Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.069%

Price spread now: Deribit against SunX−0.128%7-day average −0.215% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$690.695% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.766%+$77 on $10k

Price spread, last 3 days (all we have)−0.089%−$9 · spread now −0.128%, 7d avg −0.215%

Together, before fees+0.677%+$68 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.086% dearer against SunX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.215%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,359.3	0	get 0.0000% / 4h	1h 18m	$93K	$10.7M	20x
Short	Deribit GOLD_USDC-PERPETUAL	4,353.7	0	get 0.0000% / 1h	18m 03s	$235K	$767K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.215%: $8.64
Slippage, 4 orders: −$54.45
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$60.81
Costs to cover: 0.695%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Deribit: live order book, 1 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, 11 min ago	23.66 bp	27.7 bp −$28	40.6 bp −$406	doesn't fit	doesn't fit
Sell Deribit live order book, 1 min ago	0.12 bp	3.6 bp −$4	4.5 bp −$45	doesn't fit	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353.1	−0.142%	$600K	$140K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.7	−0.059%	$71.4M	$234.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.1	−0.096%	$409.5M	$2.08B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.2	−0.070%	$82.6M	$141.1M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.1	−0.095%	$3.5M	$12.4M	25x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,351.1	−0.188%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,356.8	−0.057%	$272.0M	$409.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,355.1	−0.096%	$378.6M	$352.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,355.7	−0.083%	$67.1M	$109.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,355.2	−0.094%	$48.0M	$31.0M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.3	−0.093%	$1.4M	$3.2M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,352.5	−0.156%	$4.0M	$34.4M	15x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,359.3	long leg	$93K	$10.7M	20x
Deribit GOLD_USDC-PERPETUALshort	0.0000%	1h	4,353.7	−0.128%	$235K	$767K	25x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.2	−0.162%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,355	−0.098%	$5.6M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.9	−0.193%	$30.3M	$58.3M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0017%	1h	4,351.4	−0.181%	$292.8M	$52.9M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,354.8	−0.103%	$21.0M	$44.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,356.7	−0.059%	$20.3M	$42.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.2	−0.162%	$13.0M	$49.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.203%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,355.4	−0.089%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.7	+0.698%	—	$1.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.1	−0.096%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.4	−0.181%	$14.4M	$55.6M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0051%	1h	4,355	−0.098%	$4.3M	$1.7M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.6	−0.109%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.4	−0.158%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,352.7	−0.151%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.6	−0.246%	$26K	$21K	20x	as long as short
Bullet GOLD-USD	+0.0102%	1h	4,355.1	−0.096%	$60K	$85K	10x	as long as short
HTX XAU-USDT	+0.0105%	4h	4,358.7	−0.013%	$2.8M	$3.8M	75x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.7	−0.174%	$48K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0157%	8h	4,356.6	−0.062%	$158.9M	$266.9M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,353	−0.144%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,355.3	−0.092%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0315%	4h	4,358.1	−0.028%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.1	−0.096%	$251K	—	111x	as long as short