Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0093%/8h= +10.1% APRpaid last 24h 0.000%

Price spread now: Kalshi against SunX−0.062%7-day average −0.188% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$700.697% of the position

Long on SunX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.062%, 7d avg −0.188%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kalshi is 0.126% dearer against SunX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.188%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,328.4	0	get 0.0000% / 4h	32m 21s	$92K	$7.3M	20x
Short	Kalshi KXGOLDPERP	4,325.7	0.0093	get 0.0278% / 24h	6h 32m	$3.8M	$44.6M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.062%Rate

Funding earned: $19.43
Price spread: −0.062% → −0.188%: $12.62
Slippage, 4 orders: −$51.68
Fee SunX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$37.63
Costs to cover: 0.697%
Break-even: 20.6 days

Slippage from SunX: live order book, 7 min ago; Kalshi: 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, 7 min ago	23.52 bp	27.5 bp −$28	40.4 bp −$404	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	0.12 bp	7.1 bp −$7	7.2 bp −$72	11.4 bp −$1,139	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	−0.0096%	1h	4,322.5	−0.136%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0086%	1h	4,318.6	−0.226%	$25K	$1K	20x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,328.4	long leg	$92K	$7.3M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,321.6	−0.157%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.509%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.2	−0.027%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,323.3	−0.117%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356.6	+0.652%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,321	−0.171%	$291.7M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,320.5	−0.182%	$15.0M	$55.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0053%	4h	4,325.4	−0.070%	$77.6M	$152.8M	150x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,325.8	−0.059%	$72.9M	$272.0M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,323	−0.124%	$20.5M	$29.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0065%	8h	4,323.9	−0.103%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.5	−0.182%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.9	−0.081%	$47.2M	$29.3M	—	as long as short
Kalshi KXGOLDPERPshort	+0.0093%	24h	4,325.7	−0.062%	$3.8M	$44.6M	15x
Phoenix GOLD	+0.0096%	1h	4,323.3	−0.117%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,321	−0.172%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,324.3	−0.094%	$362.9M	$327.8M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,326.8	−0.037%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.7	−0.131%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,324.2	−0.096%	$425.0M	$2.13B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323.7	−0.108%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0108%	4h	4,326.2	−0.049%	$285.6M	$416.5M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,323.1	−0.122%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,325.7	−0.063%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,320	−0.194%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,324.1	−0.100%	$70.1M	$118.5M	100x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,324.4	−0.092%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,324.4	−0.092%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,322.1	−0.146%	$578K	$135K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,322.4	−0.138%	$163K	$872K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0276%	8h	4,324.8	−0.083%	$173.8M	$299.0M	100x	as long as short
BloFin XAU-USDT	+0.0341%	4h	4,324.9	−0.081%	$16.4M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0370%	4h	4,327.2	−0.027%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0424%	4h	4,331.1	+0.062%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,324.3	−0.095%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,325	−0.078%	$4.6M	$13.3M	25x	as long as short