Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.039%

Price spread now: SunX against Polymarket Perps+0.124%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$670.673% 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−0.137%−$14 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now +0.124%, 7d avg +0.166%

Together, before fees−0.060%−$6 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 0.042% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.166%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,361.4	0.0053	pay 0.0007% / 1h	56m 09s	$4.3M	$1.8M	20x
Short	SunX XAU-USDT	4,366.8	0	get 0.0000% / 4h	2h 56m	$93K	$9.9M	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 +0.124%Rate

Funding earned: −$11.19
Price spread: +0.124% → +0.166%: −$4.22
Slippage, 4 orders: −$51.34
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$82.75
Costs to cover: 0.673%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; SunX: live order book, 13 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, 3 min ago	0.80 bp	5.0 bp −$5	5.1 bp −$51	5.8 bp −$579	doesn't fit
Sell SunX live order book, 13 min ago	23.67 bp	29.8 bp −$30	47.3 bp −$473	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	−0.0392%	1h	4,356	−0.125%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,365.4	+0.091%	$68.6M	$252.8M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,367.1	+0.130%	$264.2M	$401.3M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,361.1	−0.007%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDTshort	0.0000%	4h	4,366.8	+0.124%	$93K	$9.9M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,358.2	−0.073%	$269K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,357.3	−0.094%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,358.9	−0.057%	$13.5M	$43.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.252%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,363.7	+0.053%	$20.6M	$43.2M	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	4,362	+0.014%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,396.2	+0.798%	—	$1.0M	25x	as long as short
Variational Omni XAU	+0.0049%	4h	4,361.5	+0.002%	$48.4M	$28.6M	—	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.6	+0.028%	$294.4M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,360.6	−0.017%	$14.9M	$57.3M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,363.8	+0.055%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USDlong	+0.0053%	1h	4,361.4	long leg	$4.3M	$1.8M	20x
Phoenix GOLD	+0.0055%	1h	4,358.9	−0.057%	$48K	$64K	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,366.8	+0.125%	$20.2M	$40.6M	25x	as long as short
MEXC XAU_USDT	+0.0062%	4h	4,365.6	+0.097%	$374.6M	$319.2M	1000x	as long as short
edgeX XAUUSDC	+0.0062%	4h	4,356.3	−0.116%	$30.3M	$60.0M	50x	as long as short
Binance XAUUSDT	+0.0064%	4h	4,366.5	+0.118%	$411.6M	$2.12B	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,359.3	−0.048%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.2	+0.042%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,362.2	+0.018%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.6	−0.018%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,358.5	−0.067%	$275K	$204K	50x	as long as short
Bitget XAUUSDT	+0.0116%	4h	4,366.5	+0.118%	$69.6M	$111.2M	100x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,363.8	+0.055%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0154%	4h	4,362.8	+0.032%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,362	+0.014%	$235K	$659K	25x	as long as short
Bullet GOLD-USD	+0.0182%	1h	4,362.5	+0.025%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0203%	4h	4,367.5	+0.140%	$83.6M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0217%	8h	4,367.9	+0.149%	$164.3M	$287.4M	100x	as long as short
BloFin XAU-USDT	+0.0255%	4h	4,362.8	+0.031%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,360.7	−0.016%	$595K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0289%	4h	4,366.7	+0.122%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0395% / S −0.0199%	1h	4,362.2	+0.018%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0547%	4h	4,368.7	+0.168%	$2.9M	$3.9M	75x	as long as short