5M | 50x | as long as short |
| Bybit XAUUSDT | +0.0119% | 4h | 4,308.1 | +0.081% | $77.4M | $157.7M | 150x | as long as short |
| RISEx XAU/USDC | +0.0126% | 1h | 4,306.7 | +0.049% | $4.4M | $13.1M | 25x | as long as short |
| Gate XAU_USDT | +0.0160% | 4h | 4,309.7 | +0.118% | $296.6M | $427.3M | 100x | as long as short |
| Bitget XAUUSDT | +0.0190% | 4h | 4,307.4 | +0.065% | $70.6M | $125.2M | 100x | as long as short |
| Bullet GOLD-USD | +0.0196% | 1h | 4,307.5 | +0.067% | $58K | $81K | 10x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0238% | 1h | 4,307.7 | +0.072% | $134K | $846K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0249% | 8h | 4,308.4 | +0.088% | $171.4M | $330.4M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0328% | 1h | 4,305.5 | +0.020% | $573K | $138K | 25x | as long as short |
| BloFin XAU-USDT | +0.0369% | 4h | 4,307.1 | +0.058% | $16.2M | $5.0M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0467% / S −0.0314% | 1h | 4,307.9 | +0.077% | $255K | — | 111x | as long as short |
| Phemex XAUUSDT | +0.0486% | 4h | 4,311.9 | +0.169% | $2.2M | $956K | 100x | as long as short |
| HTX XAU-USDT | +0.1145% | 4h | 4,316 | +0.264% | $3.2M | $6.2M | 75x | as long as short |
| Bluefin GOLD-PERP | +0.4125% | 1h | 4,306.6 | +0.047% | $25K | $1K | 20x | as long as short |
Ondo Perps XAU-USD.P
Aster XAUUSD1
Coinbase International GOLD-PERP-INTX
Paradex XAU-USD-PERP
Extended XAU-USD
Lighter XAU
Variational Omni XAU
Pacifica XAU
ApeX Omni XAUUSDT
MEXC XAU_USDT
Lighter RH XAU
Aevo XAU-PERP
Binance XAUUSDT
Kalshi KXGOLDPERP
edgeX XAUUSDC
Bybit XAUUSDT
RISEx XAU/USDC
Gate XAU_USDT
Bitget XAUUSDT
Bullet GOLD-USD
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
Kraken Futures PF_XAUUSD
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
Phemex XAUUSDT
HTX XAU-USDT
Bluefin GOLD-PERP