Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h −0.040%

Price spread now: SunX against Polymarket Perps+0.113%7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now +0.113%, 7d avg +0.165%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.053% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.165%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,353	0.0060	pay 0.0007% / 1h	36m 48s	$4.3M	$1.9M	20x
Short	SunX XAU-USDT	4,357.9	0	get 0.0000% / 4h	2h 36m	$93K	$9.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Polymarket Perps. 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 Polymarket PerpsbpFee SunXbpOrdersPrice spread, now +0.113%Rate

Funding earned: −$12.52
Price spread: +0.113% → +0.165%: −$5.26
Slippage, 4 orders: −$51.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$85.71
Costs to cover: 0.679%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; SunX: live order book, 12 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 Polymarket Perps live order book, 2 min ago	1.15 bp	5.3 bp −$5	5.4 bp −$54	5.8 bp −$581	doesn't fit
Sell SunX live order book, 12 min ago	23.68 bp	29.6 bp −$30	47.2 bp −$472	doesn't fit	doesn't fit

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	−0.0316%	1h	4,348.2	−0.111%	$25K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.1	+0.071%	$70.1M	$293.0M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.2	+0.097%	$263.3M	$408.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,352.3	−0.016%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,357.9	+0.113%	$93K	$9.7M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,350.2	−0.065%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	−0.029%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,352.8	−0.005%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.059%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,353.9	+0.020%	$20.6M	$43.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,356	+0.069%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,388.2	+0.809%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,356.2	+0.073%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.5	−0.011%	$293.9M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352.7	−0.006%	$15.0M	$57.7M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,354.8	+0.041%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USDlong	+0.0060%	1h	4,353	long leg	$4.3M	$1.9M	20x
Variational Omni XAU	+0.0061%	4h	4,355.7	+0.062%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.9	−0.048%	$2.0M	$5.0M	25x	as long as short
edgeX XAUUSDC	+0.0084%	4h	4,350.2	−0.064%	$30.3M	$60.6M	50x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,355.6	+0.060%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,355.5	+0.057%	$374.0M	$322.1M	1000x	as long as short
Binance XAUUSDT	+0.0086%	4h	4,355.6	+0.060%	$409.4M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.4	−0.014%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.9	+0.020%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,353.2	+0.004%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,355.1	+0.048%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,355.3	+0.052%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0136%	4h	4,357.5	+0.103%	$1.4M	$2.9M	25x	as long as short
Bitget XAUUSDT	+0.0150%	4h	4,356	+0.068%	$69.2M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,354.2	+0.028%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0185%	4h	4,357	+0.091%	$84.1M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0225%	8h	4,357	+0.092%	$164.9M	$284.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,353.1	+0.002%	$234K	$661K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.2	−0.042%	$593K	$141K	25x	as long as short
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.271%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0382%	4h	4,358.5	+0.127%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,354	+0.024%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0525%	4h	4,358.9	+0.136%	$2.9M	$3.9M	75x	as long as short