Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.018%

Price spread now: Extended against SunX−0.181%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$620.624% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.181%, 7d avg −0.157%

Together, before fees+0.041%+ Points / potential airdropExtended: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.024% cheaper against SunX than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of −0.157%). If the spread goes back, that is −$2 on $10k: about 2.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,349.3	0	get 0.0000% / 4h	3h 06m	$92K	$8.6M	20x
Short	Extended XAU-USD	4,341.4	0.0032	get 0.0004% / 1h	6m 59s	$13.2M	$37.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.181%Rate

Funding earned: $6.72
Price spread: −0.181% → −0.157%: −$2.44
Slippage, 4 orders: −$49.39
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$58.1
Costs to cover: 0.624%
Break-even: 67.5 days

Slippage from SunX: live order book, 12 min ago; Extended: live order book, 2 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, 12 min ago	23.60 bp	27.6 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.12 bp	2.6 bp −$3	3.8 bp −$38	9.3 bp −$929	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	−0.0005%	1h	4,338.1	−0.256%	$25K	$14K	20x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,349.3	long leg	$92K	$8.6M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.9	−0.192%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,345.1	−0.095%	$3.7M	$12.5M	25x	as long as short
Extended XAU-USDshort	+0.0032%	1h	4,341.4	−0.181%	$13.2M	$37.2M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.027%	$619	$54	52x	as long as short
Hotstuff GOLD-PERP	+0.0040%	1h	4,341.5	−0.178%	$33K	—	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.3	−0.091%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.1	−0.119%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,377.4	+0.647%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,341.8	−0.172%	$293.7M	$49.1M	25x	as long as short
Bybit XAUUSDT	+0.0050%	4h	4,346.7	−0.059%	$80.1M	$152.0M	150x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,341.5	−0.178%	$15.0M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0052%	24h	4,341.9	−0.169%	$4.3M	$37.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,344.2	−0.116%	$20.7M	$34.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.7	−0.174%	$2.1M	$4.7M	25x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,347.2	−0.047%	$268.5M	$418.8M	100x	as long as short
Paradex XAU-USD-PERP	+0.0065%	8h	4,344.7	−0.104%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0080%	1h	4,346.7	−0.060%	$20.2M	$40.1M	25x	as long as short
Aster XAUUSD1	+0.0096%	4h	4,346.5	−0.064%	$71.5M	$331.5M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,340.9	−0.192%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.4	−0.204%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0105%	4h	4,342.7	−0.152%	$48.4M	$27.5M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,343.9	−0.122%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,345.6	−0.085%	$370.7M	$321.3M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,345.9	−0.078%	$418.8M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0135%	4h	4,340	−0.212%	$30.2M	$57.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,342	−0.167%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0154%	4h	4,343.9	−0.123%	$1.4M	$2.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0188%	1h	4,343.3	−0.137%	$204K	$826K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0204%	1h	4,344.6	−0.107%	$4.2M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,344.8	−0.103%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0218%	4h	4,347.6	−0.039%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,341.8	−0.172%	$590K	$135K	25x	as long as short
Bitget XAUUSDT	+0.0274%	4h	4,346.1	−0.074%	$71.1M	$108.8M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0329%	8h	4,346.9	−0.054%	$167.3M	$283.0M	100x	as long as short
BloFin XAU-USDT	+0.0360%	4h	4,345	−0.097%	$15.7M	$4.4M	100x	as long as short
HTX XAU-USDT	+0.0424%	4h	4,346.8	−0.057%	$2.8M	$4.6M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,344.8	−0.102%	$250K	—	111x	as long as short