Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.018%

Price spread now: SunX against Extended+0.188%7-day average +0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$620.624% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.188%, 7d avg +0.157%

Together, before fees−0.047%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.031% dearer against Extended than usual: you sell high and buy low (spread +0.188% now, against its 7-day average of +0.157%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XAU-USD	4,339.1	0.0032	pay 0.0004% / 1h	46m 45s	$13.3M	$37.9M	25x
Short	SunX XAU-USDT	4,347.3	0	get 0.0000% / 4h	3h 46m	$92K	$8.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Extended. 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 ExtendedbpFee SunXbpOrdersPrice spread, now +0.188%Rate

Funding earned: −$6.72
Price spread: +0.188% → +0.157%: $3.1
Slippage, 4 orders: −$49.4
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$66.02
Costs to cover: 0.624%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; SunX: live order book, 12 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 Extended live order book, 2 min ago	0.12 bp	2.6 bp −$3	3.2 bp −$32	7.0 bp −$703	26.3 bp −$13.2K
Sell SunX live order book, 12 min ago	23.60 bp	29.6 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
Bluefin GOLD-PERP	−0.0006%	1h	4,336.2	−0.067%	$25K	$14K	20x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,347.3	+0.188%	$92K	$8.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,338.8	−0.007%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,342.6	+0.081%	$3.5M	$12.1M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,344	+0.113%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USDlong	+0.0032%	1h	4,339.1	long leg	$13.3M	$37.9M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.260%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.3	+0.096%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,342.1	+0.069%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.2	+0.832%	—	$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
Lighter XAU	+0.0048%	1h	4,342	+0.066%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340.1	+0.023%	$293.5M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,339.4	+0.006%	$15.1M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,340.2	+0.025%	$4.3M	$37.5M	15x	as long as short
Gate XAU_USDT	+0.0052%	4h	4,344.8	+0.131%	$267.9M	$411.9M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,340.1	+0.023%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0074%	4h	4,344.2	+0.117%	$80.5M	$150.7M	150x	as long as short
Aster XAUUSD1	+0.0076%	4h	4,344.4	+0.122%	$71.5M	$332.4M	20x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,342.6	+0.079%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0082%	4h	4,340.8	+0.039%	$48.4M	$27.6M	—	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,343.4	+0.099%	$372.5M	$317.5M	1000x	as long as short
Pacifica XAU	+0.0100%	1h	4,339.3	+0.004%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337	−0.049%	$274K	$203K	50x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,343.4	+0.098%	$415.0M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,336.2	−0.068%	$30.2M	$58.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342.1	+0.070%	$161K	$87	10x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,339.6	+0.011%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0133%	4h	4,343.9	+0.111%	$2.2M	$967K	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.3	−0.019%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0166%	4h	4,341.6	+0.058%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343	+0.091%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,343	+0.089%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0242%	4h	4,343.8	+0.107%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	+0.028%	$592K	$132K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0280%	1h	4,341.6	+0.057%	$205K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0316%	8h	4,344.8	+0.131%	$166.3M	$281.6M	100x	as long as short
BloFin XAU-USDT	+0.0352%	4h	4,343.4	+0.098%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0251%	1h	4,343.1	+0.093%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0541%	4h	4,347.6	+0.195%	$2.8M	$4.6M	75x	as long as short