Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.030%

Price spread now: Lighter RH against SunX−0.047%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on SunX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.047%, 7d avg −0.080%

Together, before fees+0.047%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter RH is 0.032% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,337.5	0	get 0.0000% / 4h	1h 06m	$92K	$5.7M	20x
Short	Lighter RH XAU	4,335.4	0.0120	get 0.0015% / 1h	6m 00s	$19.6M	$40.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.047%Rate

Funding earned: $25.2
Price spread: −0.047% → −0.080%: $3.23
Slippage, 4 orders: −$50.32
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$29.88
Costs to cover: 0.583%
Break-even: 15.3 days

Slippage from SunX: live order book, 6 min ago; Lighter RH: live order book, 6 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, 6 min ago	23.55 bp	27.5 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.62 bp	0.6 bp −$1	0.7 bp −$7	3.3 bp −$331	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
Hotstuff GOLD-PERP	−3.2000%	1h	4,329.5	−0.184%	$35K	$3K	25x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,337.5	long leg	$92K	$5.7M	20x
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,328.6	−0.204%	$2.1M	$5.0M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329.6	−0.182%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.299%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333	−0.103%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,331.3	−0.142%	$6.7M	$3.2M	20x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,335	−0.057%	$71.8M	$276.5M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.8	+0.653%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,330.6	−0.158%	$292.7M	$51.6M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,328.6	−0.205%	$15.2M	$59.8M	25x	as long as short
Bluefin GOLD-PERP	+0.0051%	1h	4,326.4	−0.255%	$25K	$1K	20x	as long as short
Paradex XAU-USD-PERP	+0.0056%	8h	4,331.4	−0.141%	$2K	$13K	5x	as long as short
Variational Omni XAU	+0.0069%	4h	4,329.8	−0.178%	$47.2M	$28.4M	—	as long as short
Gate XAU_USDT	+0.0076%	4h	4,334.5	−0.069%	$300.0M	$451.9M	100x	as long as short
Lighter XAU	+0.0080%	1h	4,332.8	−0.107%	$20.1M	$30.6M	25x	as long as short
Binance XAUUSDT	+0.0084%	4h	4,333.3	−0.096%	$442.2M	$2.42B	100x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,333.6	−0.089%	$367.6M	$358.1M	1000x	as long as short
edgeX XAUUSDC	+0.0089%	4h	4,327.6	−0.227%	$30.2M	$66.5M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0092%	4h	4,332.4	−0.118%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,328.6	−0.204%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.4	−0.163%	$287K	$227K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,331.7	−0.133%	$160K	$87	10x	as long as short
Lighter RH XAUshort	+0.0120%	1h	4,335.4	−0.047%	$19.6M	$40.4M	25x
Phoenix GOLD	+0.0127%	1h	4,329.7	−0.179%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0144%	24h	4,332.7	−0.110%	$3.5M	$51.5M	15x	as long as short
Bybit XAUUSDT	+0.0154%	4h	4,334.7	−0.064%	$83.0M	$167.0M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0159%	1h	4,332.5	−0.115%	$4.3M	$1.7M	20x	as long as short
Phemex XAUUSDT	+0.0173%	4h	4,335.1	−0.054%	$2.3M	$777K	100x	as long as short
Bullet GOLD-USD	+0.0178%	1h	4,332.4	−0.117%	$59K	$77K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0189%	1h	4,331.8	−0.131%	$135K	$662K	25x	as long as short
Extended XAU-USD	+0.0192%	1h	4,329.4	−0.186%	$12.5M	$34.2M	25x	as long as short
Bitget XAUUSDT	+0.0200%	4h	4,333.3	−0.097%	$72.6M	$139.9M	100x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,332.6	−0.112%	$4.7M	$13.3M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0230%	8h	4,333.8	−0.085%	$171.2M	$362.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,330.2	−0.168%	$583K	$166K	25x	as long as short
BloFin XAU-USDT	+0.0325%	4h	4,332.8	−0.108%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,332.4	−0.117%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1036%	4h	4,339.4	+0.045%	$3.2M	$7.1M	75x	as long as short