Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.015%

Price spread now: Hotstuff against SunX−0.178%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 Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.178% cheaper against SunX than usual: you would sell low and buy high (spread −0.178% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 4.1 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,353.4	0	get 0.0000% / 4h	38m 19s	$93K	$9.0M	20x
Short	Hotstuff GOLD-PERP	4,345.7	0.0144	get 0.0018% / 1h	38m 19s	$33K	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.178%Rate

Funding earned: $30.24
Price spread: −0.178% → 0.000%: −$17.78
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$0.54
Costs to cover: 0.130%
Break-even: 7.1 days

Slippage unknown: SunX: live order book, 11 min ago; Hotstuff: 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, 11 min ago	23.60 bp	27.6 bp −$28	40.5 bp −$405	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
RISEx XAU/USDC	0.0000%	1h	4,348.8	−0.107%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,353.4	long leg	$93K	$9.0M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.5	−0.182%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0012%	4h	4,350.1	−0.077%	$267.9M	$411.0M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,347.7	−0.131%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.5	−0.183%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.069%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.8	−0.084%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	−0.095%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,348.4	−0.116%	$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	+0.0044%	24h	4,346.5	−0.159%	$4.2M	$37.1M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.2	+0.661%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,345.7	−0.178%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.8	−0.175%	$293.9M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.5	−0.182%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,349.7	−0.085%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0079%	4h	4,348.9	−0.104%	$48.4M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	−0.100%	$1.4M	$3.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,348.8	−0.106%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,349.3	−0.095%	$372.2M	$317.1M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,349.4	−0.093%	$414.4M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	−0.186%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.6	−0.181%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,348.5	−0.114%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,345	−0.194%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0142%	1h	4,346.8	−0.153%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERPshort	+0.0144%	1h	4,345.7	−0.178%	$33K	—	25x
Polymarket Perps GOLD-USD	+0.0156%	1h	4,348.8	−0.107%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,346.1	−0.169%	$593K	$133K	25x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,349.4	−0.093%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0209%	4h	4,351.5	−0.045%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,348	−0.125%	$243K	$788K	25x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,349.6	−0.088%	$70.0M	$109.1M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,350.5	−0.068%	$85.1M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0283%	8h	4,350.4	−0.070%	$165.6M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0343%	4h	4,348.5	−0.113%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0229%	1h	4,349.4	−0.093%	$248K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0475%	1h	4,342.6	−0.250%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0629%	4h	4,353.6	+0.003%	$2.9M	$4.3M	75x	as long as short