Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: tradeXYZ against SunX−0.158%7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$850.847% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.158%, 7d avg −0.184%

Together, before fees+0.119%+ Points / potential airdroptradeXYZ: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.025% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.184%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,336.8	0	get 0.0000% / 4h	1h 26m	$92K	$5.8M	20x
Short	tradeXYZ xyz:GOLD	4,329.9	0.0050	get 0.0006% / 1h	26m 56s	$292.7M	$51.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.158%Rate

Funding earned: $10.5
Price spread: −0.158% → −0.184%: $2.54
Slippage, 4 orders: −$58.71
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$71.67
Costs to cover: 0.847%
Break-even: 54.8 days

Slippage from SunX: live order book, 5 min ago; tradeXYZ: live order book, 5 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, 5 min ago	26.62 bp	30.6 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.12 bp	9.1 bp −$9	9.3 bp −$93	11.9 bp −$1,189	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	4,331.1	−0.131%	$32K	—	25x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,336.8	long leg	$92K	$5.8M	20x
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,330.5	−0.144%	$2.1M	$5.0M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.4	−0.146%	$304K	—	250x	as long as short
Bluefin GOLD-PERP	+0.0022%	1h	4,327.8	−0.208%	$25K	$1K	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.315%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0038%	4h	4,335.4	−0.031%	$72.1M	$276.1M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,334.9	−0.043%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,332.9	−0.089%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,366.8	+0.693%	—	$1.0M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLDshort	+0.0050%	1h	4,329.9	−0.158%	$292.7M	$51.7M	25x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.9	−0.159%	$15.1M	$59.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0053%	8h	4,333.5	−0.075%	$2K	$13K	5x	as long as short
Variational Omni XAU	+0.0064%	4h	4,333.5	−0.075%	$47.3M	$28.7M	—	as long as short
Lighter XAU	+0.0072%	1h	4,332.6	−0.097%	$20.1M	$30.5M	25x	as long as short
Gate XAU_USDT	+0.0076%	4h	4,334.9	−0.043%	$298.1M	$447.7M	100x	as long as short
MEXC XAU_USDT	+0.0078%	4h	4,334	−0.065%	$368.3M	$355.4M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0078%	4h	4,334.1	−0.061%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0079%	4h	4,333.8	−0.068%	$441.4M	$2.43B	100x	as long as short
edgeX XAUUSDC	+0.0082%	4h	4,330.2	−0.150%	$30.3M	$66.5M	50x	as long as short
Lighter RH XAU	+0.0096%	1h	4,334.8	−0.046%	$19.6M	$40.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0096%	1h	4,331.1	−0.131%	$135K	$708K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,330.8	−0.137%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,329.9	−0.159%	$287K	$227K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,331.9	−0.113%	$160K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,333.2	−0.082%	$4.3M	$1.7M	20x	as long as short
Phoenix GOLD	+0.0127%	1h	4,332	−0.110%	$43K	$71K	25x	as long as short
Bybit XAUUSDT	+0.0127%	4h	4,335.2	−0.036%	$82.7M	$169.3M	150x	as long as short
Kalshi KXGOLDPERP	+0.0140%	24h	4,335	−0.041%	$3.5M	$51.2M	15x	as long as short
Extended XAU-USD	+0.0144%	1h	4,329.8	−0.160%	$12.5M	$34.5M	25x	as long as short
Bullet GOLD-USD	+0.0159%	1h	4,333	−0.087%	$59K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0198%	4h	4,334	−0.063%	$72.6M	$140.0M	100x	as long as short
Phemex XAUUSDT	+0.0199%	4h	4,335.5	−0.028%	$2.3M	$777K	100x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,334.1	−0.062%	$4.7M	$13.2M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0232%	8h	4,334.4	−0.054%	$170.7M	$361.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,330.2	−0.151%	$583K	$167K	25x	as long as short
BloFin XAU-USDT	+0.0318%	4h	4,334.3	−0.057%	$16.4M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,332.9	−0.089%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1044%	4h	4,340.1	+0.077%	$3.2M	$7.1M	75x	as long as short