Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.185%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$930.931% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now −0.185%, 7d avg −0.139%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.046% cheaper against SunX than usual: you would sell low and buy high (spread −0.185% now, against its 7-day average of −0.139%). If the spread goes back, that is −$5 on $10k: about 37 hours 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	4,352.1	0	get 0.0000% / 4h	1h 46m	$92K	$9.4M	20x
Short	ApeX Omni XAUUSDT	4,344	0.0100	get 0.0013% / 1h	46m 31s	$274K	$203K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.185%Rate

Funding earned: $21
Price spread: −0.185% → −0.139%: −$4.58
Slippage, 4 orders: −$75.15
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$76.73
Costs to cover: 0.931%
Break-even: 32.6 days

Slippage from SunX: live order book, 13 min ago; ApeX Omni: live order book, 16 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, 13 min ago	23.65 bp	27.6 bp −$28	40.6 bp −$406	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 16 min ago	4.79 bp	19.9 bp −$20	34.7 bp −$347	44.0 bp −$4,399	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
Hotstuff GOLD-PERP	−0.0016%	1h	4,344.4	−0.176%	$33K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0007%	1h	4,342.2	−0.227%	$25K	$14K	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,348.9	−0.072%	$264.6M	$407.3M	100x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,352.1	long leg	$92K	$9.4M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.3	−0.202%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.2	−0.111%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.9	−0.211%	$13.6M	$39.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.038%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0037%	24h	4,345.1	−0.160%	$4.2M	$36.4M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	−0.086%	$3.8M	$4.6M	40x	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	4,380.6	+0.656%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,346.8	−0.121%	$5.6M	$1.9M	20x	as long as short
Aster XAUUSD1	+0.0047%	4h	4,348.2	−0.089%	$70.0M	$331.4M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.1	−0.206%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.5	−0.174%	$293.3M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.8	−0.190%	$15.1M	$57.7M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,345.8	−0.145%	$20.6M	$41.9M	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,348.4	−0.083%	$20.1M	$39.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,346.7	−0.123%	$19K	$5K	5x	as long as short
Binance XAUUSDT	+0.0098%	4h	4,347.4	−0.107%	$411.2M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.1	−0.183%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,347.1	−0.114%	$371.2M	$316.6M	1000x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,344	−0.185%	$274K	$203K	50x
Variational Omni XAU	+0.0102%	4h	4,347.9	−0.096%	$48.3M	$27.9M	—	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347.2	−0.111%	$161K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0117%	1h	4,347.1	−0.114%	$4.3M	$1.9M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0118%	4h	4,349.4	−0.060%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,342.6	−0.218%	$30.2M	$58.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,347.8	−0.098%	$47K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0201%	4h	4,348.5	−0.082%	$84.4M	$145.1M	150x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,348	−0.093%	$58K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0208%	4h	4,347.3	−0.109%	$69.6M	$109.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,345.8	−0.144%	$259K	$704K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0248%	8h	4,347.9	−0.096%	$164.4M	$282.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,344.5	−0.175%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0352%	4h	4,351	−0.025%	$2.2M	$1.1M	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,347.8	−0.098%	—	$4.7M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0399% / S −0.0208%	1h	4,347.8	−0.098%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0580%	4h	4,353.1	+0.024%	$2.8M	$4.2M	75x	as long as short