Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SunX against Ondo Perps+0.182%7-day average +0.218% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.182%, 7d avg +0.218%

Together, before fees−0.035%+ Points / potential airdropOndo Perps: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.036% cheaper against Ondo Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.218%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,319	0.0050	pay 0.0006% / 1h	49m 34s	$15.0M	$55.7M	25x
Short	SunX XAU-USDT	4,326.8	0	get 0.0000% / 4h	49m 34s	$92K	$7.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Ondo Perps. 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 Ondo PerpsbpFee SunXbpOrdersPrice spread, now +0.182%Rate

Funding earned: −$10.58
Price spread: +0.182% → +0.218%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$27.21
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SunX: live order book, 9 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SunX live order book, 9 min ago	26.55 bp	35.5 bp −$36	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0051%	1h	4,315.1	−0.089%	$25K	$1K	20x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,326.8	+0.182%	$92K	$7.4M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.7	−0.007%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0027%	4h	4,323.4	+0.103%	$76.9M	$153.0M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.728%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.1	+0.119%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,321.6	+0.061%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.5	+0.823%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.4	+0.033%	$291.7M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,319	long leg	$15.0M	$55.7M	25x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0061%	4h	4,324.4	+0.126%	$72.7M	$272.7M	20x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,320.3	+0.031%	$32K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,323.2	+0.099%	$2K	$14K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,322.4	+0.078%	$20.3M	$28.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,318.2	−0.018%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0087%	24h	4,323.7	+0.110%	$3.8M	$44.4M	15x	as long as short
Variational Omni XAU	+0.0092%	4h	4,321	+0.047%	$47.3M	$29.0M	—	as long as short
Phoenix GOLD	+0.0096%	1h	4,320.8	+0.042%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,322.7	+0.087%	$364.6M	$325.3M	1000x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,322.4	+0.080%	$425.3M	$2.14B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.9	+0.021%	$1.4M	$1.2M	10x	as long as short
Gate XAU_USDT	+0.0100%	4h	4,325.9	+0.160%	$279.5M	$410.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,323.9	+0.115%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,318.5	−0.012%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322	+0.071%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0106%	4h	4,317.6	−0.033%	$30.0M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0136%	1h	4,324	+0.116%	$20.0M	$38.7M	25x	as long as short
Extended XAU-USD	+0.0160%	1h	4,320.1	+0.026%	$13.1M	$36.8M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0190%	1h	4,322.5	+0.082%	$163K	$864K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,322.3	+0.076%	$70.2M	$119.1M	100x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,322.8	+0.089%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,322.6	+0.084%	$4.3M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,320.1	+0.025%	$577K	$136K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0288%	8h	4,323.2	+0.098%	$173.4M	$300.5M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,322.3	+0.078%	$16.4M	$4.6M	100x	as long as short
HTX XAU-USDT	+0.0366%	4h	4,327.4	+0.194%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDT	+0.0385%	4h	4,325.9	+0.161%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,322.8	+0.088%	$252K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,323.5	+0.105%	$4.4M	$13.3M	25x	as long as short