Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h +0.034%

Price spread now: Phoenix against SunX+0.021%7-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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.233%+$23 on $10k

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 +$4 a day on $10k at the current rate, and Phoenix is 0.021% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,340.7	0	get 0.0000% / 4h	2h 35m	$92K	$8.4M	20x
Short	Phoenix GOLD	4,341.6	0.0127	get 0.0016% / 1h	35m 19s	$47K	$77K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.021%Rate

Funding earned: $26.68
Price spread: +0.021% → 0.000%: $2.1
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $13.78
Costs to cover: 0.150%
Break-even: 3.4 days

Slippage unknown: SunX: live order book, 4 min ago; Phoenix: 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, 4 min ago	23.54 bp	27.5 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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
SunX XAU-USDTlong	0.0000%	4h	4,340.7	long leg	$92K	$8.4M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,332	−0.200%	$271K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,332.3	−0.194%	$13.2M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.224%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.1	+0.009%	$3.8M	$4.5M	40x	as long as short
Bluefin GOLD-PERP	+0.0043%	1h	4,330	−0.245%	$25K	$14K	20x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,337	−0.085%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,369.5	+0.664%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,334	−0.154%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,333.8	−0.159%	$292.6M	$50.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,333.2	−0.173%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,337.3	−0.078%	$3.7M	$12.3M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,335.4	−0.121%	$20.6M	$30.6M	25x	as long as short
Kalshi KXGOLDPERP	+0.0056%	24h	4,335.8	−0.113%	$4.2M	$39.7M	15x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,338.1	−0.059%	$271.8M	$400.3M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,334.1	−0.152%	$2.1M	$4.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,337	−0.085%	$19K	$5K	5x	as long as short
Bybit XAUUSDT	+0.0077%	4h	4,336.5	−0.097%	$79.8M	$152.8M	150x	as long as short
Lighter RH XAU	+0.0096%	1h	4,337.9	−0.063%	$20.0M	$38.4M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,333.5	−0.166%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,336.7	−0.092%	$276K	$204K	50x	as long as short
Variational Omni XAU	+0.0109%	4h	4,335.3	−0.125%	$48.3M	$27.5M	—	as long as short
Aster XAUUSD1	+0.0110%	4h	4,337.7	−0.070%	$71.4M	$331.3M	20x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,336	−0.108%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,336.7	−0.092%	$367.5M	$320.0M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,336.2	−0.104%	$417.6M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0120%	4h	4,336.6	−0.095%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLDshort	+0.0127%	1h	4,341.6	+0.021%	$47K	$77K	25x
GRVT XAU_USDT_Perp	+0.0132%	4h	4,340	−0.017%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0164%	1h	4,336.8	−0.090%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0171%	1h	4,336.1	−0.106%	$4.2M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,333.5	−0.165%	$590K	$129K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,335.1	−0.129%	$202K	$823K	25x	as long as short
HTX XAU-USDT	+0.0260%	4h	4,339.3	−0.033%	$2.8M	$4.7M	75x	as long as short
Bitget XAUUSDT	+0.0282%	4h	4,337.2	−0.079%	$71.8M	$108.6M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0340%	8h	4,336.3	−0.101%	$170.0M	$286.0M	100x	as long as short
Phemex XAUUSDT	+0.0346%	4h	4,340.2	−0.010%	$2.2M	$960K	100x	as long as short
BloFin XAU-USDT	+0.0375%	4h	4,337.4	−0.077%	$15.9M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0449% / S −0.0284%	1h	4,336.6	−0.093%	$250K	—	111x	as long as short