Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.044%

Price spread now: RISEx against SunX−0.131%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on SunX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.131%, 7d avg −0.085%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.045% cheaper against SunX than usual: you would sell low and buy high (spread −0.131% now, against its 7-day average of −0.085%). If the spread goes back, that is −$5 on $10k: about 27 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,364.8	0	get 0.0000% / 4h	2h 18m	$93K	$9.5M	20x
Short	RISEx XAU/USDC	4,359.1	0.0135	get 0.0017% / 1h	18m 09s	$3.4M	$12.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.131%Rate

Funding earned: $28.38
Price spread: −0.131% → −0.085%: −$4.54
Slippage, 4 orders: −$50.4
Fee SunX: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$40.56
Costs to cover: 0.644%
Break-even: 17.0 days

Slippage from SunX: live order book, 11 min ago; RISEx: live order book, 1 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, 11 min ago	23.67 bp	27.7 bp −$28	40.6 bp −$406	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	0.01 bp	3.0 bp −$3	3.4 bp −$34	59.2 bp −$5,924	doesn't fit

XAU on 38 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
Gate XAU_USDT	0.0000%	4h	4,360.5	−0.100%	$263.4M	$412.9M	100x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,364.8	long leg	$93K	$9.5M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.1	−0.177%	$270K	—	250x	as long as short
Aster XAUUSD1	+0.0025%	4h	4,360.1	−0.109%	$70.6M	$293.7M	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,356.7	−0.187%	$13.5M	$42.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.330%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0034%	24h	4,357.5	−0.168%	$4.1M	$36.0M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,359.3	−0.127%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,394	+0.668%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,355.9	−0.205%	$294.3M	$48.4M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,355.6	−0.211%	$14.9M	$58.0M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,358.6	−0.143%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0056%	1h	4,359.5	−0.121%	$20.7M	$43.7M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,361.9	−0.067%	$20.2M	$40.9M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,355.9	−0.205%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0070%	1h	4,360	−0.111%	$4.3M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,355.8	−0.207%	$2.0M	$5.0M	25x	as long as short
Variational Omni XAU	+0.0078%	4h	4,359	−0.133%	$48.3M	$28.1M	—	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,359.4	−0.125%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0094%	4h	4,353.4	−0.263%	$30.3M	$59.8M	50x	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,358.9	−0.135%	$376.0M	$323.5M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,358.9	−0.136%	$409.1M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,356.8	−0.184%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.1	−0.178%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,353	−0.271%	$26K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,359.7	−0.117%	$161K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0110%	4h	4,360	−0.111%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0121%	1h	4,356.9	−0.182%	$48K	$64K	25x	as long as short
RISEx XAU/USDCshort	+0.0135%	1h	4,359.1	−0.131%	$3.4M	$12.4M	25x
Bullet GOLD-USD	+0.0164%	1h	4,361	−0.088%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0174%	4h	4,359.9	−0.113%	$84.1M	$143.8M	150x	as long as short
Bitget XAUUSDT	+0.0180%	4h	4,359.3	−0.128%	$69.5M	$109.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0186%	1h	4,358.8	−0.138%	$243K	$671K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0236%	8h	4,360.6	−0.097%	$164.9M	$282.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358.1	−0.155%	$594K	$139K	25x	as long as short
Phemex XAUUSDT	+0.0331%	4h	4,362	−0.066%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0391% / S −0.0197%	1h	4,361.1	−0.085%	$252K	—	111x	as long as short
HTX XAU-USDT	+0.0542%	4h	4,364.3	−0.012%	$2.9M	$3.9M	75x	as long as short