Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h +0.045%

Price spread now: Bullet against SunX−0.096%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bullet is 0.096% cheaper against SunX than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 36 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,348.3	0	get 0.0000% / 4h	3h 14m	$92K	$8.6M	20x
Short	Bullet GOLD-USD	4,344.1	0.0210	get 0.0026% / 1h	14m 54s	$59K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.096%Rate

Funding earned: $44.19
Price spread: −0.096% → 0.000%: −$9.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bullet: 4 bp × 2 orders: −$8
Net: $18.59
Costs to cover: 0.160%
Break-even: 4.1 days

Slippage unknown: SunX: live order book, 4 min ago; Bullet: no order-book sample. Net counts fees only.

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, 4 min ago	23.60 bp	27.6 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USDTlong	0.0000%	4h	4,348.3	long leg	$92K	$8.6M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.1	−0.189%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,344.6	−0.086%	$3.8M	$12.5M	25x	as long as short
Bluefin GOLD-PERP	+0.0011%	1h	4,337.5	−0.250%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.1	−0.189%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.049%	$619	$54	52x	as long as short
Bybit XAUUSDT	+0.0039%	4h	4,345.3	−0.070%	$79.9M	$152.1M	150x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,340.6	−0.177%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.1	−0.074%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,343.7	−0.106%	$5.6M	$2.1M	20x	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	4,376.7	+0.653%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340.7	−0.175%	$293.6M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.2	−0.164%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,342.2	−0.141%	$4.3M	$37.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,343.1	−0.119%	$20.7M	$34.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.3	−0.207%	$2.1M	$4.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,343.8	−0.103%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,345.5	−0.064%	$20.2M	$40.1M	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,345.8	−0.057%	$268.3M	$418.3M	100x	as long as short
Aster XAUUSD1	+0.0095%	4h	4,345.5	−0.065%	$71.5M	$331.7M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,340.2	−0.186%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.8	−0.172%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0107%	4h	4,343.1	−0.121%	$48.4M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.3	−0.115%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,344.1	−0.097%	$371.5M	$320.9M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,344.4	−0.089%	$418.7M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.9	−0.170%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0136%	4h	4,340.1	−0.189%	$30.2M	$58.3M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0165%	1h	4,342.4	−0.136%	$205K	$825K	25x	as long as short
Phemex XAUUSDT	+0.0170%	4h	4,346.7	−0.038%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0172%	4h	4,344.3	−0.092%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0209%	1h	4,343.6	−0.108%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USDshort	+0.0210%	1h	4,344.1	−0.096%	$59K	$82K	10x
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.5	−0.179%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0270%	4h	4,344.9	−0.079%	$71.1M	$109.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0327%	8h	4,345.1	−0.074%	$167.2M	$282.7M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,344.1	−0.097%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,344.1	−0.096%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0501%	4h	4,346.8	−0.035%	$2.8M	$4.6M	75x	as long as short