Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.053%

Price spread now: GMX against SunX−0.095%7-day average −0.091% · you buy dearer than you sell

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.150%+$15 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now −0.095%, 7d avg −0.091%

Together, before fees+0.135%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,355.6	0	get 0.0000% / 4h	19m 02s	$93K	$8.9M	20x
Short	GMX GOLD/USD [ETH-USDC]	4,351.4	L +0.0417% / S −0.0236%	get 0.0030% / 1h	19m 02s	$248K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.095%Rate

Funding earned: $49.57
Price spread: −0.095% → −0.091%: −$0.48
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $29.09
Costs to cover: 0.200%
Break-even: 2.9 days

Slippage unknown: SunX: live order book, 10 min ago; GMX: 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, 10 min ago	23.63 bp	27.6 bp −$28	40.6 bp −$406	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
RISEx XAU/USDC	0.0000%	1h	4,351.1	−0.104%	$3.4M	$12.2M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,352.4	−0.073%	$265.0M	$415.6M	100x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,355.6	long leg	$93K	$8.9M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,347.6	−0.183%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,350.6	−0.115%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,347.6	−0.184%	$13.2M	$38.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.119%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,352.8	−0.065%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.7	−0.112%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,350.4	−0.119%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,384.6	+0.666%	—	$1.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0047%	24h	4,350.2	−0.124%	$4.2M	$37.3M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,348.4	−0.165%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,348.8	−0.156%	$294.0M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,347.2	−0.193%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0062%	4h	4,352.5	−0.071%	$71.3M	$333.1M	20x	as long as short
Variational Omni XAU	+0.0077%	4h	4,349.2	−0.146%	$48.5M	$28.0M	—	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,351	−0.105%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0088%	4h	4,350.6	−0.114%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0090%	4h	4,350.6	−0.115%	$372.0M	$318.6M	1000x	as long as short
Binance XAUUSDT	+0.0091%	4h	4,351.4	−0.097%	$413.6M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,347.8	−0.179%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.5	−0.210%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,344.6	−0.252%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,346.3	−0.213%	$30.2M	$58.1M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,351	−0.106%	$161K	$87	10x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,349.1	−0.149%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.9	−0.177%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0157%	1h	4,351	−0.106%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,351.3	−0.098%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,348.3	−0.168%	$593K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0207%	4h	4,354.1	−0.034%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,350.1	−0.126%	$206K	$823K	25x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,351.7	−0.089%	$70.1M	$109.4M	100x	as long as short
Bybit XAUUSDT	+0.0244%	4h	4,352.8	−0.065%	$85.4M	$145.0M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0294%	8h	4,352.4	−0.073%	$165.5M	$282.7M	100x	as long as short
BloFin XAU-USDT	+0.0331%	4h	4,351.1	−0.104%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]short	L +0.0417% / S −0.0236%	1h	4,351.4	−0.095%	$248K	—	111x
HTX XAU-USDT	+0.0624%	4h	4,356.2	+0.013%	$2.9M	$4.3M	75x	as long as short