Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0002%/8h= −0.3% APRpaid last 24h −0.001%

Price spread now: SunX against gTrade (Gains Network)+0.191%54s7-day average +0.185% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3243.241% of the position

Long on gTrade (Gains Network)Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.191%, 7d avg +0.185%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XAU/USD	4,337.1	L +0.0002% / S −0.0003%	pay 0.0000% / 1h	38m 25s	$271K	—	250x
Short	SunX XAU-USDT	4,345.4	0	get 0.0000% / 4h	3h 38m	$92K	$8.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee SunXbpOrdersPrice spread, now +0.191%Rate

Funding earned: −$0.49
Price spread: +0.191% → +0.185%: $0.55
Slippage, 4 orders: −$309.06
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$324
Costs to cover: 3.241%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 46 min ago; SunX: live order book, 11 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 gTrade (Gains Network) virtual book (oracle venue), 46 min ago	130.01 bp	133.5 bp −$134	196.7 bp −$1,967	1352.9 bp −$135.3K	5907.8 bp −$2.95M
Sell SunX live order book, 11 min ago	23.50 bp	29.5 bp −$30	47.0 bp −$470	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
SunX XAU-USDTshort	0.0000%	4h	4,345.4	+0.191%	$92K	$8.7M	20x
Bluefin GOLD-PERP	+0.0002%	1h	4,335.3	−0.042%	$25K	$14K	20x	as long as short
gTrade (Gains Network) XAU/USDlong	L +0.0002% / S −0.0003%	1h	4,337.1	long leg	$271K	—	250x
RISEx XAU/USDC	+0.0005%	1h	4,340.1	+0.070%	$3.5M	$12.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,338.1	+0.024%	$33K	—	25x	as long as short
Gate XAU_USDT	+0.0026%	4h	4,342.5	+0.124%	$267.8M	$414.4M	100x	as long as short
Extended XAU-USD	+0.0032%	1h	4,336.6	−0.011%	$13.2M	$37.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.308%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,341.8	+0.108%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.9	+0.111%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0042%	1h	4,338.9	+0.042%	$5.7M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.5	+0.840%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,339.5	+0.056%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.3	+0.028%	$293.5M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,337.3	+0.005%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.4	+0.030%	$4.3M	$37.4M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,337.8	+0.017%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0056%	4h	4,341.7	+0.107%	$80.4M	$151.7M	150x	as long as short
Aster XAUUSD1	+0.0079%	4h	4,342.3	+0.121%	$71.4M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,340.5	+0.079%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,340.5	+0.078%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,337.5	+0.010%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,339.3	+0.050%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,341.2	+0.094%	$370.3M	$319.3M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,340.5	+0.078%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0106%	4h	4,341.1	+0.094%	$416.9M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,336.3	−0.017%	$30.1M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.8	+0.063%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0174%	4h	4,341	+0.091%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,340.8	+0.086%	$4.3M	$1.9M	20x	as long as short
Bullet GOLD-USD	+0.0217%	1h	4,341.2	+0.094%	$59K	$82K	10x	as long as short
Bitget XAUUSDT	+0.0248%	4h	4,341.3	+0.097%	$71.0M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,338.2	+0.027%	$592K	$132K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0280%	1h	4,339.6	+0.058%	$205K	$827K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,341.7	+0.107%	$166.6M	$281.7M	100x	as long as short
Phemex XAUUSDT	+0.0349%	4h	4,344.1	+0.161%	$2.2M	$967K	100x	as long as short
BloFin XAU-USDT	+0.0372%	4h	4,341.7	+0.107%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,341.1	+0.093%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0609%	4h	4,345.7	+0.199%	$2.8M	$4.6M	75x	as long as short