Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0002%/8h= −0.3% APRpaid last 24h −0.001%

Price spread now: SunX against gTrade (Gains Network)+0.199%7-day average +0.186% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$323as in the Price arb table

costs, in and out, $10k−$3243.242% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now +0.199%, 7d avg +0.186%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XAU/USD	4,346.3	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	46m 16s	$272K	—	250x
Short	SunX XAU-USDT	4,354.9	0	get 0.0000% / 4h	2h 46m	$93K	$8.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee SunXbpOrdersPrice spread, now +0.199%Rate

Funding earned: −$0.49
Price spread: +0.199% → +0.186%: $1.29
Slippage, 4 orders: −$309.19
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$323.39
Costs to cover: 3.242%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 33 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 gTrade (Gains Network) virtual book (oracle venue), 33 min ago	130.01 bp	133.5 bp −$134	196.7 bp −$1,967	1352.9 bp −$135.3K	5907.8 bp −$2.95M
Sell SunX live order book, 13 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	−0.0052%	1h	4,344.4	−0.042%	$25K	$14K	20x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,354.9	+0.199%	$93K	$8.5M	20x
gTrade (Gains Network) XAU/USDlong	L +0.0002% / S −0.0003%	1h	4,346.3	long leg	$272K	—	250x
Hotstuff GOLD-PERP	+0.0024%	1h	4,346.8	+0.012%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.2	−0.002%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.096%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.5	+0.121%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,348.9	+0.061%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.2	+0.850%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,346.5	+0.006%	$293.7M	$49.5M	25x	as long as short

Show 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	4,347.3	+0.023%	$15.1M	$56.7M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,350.8	+0.104%	$3.7M	$12.6M	25x	as long as short
Kalshi KXGOLDPERP	+0.0054%	24h	4,349.3	+0.070%	$4.2M	$39.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,349	+0.062%	$20.7M	$30.4M	25x	as long as short
Bybit XAUUSDT	+0.0067%	4h	4,351.2	+0.113%	$80.2M	$151.7M	150x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,350.6	+0.100%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,348.6	+0.054%	$2.1M	$4.7M	25x	as long as short
Gate XAU_USDT	+0.0074%	4h	4,351.7	+0.126%	$271.8M	$397.4M	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.9	+0.014%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.9	+0.015%	$277K	$204K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,351.9	+0.131%	$20.1M	$38.1M	25x	as long as short
Aster XAUUSD1	+0.0106%	4h	4,352.4	+0.140%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0108%	4h	4,349.5	+0.074%	$48.5M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,349.5	+0.075%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,350.1	+0.089%	$370.3M	$317.9M	1000x	as long as short
Binance XAUUSDT	+0.0118%	4h	4,350.1	+0.089%	$418.8M	$2.09B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0124%	4h	4,350	+0.087%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.7	+0.033%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0132%	4h	4,345.7	−0.013%	$30.2M	$58.1M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0141%	1h	4,348.6	+0.054%	$203K	$822K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,350.1	+0.089%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0167%	1h	4,350	+0.086%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0200%	4h	4,352.9	+0.152%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0246%	1h	4,347.2	+0.021%	$591K	$128K	25x	as long as short
HTX XAU-USDT	+0.0266%	4h	4,352.4	+0.140%	$2.8M	$4.6M	75x	as long as short
Bitget XAUUSDT	+0.0278%	4h	4,350.5	+0.097%	$71.5M	$107.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0335%	8h	4,351.4	+0.118%	$168.1M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0371%	4h	4,349.2	+0.069%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,350.1	+0.089%	$251K	—	111x	as long as short