Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0155%/8h= +17.0% APRpaid last 24h +0.045%

Price spread now: Bullet against SunX−0.092%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 Bullet

What this pair did over the last

the charts below follow

Funding, last 3 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. Bullet is 0.092% cheaper against SunX than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 48 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,362.3	0	get 0.0000% / 4h	2h 44m	$93K	$9.8M	20x
Short	Bullet GOLD-USD	4,358.3	0.0155	get 0.0019% / 1h	44m 13s	$59K	$83K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.092%Rate

Funding earned: $32.52
Price spread: −0.092% → 0.000%: −$9.21
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: $7.31
Costs to cover: 0.160%
Break-even: 5.4 days

Slippage unknown: SunX: live order book, 5 min ago; Bullet: 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, 5 min ago	23.68 bp	27.7 bp −$28	40.7 bp −$407	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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	−0.0340%	1h	4,351.8	−0.242%	$26K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,358.6	−0.085%	$69.2M	$275.8M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359	−0.077%	$263.4M	$405.7M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,355.3	−0.161%	$4.1M	$36.6M	15x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,362.3	long leg	$93K	$9.8M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,355.3	−0.161%	$269K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,355.3	−0.161%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354.8	−0.174%	$13.5M	$43.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.273%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,357.1	−0.120%	$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	4,358.6	−0.086%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.8	+0.675%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,359.4	−0.067%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.9	−0.171%	$293.9M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354.8	−0.174%	$14.9M	$57.6M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,357.2	−0.118%	$5.6M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0053%	4h	4,360	−0.053%	$48.4M	$28.4M	—	as long as short
Polymarket Perps GOLD-USD	+0.0059%	1h	4,357.6	−0.109%	$4.3M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,355	−0.168%	$2.0M	$5.0M	25x	as long as short
edgeX XAUUSDC	+0.0076%	4h	4,353.6	−0.200%	$30.3M	$60.7M	50x	as long as short
MEXC XAU_USDT	+0.0076%	4h	4,358.3	−0.094%	$372.7M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0078%	4h	4,358.3	−0.093%	$410.5M	$2.11B	100x	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,357.8	−0.103%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,358.1	−0.096%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.5	−0.180%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.3	−0.071%	$275K	$204K	50x	as long as short
Phoenix GOLD	+0.0121%	1h	4,356.7	−0.129%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,357.6	−0.109%	$3.4M	$12.4M	25x	as long as short
Bitget XAUUSDT	+0.0136%	4h	4,358.2	−0.095%	$69.5M	$110.7M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,364	+0.037%	$1.4M	$3.0M	25x	as long as short
Bullet GOLD-USDshort	+0.0155%	1h	4,358.3	−0.092%	$59K	$83K	10x
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,356.6	−0.132%	$234K	$661K	25x	as long as short
Bybit XAUUSDT	+0.0180%	4h	4,358.6	−0.086%	$84.2M	$145.3M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0222%	8h	4,359.1	−0.074%	$164.8M	$285.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355.3	−0.161%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.056%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0393%	4h	4,361.3	−0.025%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,359.3	−0.070%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,363.1	+0.018%	$2.9M	$3.9M	75x	as long as short