Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0269%/8h= −29.4% APRpaid last 24h −0.088%

Price spread now: SunX against Kraken Futures+0.170%7-day average +0.164% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.353%−$35 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now +0.170%, 7d avg +0.164%

Together, before fees−0.349%−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.164%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,355	0.0269	pay 0.0034% / 1h	39m 01s	$594K	$141K	25x
Short	SunX XAU-USDT	4,362.4	0	get 0.0000% / 4h	2h 39m	$93K	$9.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. 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 Kraken FuturesbpFee SunXbpOrdersPrice spread, now +0.170%Rate

Funding earned: −$56.47
Price spread: +0.170% → +0.164%: $0.63
Slippage, 4 orders: −$55.45
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$129.29
Costs to cover: 0.734%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 29 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 Kraken Futures live order book, 29 min ago	1.57 bp	7.1 bp −$7	14.2 bp −$142	49.8 bp −$4,979	doesn't fit
Sell SunX live order book, 10 min ago	23.68 bp	29.6 bp −$30	47.2 bp −$472	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	−0.0325%	1h	4,350.7	−0.097%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0024%	1h	4,354.2	−0.018%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,358.3	+0.075%	$69.7M	$288.0M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.8	+0.110%	$263.2M	$407.4M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,355.5	+0.012%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,362.4	+0.170%	$93K	$9.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.6	−0.009%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.8	−0.026%	$13.6M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.104%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,357.2	+0.050%	$20.7M	$43.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,357.7	+0.063%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.2	+0.832%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,359.6	+0.106%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,355.3	+0.008%	$294.1M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.3	−0.015%	$15.0M	$57.7M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,356.4	+0.033%	$5.6M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	+0.017%	$48.3M	$28.4M	—	as long as short
Polymarket Perps GOLD-USD	+0.0061%	1h	4,356.8	+0.042%	$4.3M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,354.8	−0.004%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,357.4	+0.057%	$372.4M	$321.6M	1000x	as long as short
Binance XAUUSDT	+0.0084%	4h	4,358	+0.070%	$409.6M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,357.2	+0.052%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.070%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.1	−0.020%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.037%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,356.6	+0.038%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.006%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357.2	+0.051%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,357.4	+0.055%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDT	+0.0146%	4h	4,358	+0.069%	$69.3M	$109.6M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,358.1	+0.071%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,358.5	+0.081%	$84.2M	$143.5M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,356.8	+0.042%	$235K	$661K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0225%	8h	4,359	+0.093%	$164.9M	$284.8M	100x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0269%	1h	4,355	long leg	$594K	$141K	25x
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.226%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0377%	4h	4,361.3	+0.145%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0395% / S −0.0199%	1h	4,358.3	+0.076%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0528%	4h	4,362	+0.162%	$2.9M	$3.9M	75x	as long as short