Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.203%47s7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$890.893% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now −0.203%, 7d avg −0.139%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.064% cheaper against SunX than usual: you would sell low and buy high (spread −0.203% now, against its 7-day average of −0.139%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,306.6	0	get 0.0000% / 4h	3h 23m	$92K	$6.7M	20x
Short	ApeX Omni XAUUSDT	4,297.8	0.0100	get 0.0013% / 1h	23m 28s	$273K	$219K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.203%Rate

Funding earned: $21
Price spread: −0.203% → −0.139%: −$6.4
Slippage, 4 orders: −$71.3
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$74.7
Costs to cover: 0.893%
Break-even: 31.9 days

Slippage from SunX: live order book, 6 min ago; ApeX Omni: live order book, 9 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 SunX live order book, 6 min ago	23.43 bp	27.4 bp −$27	40.2 bp −$402	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 9 min ago	3.65 bp	16.1 bp −$16	30.5 bp −$305	40.5 bp −$4,046	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
SunX XAU-USDTlong	0.0000%	4h	4,306.6	long leg	$92K	$6.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,294.2	−0.286%	$272K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.019%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,335.9	+0.682%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,303.1	−0.080%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,301	−0.129%	$290.5M	$54.4M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,300.6	−0.138%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,301.1	−0.126%	$15.0M	$55.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,298.9	−0.178%	$2.0M	$5.1M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,304.9	−0.038%	$73.4M	$271.4M	20x	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	+0.0058%	1h	4,302.9	−0.085%	$3.8M	$4.5M	40x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,304	−0.060%	$2K	$13K	5x	as long as short
Lighter XAU	+0.0080%	1h	4,303.2	−0.077%	$20.2M	$29.5M	25x	as long as short
Bybit XAUUSDT	+0.0090%	4h	4,306.1	−0.011%	$77.7M	$159.8M	150x	as long as short
Phoenix GOLD	+0.0095%	1h	4,298.2	−0.194%	$42K	$86K	25x	as long as short
Variational Omni XAU	+0.0095%	4h	4,295.8	−0.250%	$46.6M	$29.4M	—	as long as short
Extended XAU-USD	+0.0096%	1h	4,301.1	−0.127%	$13.0M	$36.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,300.6	−0.138%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,297.8	−0.203%	$273K	$219K	50x
Lighter RH XAU	+0.0104%	1h	4,305.8	−0.017%	$19.7M	$40.5M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,304.9	−0.038%	$360.5M	$346.3M	1000x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,303.1	−0.081%	$159K	$87	10x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,304.7	−0.044%	$435.3M	$2.26B	100x	as long as short
Kalshi KXGOLDPERP	+0.0113%	24h	4,303.6	−0.069%	$3.6M	$47.1M	15x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,294.8	−0.272%	$29.9M	$62.3M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,303.8	−0.064%	$4.4M	$13.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0128%	1h	4,300.4	−0.143%	$32K	—	25x	as long as short
GRVT XAU_USDT_Perp	+0.0142%	4h	4,299.3	−0.168%	$1.4M	$3.1M	25x	as long as short
Gate XAU_USDT	+0.0174%	4h	4,306.9	+0.008%	$301.5M	$435.0M	100x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,304.9	−0.037%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0198%	4h	4,305.4	−0.027%	$70.0M	$127.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0215%	1h	4,301.7	−0.113%	$133K	$852K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,305.8	−0.017%	$170.1M	$340.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0329%	1h	4,300.3	−0.144%	$572K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0401%	4h	4,298	−0.199%	$16.3M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0312%	1h	4,302.9	−0.084%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0794%	4h	4,304.7	−0.042%	$2.2M	$974K	100x	as long as short
HTX XAU-USDT	+0.1132%	4h	4,306	−0.012%	$3.2M	$6.8M	75x	as long as short
Bluefin GOLD-PERP	+0.2667%	1h	4,299	−0.176%	$25K	$1K	20x	as long as short