Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0247%/8h= +27.1% APRpaid last 24h +0.081%

Price spread now: Kraken Futures against SunX−0.142%7-day average −0.164% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

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

costs, in and out, $10k−$750.751% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.361%+$36 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.142%, 7d avg −0.164%

Together, before fees+0.326%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.022% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.164%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,337.6	0	get 0.0000% / 4h	2h 10m	$92K	$8.1M	20x
Short	Kraken Futures PF_XAUUSD	4,331.5	0.0247	get 0.0031% / 1h	10m 05s	$590K	$130K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.142%Rate

Funding earned: $51.91
Price spread: −0.142% → −0.164%: $2.22
Slippage, 4 orders: −$57.12
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.99
Costs to cover: 0.751%
Break-even: 9.8 days

Slippage from SunX: live order book, 9 min ago; Kraken Futures: live order book, 38 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, 9 min ago	23.52 bp	27.5 bp −$28	40.4 bp −$404	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 38 min ago	2.90 bp	9.4 bp −$9	17.2 bp −$172	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	−0.0049%	1h	4,326.7	−0.253%	$25K	$14K	20x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,337.6	long leg	$92K	$8.1M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329.9	−0.180%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,335.9	−0.040%	$78.4M	$156.7M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,329.9	−0.179%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.295%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333	−0.107%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,332.7	−0.114%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.6	+0.645%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,334.5	−0.074%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,331.4	−0.144%	$292.1M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.9	−0.178%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,334.8	−0.067%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,334.7	−0.068%	$4.0M	$42.2M	15x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,336	−0.038%	$271.9M	$416.7M	100x	as long as short
Lighter RH XAU	+0.0072%	1h	4,336.3	−0.030%	$19.9M	$38.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330.9	−0.155%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,333.3	−0.101%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,336.5	−0.027%	$72.3M	$330.7M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,329.6	−0.185%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.2	−0.311%	$272K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	−0.142%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	−0.276%	$1.4M	$3.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,329.6	−0.185%	$32K	—	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,334.9	−0.063%	$365.0M	$330.5M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,335.1	−0.058%	$414.9M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,333.8	−0.088%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.255%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0128%	4h	4,322.8	−0.342%	$30.1M	$60.2M	50x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,333.7	−0.091%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0177%	1h	4,333.6	−0.093%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0232%	4h	4,336.7	−0.021%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0247%	1h	4,331.5	−0.142%	$590K	$130K	25x
Bitget XAUUSDT	+0.0256%	4h	4,334.9	−0.063%	$68.1M	$118.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,334.2	−0.079%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0332%	8h	4,335.1	−0.059%	$170.8M	$297.0M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,333.3	−0.099%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0387%	4h	4,335.2	−0.056%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0302%	1h	4,334	−0.084%	$253K	—	111x	as long as short