Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0194%/8h= −21.2% APRpaid last 24h −0.084%

Price spread now: SunX against Kraken Futures+0.157%7-day average +0.164% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$740.736% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.356%−$36 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now +0.157%, 7d avg +0.164%

Together, before fees−0.351%−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.164%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,343.4	0.0194	pay 0.0024% / 1h	34m 27s	$592K	$132K	25x
Short	SunX XAU-USDT	4,350.2	0	get 0.0000% / 4h	34m 27s	$92K	$9.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. 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 Kraken FuturesbpFee SunXbpOrdersPrice spread, now +0.157%Rate

Funding earned: −$40.71
Price spread: +0.157% → +0.164%: −$0.71
Slippage, 4 orders: −$55.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$115.02
Costs to cover: 0.736%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 24 min ago; SunX: live order book, 5 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 Kraken Futures live order book, 24 min ago	2.97 bp	8.2 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	23.62 bp	29.6 bp −$30	47.1 bp −$471	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
RISEx XAU/USDC	0.0000%	1h	4,347	+0.083%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,350.2	+0.157%	$92K	$9.0M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343	−0.009%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0008%	4h	4,348	+0.104%	$267.7M	$412.0M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,345.7	+0.053%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.005%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.161%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,347.7	+0.099%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.1	+0.085%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.8	+0.078%	$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
Kalshi KXGOLDPERP	+0.0045%	24h	4,344.5	+0.025%	$4.1M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.8	+0.838%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.1	−0.007%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.7	+0.006%	$293.7M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.7	+0.006%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0064%	4h	4,347.5	+0.093%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0080%	4h	4,346.7	+0.075%	$48.5M	$27.8M	—	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,347.3	+0.088%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0088%	4h	4,348.2	+0.110%	$1.4M	$3.0M	25x	as long as short
Binance XAUUSDT	+0.0093%	4h	4,347.1	+0.085%	$413.9M	$2.09B	100x	as long as short
MEXC XAU_USDT	+0.0094%	4h	4,347.1	+0.085%	$372.8M	$317.6M	1000x	as long as short
edgeX XAUUSDC	+0.0095%	4h	4,343.4	−0.001%	$30.2M	$58.3M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.3	−0.003%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.8	+0.078%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,345.6	+0.051%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	+0.089%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0151%	1h	4,346.6	+0.073%	$4.3M	$1.9M	20x	as long as short
Hotstuff GOLD-PERP	+0.0160%	1h	4,343.7	+0.006%	$33K	—	25x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0194%	1h	4,343.4	long leg	$592K	$132K	25x
Bullet GOLD-USD	+0.0199%	1h	4,346.9	+0.080%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,345.3	+0.043%	$243K	$789K	25x	as long as short
Phemex XAUUSDT	+0.0218%	4h	4,349.7	+0.144%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,347.3	+0.089%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,348.4	+0.115%	$85.0M	$145.0M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0284%	8h	4,348.4	+0.115%	$165.6M	$281.7M	100x	as long as short
Bluefin GOLD-PERP	+0.0285%	1h	4,340.5	−0.066%	$25K	$14K	20x	as long as short
BloFin XAU-USDT	+0.0344%	4h	4,346.1	+0.062%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0230%	1h	4,347	+0.082%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0626%	4h	4,351.6	+0.188%	$2.9M	$4.3M	75x	as long as short