Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.012%

Price spread now: Injective against SunX+0.463%61s7-day average — · you sell dearer than you buy

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.463% dearer against SunX than usual: you sell high and buy low: +$46 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,330.4	0	get 0.0000% / 4h	1h 57m	$92K	$8.0M	20x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	57m 45s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.463%Rate

Funding earned: $7
Price spread: +0.463% → 0.000%: $46.25
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $45.23
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 11 min ago; Injective: 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, 11 min ago	23.56 bp	27.6 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0017%	1h	4,320.4	−0.232%	$25K	$14K	20x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,325.7	−0.108%	$77.9M	$156.7M	150x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,330.4	long leg	$92K	$8.0M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,322.5	−0.182%	$270K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,321.8	−0.198%	$13.1M	$36.6M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	+0.463%	$619	$54	52x
Lighter XAU	+0.0040%	1h	4,323.2	−0.166%	$20.4M	$30.0M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,329.5	−0.021%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,326.1	−0.099%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,359.4	+0.670%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOLD-PERP	+0.0048%	1h	4,323.4	−0.161%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,321.5	−0.205%	$291.5M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,323	−0.170%	$15.0M	$56.2M	25x	as long as short
Kalshi KXGOLDPERP	+0.0066%	24h	4,327.4	−0.069%	$3.9M	$42.5M	15x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,327.2	−0.074%	$270.3M	$403.2M	100x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,327.4	−0.068%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0070%	4h	4,328.6	−0.041%	$1.4M	$3.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,323.6	−0.157%	$2.0M	$4.8M	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,325.3	−0.119%	$19.8M	$38.2M	25x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,326.6	−0.087%	$72.3M	$322.8M	20x	as long as short
Variational Omni XAU	+0.0086%	4h	4,328.3	−0.047%	$46.8M	$28.8M	—	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,325.2	−0.121%	$364.2M	$323.6M	1000x	as long as short
Binance XAUUSDT	+0.0096%	4h	4,324.1	−0.146%	$412.7M	$2.12B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,323.7	−0.156%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,327.3	−0.070%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,325.3	−0.117%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0108%	4h	4,325.5	−0.113%	$30.1M	$60.7M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,327.4	−0.069%	$47K	$76K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,323.4	−0.160%	$589K	$130K	25x	as long as short
Bullet GOLD-USD	+0.0182%	1h	4,326.7	−0.085%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,327.9	−0.058%	$3.8M	$12.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0196%	1h	4,326.7	−0.085%	$4.2M	$1.9M	20x	as long as short
HTX XAU-USDT	+0.0201%	4h	4,330	−0.008%	$2.8M	$5.0M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0213%	1h	4,325.4	−0.115%	$194K	$828K	25x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,324.5	−0.137%	$67.9M	$119.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,325.6	−0.111%	$170.3M	$296.7M	100x	as long as short
BloFin XAU-USDT	+0.0335%	4h	4,328	−0.055%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0388%	4h	4,328.9	−0.034%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,326.8	−0.083%	$253K	—	111x	as long as short