Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.260%

Price spread now: Bluefin against SunX−0.255%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bluefin is 0.255% cheaper against SunX than usual: you would sell low and buy high (spread −0.255% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 48 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,349.4	0	get 0.0000% / 4h	3h 19m	$92K	$8.6M	20x
Short	Bluefin GOLD-PERP	4,338.3	0.0018	get 0.0002% / 1h	19m 52s	$25K	$14K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.255%Rate

Funding earned: $3.75
Price spread: −0.255% → 0.000%: −$25.54
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$36.79
Costs to cover: 0.150%
Break-even: 75.7 days

Slippage unknown: SunX: live order book, 9 min ago; Bluefin: no order-book sample. 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 SunX live order book, 9 min ago	23.59 bp	27.6 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
SunX XAU-USDTlong	0.0000%	4h	4,349.4	long leg	$92K	$8.6M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.7	−0.198%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,345.1	−0.098%	$3.9M	$12.4M	25x	as long as short
Bluefin GOLD-PERPshort	+0.0018%	1h	4,338.3	−0.255%	$25K	$14K	20x
Extended XAU-USD	+0.0032%	1h	4,340.9	−0.196%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.024%	$619	$54	52x	as long as short
Bybit XAUUSDT	+0.0036%	4h	4,345.9	−0.080%	$79.9M	$152.2M	150x	as long as short
StandX XAU-USD	+0.0040%	1h	4,344.6	−0.110%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.3	−0.117%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,377.4	+0.644%	—	$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
tradeXYZ xyz:GOLD	+0.0050%	1h	4,341.3	−0.186%	$293.7M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.1	−0.166%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,342.1	−0.167%	$4.3M	$37.5M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.7	−0.129%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.4	−0.183%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0059%	8h	4,344.5	−0.112%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,346.3	−0.071%	$20.2M	$40.0M	25x	as long as short
Gate XAU_USDT	+0.0092%	4h	4,346.3	−0.072%	$268.8M	$417.5M	100x	as long as short
Aster XAUUSD1	+0.0092%	4h	4,346.5	−0.067%	$71.5M	$331.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.2	−0.188%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.6	−0.203%	$274K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,340.9	−0.195%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0104%	4h	4,343.9	−0.125%	$48.3M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.9	−0.125%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,345.1	−0.099%	$371.8M	$320.5M	1000x	as long as short
Binance XAUUSDT	+0.0118%	4h	4,345.1	−0.098%	$418.5M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.5	−0.204%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0137%	4h	4,338.4	−0.252%	$30.2M	$58.2M	50x	as long as short
Phemex XAUUSDT	+0.0165%	4h	4,347.7	−0.040%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0204%	4h	4,341.2	−0.189%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,345	−0.100%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0214%	1h	4,344.6	−0.110%	$4.3M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,343.2	−0.142%	$205K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,341.9	−0.171%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0266%	4h	4,345.3	−0.093%	$71.0M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,345.5	−0.089%	$167.2M	$282.3M	100x	as long as short
BloFin XAU-USDT	+0.0358%	4h	4,341.8	−0.174%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,345.2	−0.097%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0547%	4h	4,348.2	−0.027%	$2.8M	$4.6M	75x	as long as short