Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.046%

Price spread now: SunX against Bullet+0.092%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.092% dearer against Bullet than usual: you sell high and buy low (spread +0.092% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet GOLD-USD	4,307	0.0199	pay 0.0025% / 1h	3m 23s	$59K	$81K	10x
Short	SunX XAU-USDT	4,311	0	get 0.0000% / 4h	3m 23s	$92K	$7.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bullet. 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 BulletbpFee SunXbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$41.79
Price spread: +0.092% → 0.000%: $9.22
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$48.57
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; SunX: live order book, 6 min ago. 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 Bullet no order-book sample	—	—	—	—	—
Sell SunX live order book, 6 min ago	23.46 bp	32.0 bp −$32	64.0 bp −$640	doesn't fit	doesn't fit

Bullet: 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-USDTshort	0.0000%	4h	4,311	+0.092%	$92K	$7.0M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,303	−0.093%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.008%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,305.2	−0.042%	$6.6M	$3.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,338.8	+0.738%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.4	−0.084%	$289.7M	$52.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.6	−0.079%	$15.0M	$55.2M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,308.5	+0.035%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,306.1	−0.020%	$2K	$14K	5x	as long as short
Bybit XAUUSDT	+0.0071%	4h	4,307.7	+0.016%	$77.3M	$155.6M	150x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0072%	1h	4,305.5	−0.035%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,301.8	−0.121%	$2.0M	$5.1M	25x	as long as short
Bluefin GOLD-PERP	+0.0086%	1h	4,301.9	−0.118%	$25K	$1K	20x	as long as short
Phoenix GOLD	+0.0096%	1h	4,305.5	−0.035%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,303	−0.093%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,304	−0.071%	$269K	$214K	50x	as long as short
Kalshi KXGOLDPERP	+0.0100%	24h	4,308.9	+0.044%	$3.6M	$45.5M	15x	as long as short
Variational Omni XAU	+0.0101%	4h	4,306.5	−0.011%	$46.7M	$29.3M	—	as long as short
Lighter RH XAU	+0.0104%	1h	4,308	+0.023%	$19.9M	$40.3M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,303.1	−0.090%	$13.1M	$36.7M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,307.1	+0.003%	$365.6M	$342.8M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,307.1	+0.001%	$429.0M	$2.16B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,306.6	−0.009%	$159K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,308	+0.023%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0118%	4h	4,309.2	+0.052%	$287.8M	$432.7M	100x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,303.9	−0.072%	$32K	—	25x	as long as short
edgeX XAUUSDC	+0.0130%	4h	4,304.2	−0.066%	$29.9M	$60.3M	50x	as long as short
StandX XAU-USD	+0.0161%	1h	4,309.9	+0.067%	$3.8M	$4.5M	40x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0191%	1h	4,305.8	−0.028%	$136K	$866K	25x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,307.1	+0.003%	$70.7M	$121.8M	100x	as long as short
Bullet GOLD-USDlong	+0.0199%	1h	4,307	long leg	$59K	$81K	10x
Polymarket Perps GOLD-USD	+0.0222%	1h	4,307.2	+0.005%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0229%	1h	4,304.6	−0.055%	$573K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0259%	8h	4,306	−0.023%	$172.8M	$311.4M	100x	as long as short
BloFin XAU-USDT	+0.0373%	4h	4,307.1	+0.001%	$16.6M	$4.9M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,307	+0.001%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0496%	4h	4,311.5	+0.105%	$2.2M	$951K	100x	as long as short
HTX XAU-USDT	+0.0547%	4h	4,314.1	+0.165%	$3.2M	$6.2M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	+0.010%	$4.5M	$13.1M	25x	as long as short