Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Hotstuff against SunX−0.210%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 Hotstuff

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.210% cheaper against SunX than usual: you would sell low and buy high (spread −0.210% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 22 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	4,360	0	get 0.0000% / 4h	1h 29m	$93K	$10.7M	20x
Short	Hotstuff GOLD-PERP	4,350.8	0.0032	get 0.0004% / 1h	29m 17s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.210%Rate

Funding earned: $6.72
Price spread: −0.210% → 0.000%: −$21.01
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$27.29
Costs to cover: 0.130%
Break-even: 35.4 days

Slippage unknown: SunX: live order book, 10 min ago; Hotstuff: 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	23.65 bp	27.7 bp −$28	40.6 bp −$406	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,353.6	−0.146%	$601K	$141K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.6	−0.077%	$71.4M	$234.4M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.9	−0.093%	$409.5M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,356.7	−0.075%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.9	−0.093%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.2	−0.064%	$271.1M	$408.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,356	−0.091%	$376.8M	$351.5M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,356.2	−0.087%	$66.9M	$110.6M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,353.8	−0.141%	$48.0M	$31.7M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.1	−0.112%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,353.2	−0.155%	$4.0M	$34.3M	15x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,360	long leg	$93K	$10.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.1	−0.158%	$267K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,355.7	−0.098%	$5.6M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,349.4	−0.242%	$30.3M	$58.4M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0013%	1h	4,351.9	−0.185%	$292.9M	$53.0M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,355.2	−0.109%	$21.0M	$44.2M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,357.3	−0.061%	$20.2M	$41.9M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352.9	−0.162%	$13.0M	$49.4M	25x	as long as short
Hotstuff GOLD-PERPshort	+0.0032%	1h	4,350.8	−0.210%	$33K	—	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.219%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,354.5	−0.125%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,390.3	+0.696%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0049%	1h	4,354.6	−0.123%	$221K	$785K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,355.9	−0.093%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.1	−0.179%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,355.4	−0.105%	$19K	$6K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.9	−0.116%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0084%	4h	4,358.7	−0.028%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0095%	1h	4,356	−0.091%	$59K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.6	−0.168%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351.8	−0.187%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.4	−0.266%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.8	−0.187%	$48K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0155%	8h	4,356.8	−0.072%	$158.8M	$267.2M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	−0.162%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,356	−0.092%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0314%	4h	4,359	−0.023%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,356	−0.091%	$251K	—	29x	as long as short