Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.023%

Price spread now: Lighter against SunX−0.111%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$590.586% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.179%+$18 on $10k

Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.111%, 7d avg −0.142%

Together, before fees+0.152%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.031% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,378.8	0	get 0.0000% / 4h	3h 47m	$93K	$10.4M	20x
Short	Lighter XAU	4,373.9	0.0072	get 0.0009% / 1h	47m 20s	$20.8M	$43.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.111%Rate

Funding earned: $15.12
Price spread: −0.111% → −0.142%: $3.06
Slippage, 4 orders: −$50.57
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.4
Costs to cover: 0.586%
Break-even: 25.7 days

Slippage from SunX: live order book, 12 min ago; Lighter: live order book, 7 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	23.72 bp	27.7 bp −$28	40.7 bp −$407	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.45 bp	0.7 bp −$1	1.5 bp −$15	10.1 bp −$1,007	23.3 bp −$11.6K

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	−0.0106%	1h	4,368	−0.245%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0032%	1h	4,372.3	−0.147%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,374.5	−0.098%	$71.2M	$208.2M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,374.9	−0.088%	$410.1M	$2.15B	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375	−0.086%	$374.3M	$321.4M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,374.3	−0.101%	$48.7M	$27.9M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,371.9	−0.156%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,378.8	long leg	$93K	$10.4M	20x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,370.1	−0.197%	$268K	—	250x	as long as short
Bitget XAUUSDT	+0.0004%	4h	4,374.4	−0.100%	$69.7M	$114.3M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XAU_USDT	+0.0006%	4h	4,375.1	−0.084%	$266.3M	$409.6M	100x	as long as short
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.173%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.647%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.4	−0.054%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,374.6	−0.095%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.6	+0.705%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.1	−0.083%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.1	−0.175%	$294.6M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,370.7	−0.184%	$14.7M	$57.4M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	−0.079%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0069%	8h	4,374.7	−0.092%	$19K	$5K	5x	as long as short
Lighter XAUshort	+0.0072%	1h	4,373.9	−0.111%	$20.8M	$43.3M	25x
Lighter RH XAU	+0.0080%	1h	4,376.4	−0.054%	$20.3M	$40.9M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,373.5	−0.119%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,371.1	−0.175%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.138%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	−0.127%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0104%	1h	4,374	−0.108%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0120%	1h	4,370.3	−0.193%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	−0.053%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0172%	8h	4,376.1	−0.061%	$164.4M	$284.8M	100x	as long as short
Bybit XAUUSDT	+0.0176%	4h	4,375.5	−0.074%	$83.4M	$144.6M	150x	as long as short
Bullet GOLD-USD	+0.0188%	1h	4,374.7	−0.094%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0208%	1h	4,372.6	−0.140%	$236K	$655K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,372	−0.154%	$596K	$146K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	−0.090%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,374.6	−0.095%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0510%	4h	4,377	−0.039%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0559%	4h	4,382	+0.073%	$2.9M	$3.8M	75x	as long as short