Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.026%

Price spread now: SunX against Coinbase International+0.207%7-day average +0.196% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.553%−$55 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.207%, 7d avg +0.196%

Together, before fees−0.559%−$56 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.196%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,309.7	0.0072	pay 0.0009% / 1h	16m 12s	$2.0M	$5.0M	25x
Short	SunX XAU-USDT	4,318.6	0	get 0.0000% / 4h	16m 12s	$92K	$7.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Coinbase International. 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 Coinbase InternationalbpFee SunXbpOrdersPrice spread, now +0.207%Rate

Funding earned: −$15.12
Price spread: +0.207% → +0.196%: $1.18
Slippage, 4 orders: −$60.07
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$92.01
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; SunX: live order book, 13 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 Coinbase International live order book, 3 min ago	0.23 bp	7.2 bp −$7	8.2 bp −$82	doesn't fit	doesn't fit
Sell SunX live order book, 13 min ago	26.52 bp	35.0 bp −$35	doesn't fit	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
Hotstuff GOLD-PERP	0.0000%	1h	4,311.5	+0.042%	$32K	—	25x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,318.6	+0.207%	$92K	$7.1M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,310.3	+0.015%	$269K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.945%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,314.2	+0.104%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,346.7	+0.859%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,311.3	+0.037%	$290.7M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,311.1	+0.033%	$15.0M	$55.3M	25x	as long as short
StandX XAU-USD	+0.0056%	1h	4,319.2	+0.220%	$3.8M	$4.5M	40x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,315.8	+0.142%	$72.8M	$272.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0062%	4h	4,315.2	+0.128%	$77.7M	$154.3M	150x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,314.1	+0.103%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0063%	1h	4,309.4	−0.008%	$25K	$1K	20x	as long as short
Lighter XAU	+0.0072%	1h	4,313.5	+0.089%	$20.3M	$30.1M	25x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0072%	1h	4,309.7	long leg	$2.0M	$5.0M	25x
Variational Omni XAU	+0.0095%	4h	4,317.1	+0.172%	$47.1M	$29.1M	—	as long as short
Phoenix GOLD	+0.0096%	1h	4,314.7	+0.116%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0097%	24h	4,315.8	+0.142%	$3.6M	$44.9M	15x	as long as short
Pacifica XAU	+0.0100%	1h	4,311.6	+0.044%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,315.1	+0.126%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,315.7	+0.139%	$20.0M	$39.8M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,314.2	+0.105%	$160K	$87	10x	as long as short
MEXC XAU_USDT	+0.0106%	4h	4,314.2	+0.105%	$363.4M	$334.9M	1000x	as long as short
Binance XAUUSDT	+0.0108%	4h	4,314.4	+0.110%	$427.9M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0110%	4h	4,316.3	+0.153%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0110%	4h	4,316.1	+0.149%	$286.8M	$424.5M	100x	as long as short
Extended XAU-USD	+0.0112%	1h	4,310.2	+0.012%	$13.2M	$36.8M	25x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,311.5	+0.042%	$30.0M	$60.3M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,314.2	+0.105%	$70.2M	$119.9M	100x	as long as short
Bullet GOLD-USD	+0.0205%	1h	4,314.7	+0.115%	$59K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0214%	1h	4,313	+0.077%	$161K	$878K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,314.5	+0.111%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,312.2	+0.058%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0269%	8h	4,314.4	+0.109%	$174.9M	$301.8M	100x	as long as short
BloFin XAU-USDT	+0.0348%	4h	4,315.9	+0.143%	$16.6M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0422%	4h	4,318.8	+0.211%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0311%	1h	4,314.6	+0.113%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0511%	4h	4,323	+0.309%	$3.2M	$6.0M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,315.1	+0.125%	$4.5M	$13.4M	25x	as long as short