Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against ApeX Omni+0.191%7-day average +0.139% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$900.904% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.191%, 7d avg +0.139%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.052% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.191% now, against its 7-day average of +0.139%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,340.8	0.0100	pay 0.0013% / 1h	19m 15s	$274K	$203K	50x
Short	SunX XAU-USDT	4,349.1	0	get 0.0000% / 4h	3h 19m	$92K	$8.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against ApeX Omni. 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 ApeX OmnibpFee SunXbpOrdersPrice spread, now +0.191%Rate

Funding earned: −$21
Price spread: +0.191% → +0.139%: $5.21
Slippage, 4 orders: −$72.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$106.17
Costs to cover: 0.904%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 33 min ago; SunX: live order book, 10 min ago.

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 ApeX Omni live order book, 33 min ago	3.33 bp	17.4 bp −$17	27.5 bp −$275	37.7 bp −$3,774	doesn't fit
Sell SunX live order book, 10 min ago	23.59 bp	29.5 bp −$30	47.1 bp −$471	doesn't fit	doesn't fit

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
SunX XAU-USDTshort	0.0000%	4h	4,349.1	+0.191%	$92K	$8.6M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.5	−0.008%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,345.1	+0.098%	$3.9M	$12.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0015%	1h	4,338.3	−0.059%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.6	−0.005%	$13.3M	$37.2M	25x	as long as short
Bybit XAUUSDT	+0.0033%	4h	4,345.4	+0.104%	$79.9M	$152.1M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.221%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,344.6	+0.087%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.2	+0.078%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,377.4	+0.842%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,341.2	+0.009%	$293.7M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.9	+0.025%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,342.9	+0.048%	$4.3M	$37.5M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.7	+0.065%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.4	+0.013%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0060%	8h	4,344.7	+0.088%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,346.1	+0.120%	$20.2M	$40.0M	25x	as long as short
Gate XAU_USDT	+0.0090%	4h	4,346.2	+0.123%	$268.7M	$417.6M	100x	as long as short
Aster XAUUSD1	+0.0092%	4h	4,346.4	+0.128%	$71.5M	$331.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.1	+0.006%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,340.8	long leg	$274K	$203K	50x
Hotstuff GOLD-PERP	+0.0104%	1h	4,340.9	+0.002%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0104%	4h	4,343.9	+0.071%	$48.3M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.8	+0.067%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,344.7	+0.088%	$371.7M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,344.7	+0.089%	$418.5M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0129%	4h	4,340.2	−0.015%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.5	−0.008%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0151%	4h	4,347.3	+0.148%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0182%	4h	4,344.6	+0.087%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,344.8	+0.092%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0213%	1h	4,344.6	+0.087%	$4.3M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,343.1	+0.052%	$205K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,341.6	+0.018%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0266%	4h	4,345.2	+0.101%	$71.0M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,345.5	+0.108%	$167.2M	$282.3M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,345	+0.095%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,344.8	+0.092%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0539%	4h	4,348.2	+0.170%	$2.8M	$4.6M	75x	as long as short