Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.020%

Price spread now: StandX against SunX−0.067%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$710.715% of the position

Long on SunX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now −0.067%, 7d avg −0.086%

Together, before fees+0.069%+ Points / potential airdropStandX: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.086%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,361.1	0	get 0.0000% / 4h	2h 40m	$93K	$9.7M	20x
Short	StandX XAU-USD	4,358.2	0.0040	get 0.0005% / 1h	40m 58s	$3.8M	$4.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.067%Rate

Funding earned: $8.4
Price spread: −0.067% → −0.086%: $1.86
Slippage, 4 orders: −$55.46
Fee SunX: 4 bp × 2 orders: −$8
Fee StandX: 4 bp × 2 orders: −$8
Net: −$61.2
Costs to cover: 0.715%
Break-even: 58.0 days

Slippage from SunX: live order book, 8 min ago; StandX: live order book, 3 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, 8 min ago	23.68 bp	27.7 bp −$28	40.7 bp −$407	doesn't fit	doesn't fit
Sell StandX live order book, 3 min ago	2.64 bp	6.9 bp −$7	7.2 bp −$72	10.0 bp −$999	12.0 bp −$5,989

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	−0.0318%	1h	4,348.4	−0.292%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0104%	1h	4,352	−0.209%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,357.7	−0.078%	$69.7M	$281.9M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,358.7	−0.055%	$263.2M	$406.9M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,353.1	−0.184%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,361.1	long leg	$93K	$9.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,352.5	−0.198%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.3	−0.179%	$13.6M	$43.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.245%	$619	$54	52x	as long as short
StandX XAU-USDshort	+0.0040%	1h	4,358.2	−0.067%	$3.8M	$4.7M	40x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,389.1	+0.642%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,356.3	−0.110%	$20.7M	$43.5M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,358.9	−0.052%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.5	−0.152%	$293.8M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.8	−0.191%	$15.0M	$57.5M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,354.6	−0.150%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,354.8	−0.145%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	−0.124%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.6	−0.241%	$2.0M	$5.0M	25x	as long as short
MEXC XAU_USDT	+0.0080%	4h	4,357.2	−0.090%	$372.4M	$321.4M	1000x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,357	−0.094%	$410.4M	$2.11B	100x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,355	−0.140%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.211%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,351.7	−0.216%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.178%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,355.8	−0.121%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.147%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,355.2	−0.136%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,358.7	−0.056%	$1.4M	$3.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,355.2	−0.136%	$234K	$661K	25x	as long as short
Bitget XAUUSDT	+0.0144%	4h	4,357.7	−0.080%	$69.3M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0156%	1h	4,355.5	−0.128%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0183%	4h	4,358.1	−0.068%	$84.1M	$143.5M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0224%	8h	4,358.9	−0.051%	$164.9M	$284.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,353.1	−0.183%	$594K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.084%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.5	−0.128%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0411%	4h	4,360.9	−0.006%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0530%	4h	4,361	−0.003%	$2.9M	$3.9M	75x	as long as short