Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.024%

Price spread now: Coinbase International against SunX−0.218%7-day average −0.195% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$680.682% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.551%+$55 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.218%, 7d avg −0.195%

Together, before fees+0.553%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.023% cheaper against SunX than usual: you would sell low and buy high (spread −0.218% now, against its 7-day average of −0.195%). If the spread goes back, that is −$2 on $10k: about 3.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.551% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,325.5	0	get 0.0000% / 4h	2h 18m	$92K	$6.1M	20x
Short	Coinbase International GOLD-PERP-INTX	4,316.1	0.0024	get 0.0003% / 1h	18m 34s	$2.0M	$5.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.218%Rate

Funding earned: $5.04
Price spread: −0.218% → −0.195%: −$2.29
Slippage, 4 orders: −$50.21
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$65.46
Costs to cover: 0.682%
Break-even: 97.9 days

Slippage from SunX: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	23.23 bp	27.2 bp −$27	40.4 bp −$404	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.58 bp	5.9 bp −$6	7.8 bp −$78	doesn't fit	doesn't fit

XAU on 39 exchanges

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	4,325.5	long leg	$92K	$6.1M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,317.1	−0.195%	$274K	—	250x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0024%	1h	4,316.1	−0.218%	$2.0M	$5.1M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.576%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,319	−0.151%	$6.6M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,320.7	−0.111%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.7	+0.652%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,316.3	−0.213%	$291.4M	$52.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,316	−0.220%	$15.0M	$57.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0055%	8h	4,319.3	−0.144%	$2K	$13K	5x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx XAU/USDC	+0.0056%	1h	4,320.5	−0.115%	$4.7M	$13.5M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,322	−0.082%	$73.6M	$274.3M	20x	as long as short
Phoenix GOLD	+0.0076%	1h	4,316.9	−0.199%	$43K	$72K	25x	as long as short
Gate XAU_USDT	+0.0084%	4h	4,322	−0.081%	$300.0M	$444.3M	100x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,317.9	−0.176%	$32K	—	25x	as long as short
Variational Omni XAU	+0.0090%	4h	4,319	−0.151%	$47.0M	$29.3M	—	as long as short
Lighter XAU	+0.0096%	1h	4,319	−0.151%	$20.1M	$29.9M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,315.8	−0.224%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,316.5	−0.209%	$283K	$223K	50x	as long as short
MEXC XAU_USDT	+0.0112%	4h	4,319.8	−0.133%	$360.3M	$359.9M	1000x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,320.2	−0.122%	$160K	$87	10x	as long as short
Binance XAUUSDT	+0.0114%	4h	4,319.8	−0.132%	$440.3M	$2.37B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,318.7	−0.156%	$1.4M	$3.0M	25x	as long as short
Bybit XAUUSDT	+0.0116%	4h	4,321.1	−0.103%	$80.5M	$170.8M	150x	as long as short
edgeX XAUUSDC	+0.0124%	4h	4,315	−0.242%	$30.1M	$66.2M	50x	as long as short
Kalshi KXGOLDPERP	+0.0130%	24h	4,321.7	−0.088%	$3.5M	$49.6M	15x	as long as short
Polymarket Perps GOLD-USD	+0.0133%	1h	4,320.6	−0.114%	$4.3M	$1.7M	20x	as long as short
Lighter RH XAU	+0.0144%	1h	4,321.5	−0.093%	$20.0M	$40.0M	25x	as long as short
Extended XAU-USD	+0.0144%	1h	4,315.7	−0.226%	$12.7M	$35.1M	25x	as long as short
Bluefin GOLD-PERP	+0.0146%	1h	4,314.3	−0.260%	$25K	$1K	20x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,320.9	−0.106%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0208%	4h	4,320.1	−0.126%	$74.0M	$134.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,319.9	−0.130%	$135K	$788K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0242%	8h	4,321.1	−0.102%	$170.4M	$353.8M	100x	as long as short
BloFin XAU-USDT	+0.0354%	4h	4,321	−0.105%	$16.2M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0412%	1h	4,318.1	−0.172%	$581K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0459% / S −0.0306%	1h	4,321	−0.105%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0491%	4h	4,321.5	−0.093%	$2.2M	$783K	100x	as long as short
HTX XAU-USDT	+0.1123%	4h	4,327.8	+0.053%	$3.2M	$7.0M	75x	as long as short