Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.021%

Price spread now: StandX against SunX−0.061%48s7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1501.498% of the position

Long on SunX Short on StandX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 3 days (all we have)−0.058%−$6 · spread now −0.061%, 7d avg −0.086%

Together, before fees+0.062%+ Points / potential airdropStandX: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and StandX is 0.025% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.086%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,365.1	0	get 0.0000% / 4h	3h 23m	$93K	$10.2M	20x
Short	StandX XAU-USD	4,362.4	0.0040	get 0.0005% / 1h	23m 25s	$3.8M	$4.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

StandX 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 StandXbpOrdersPrice spread, now −0.061%Rate

Funding earned: $8.4
Price spread: −0.061% → −0.086%: $2.45
Slippage, 4 orders: −$133.85
Fee SunX: 4 bp × 2 orders: −$8
Fee StandX: 4 bp × 2 orders: −$8
Net: −$138.99
Costs to cover: 1.498%
Break-even: 122.8 days

Slippage from SunX: live order book, 6 min ago; StandX: live order book, 1 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, 6 min ago	61.72 bp	65.7 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell StandX live order book, 1 min ago	1.72 bp	8.0 bp −$8	9.0 bp −$90	9.7 bp −$971	10.5 bp −$5,231

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
Aster XAUUSD1	0.0000%	4h	4,358.7	−0.146%	$71.0M	$200.3M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,359.6	−0.126%	$266.5M	$416.4M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,358.2	−0.158%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDTlong	0.0000%	4h	4,365.1	long leg	$93K	$10.2M	20x
Variational Omni XAU	0.0000%	4h	4,360.4	−0.107%	$47.8M	$28.1M	—	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,356.4	−0.198%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0022%	4h	4,355.1	−0.228%	$30.3M	$60.4M	50x	as long as short
MEXC XAU_USDT	+0.0022%	4h	4,359.8	−0.122%	$372.9M	$328.1M	1000x	as long as short
Binance XAUUSDT	+0.0023%	4h	4,359	−0.139%	$411.6M	$2.15B	100x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.336%	$619	$54	52x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USDshort	+0.0040%	1h	4,362.4	−0.061%	$3.8M	$4.7M	40x
QFEX GOLD-USD	+0.0045%	1h	4,356.7	−0.192%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,393.8	+0.658%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,358.3	−0.155%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,356.8	−0.190%	$293.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354	−0.254%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,358.5	−0.151%	$48K	$64K	25x	as long as short
Bitget XAUUSDT	+0.0058%	4h	4,359.8	−0.122%	$69.6M	$113.9M	100x	as long as short
Lighter XAU	+0.0072%	1h	4,357	−0.185%	$20.6M	$44.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,358.3	−0.155%	$19K	$5K	5x	as long as short
BloFin XAU-USDT	+0.0082%	4h	4,363.5	−0.037%	$15.5M	$4.5M	100x	as long as short
Extended XAU-USD	+0.0088%	1h	4,354.5	−0.243%	$13.5M	$43.8M	25x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,359.7	−0.122%	$161K	$87	10x	as long as short
Lighter RH XAU	+0.0096%	1h	4,359.2	−0.134%	$20.2M	$41.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,355.3	−0.224%	$33K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,358.3	−0.155%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,355	−0.231%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.8	−0.167%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,353.7	−0.261%	$26K	$22K	20x	as long as short
Bybit XAUUSDT	+0.0102%	4h	4,360.1	−0.115%	$83.3M	$144.3M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0121%	1h	4,358.6	−0.148%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,361.1	−0.091%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0199%	8h	4,360.1	−0.114%	$163.8M	$289.4M	100x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,360.3	−0.109%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,357.5	−0.173%	$594K	$151K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,359.2	−0.135%	$235K	$656K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,360.8	−0.099%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0455%	4h	4,362.5	−0.060%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0586%	4h	4,365.2	+0.004%	$2.9M	$3.9M	75x	as long as short