Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.260%

Price spread now: Bluefin against SunX−0.264%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Bluefin is 0.264% cheaper against SunX than usual: you would sell low and buy high (spread −0.264% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 8.8 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,351.7	0	get 0.0000% / 4h	7m 38s	$92K	$8.9M	20x
Short	Bluefin GOLD-PERP	4,340.2	0.0100	get 0.0013% / 1h	7m 38s	$25K	$14K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.264%Rate

Funding earned: $21
Price spread: −0.264% → 0.000%: −$26.4
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$20.4
Costs to cover: 0.150%
Break-even: 13.8 days

Slippage unknown: SunX: live order book, 11 min ago; Bluefin: no order-book sample. 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 SunX live order book, 11 min ago	23.63 bp	27.6 bp −$28	40.6 bp −$406	doesn't fit	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
RISEx XAU/USDC	0.0000%	1h	4,347.5	−0.097%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,349.4	−0.052%	$266.6M	$417.8M	100x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,351.7	long leg	$92K	$8.9M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.9	−0.201%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,346.7	−0.115%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344	−0.177%	$13.2M	$38.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.029%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,348.5	−0.074%	$20.1M	$39.5M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	−0.078%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,347.5	−0.096%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380.8	+0.669%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.8	−0.158%	$2.0M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0049%	24h	4,345.6	−0.140%	$4.2M	$37.4M	15x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.5	−0.165%	$293.9M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.2	−0.172%	$15.1M	$56.8M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,344.4	−0.167%	$33K	—	25x	as long as short
Aster XAUUSD1	+0.0064%	4h	4,348.2	−0.081%	$71.3M	$333.1M	20x	as long as short
Variational Omni XAU	+0.0076%	4h	4,345.3	−0.147%	$48.4M	$28.2M	—	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,347.7	−0.092%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0090%	4h	4,347	−0.108%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0090%	4h	4,348.1	−0.083%	$372.7M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0091%	4h	4,348.1	−0.082%	$413.9M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,344	−0.176%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	−0.193%	$274K	$203K	50x	as long as short
Bluefin GOLD-PERPshort	+0.0100%	1h	4,340.2	−0.264%	$25K	$14K	20x
edgeX XAUUSDC	+0.0101%	4h	4,342.2	−0.217%	$30.2M	$58.0M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.5	−0.119%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,344.7	−0.160%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0167%	1h	4,348	−0.085%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,347.3	−0.101%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,344.6	−0.163%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0226%	4h	4,349.4	−0.053%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,345.8	−0.135%	$206K	$825K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,348.7	−0.068%	$70.6M	$109.3M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,349.6	−0.049%	$85.1M	$145.4M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0300%	8h	4,349.4	−0.052%	$165.4M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0330%	4h	4,347.7	−0.091%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0418% / S −0.0240%	1h	4,347.2	−0.103%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0616%	4h	4,351.3	−0.009%	$2.8M	$4.6M	75x	as long as short