Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0197%/8h= −21.6% APRpaid last 24h −0.020%

Price spread now: Kraken Futures against BingX+0.037%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now +0.037%, 7d avg +0.018%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.030% in total (about -1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XAUT-USDT	4,341.1	0.0100	pay 0.0050% / 4h	2h 23m	—	$17.6M	—
Short	Kraken Futures PF_XAUTUSD	4,342.7	−0.0097	pay 0.0012% / 1h	23m 23s	$5.3M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.037%Rate

Funding earned: −$41.41
Price spread: +0.037% → +0.018%: $1.97
Slippage, 4 orders: −$5.85
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$65.29
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Kraken Futures: live order book, 5 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 BingX live order book, 10 min ago	0.13 bp	5.3 bp −$5	6.1 bp −$61	12.8 bp −$1,284	62.5 bp −$31.2K
Sell Kraken Futures live order book, 5 min ago	0.92 bp	7.7 bp −$8	10.0 bp −$100	22.4 bp −$2,235	doesn't fit

XAUT on 20 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
Bitget XAUTUSDT	−0.0222%	4h	4,339.5	−0.037%	$26.4M	$15.1M	75x	as long as short
Aftermath Perps XAUTUSD	−0.0200%	1h	4,341.5	+0.010%	$56K	$33K	20x	as long as short
Kraken Futures PF_XAUTUSDshort	−0.0097%	1h	4,342.7	+0.037%	$5.3M	$3.4M	50x
Injective XAUT/USDC PERP	−0.0056%	1h	4,343.8	+0.063%	$8K	$76K	30x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,342.7	+0.038%	$131.9M	$8.9M	100x	as long as short
Variational Omni XAUT	+0.0035%	4h	4,341	−0.002%	$33.1M	$3.3M	—	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,343.1	+0.047%	$10.1M	$2.1M	25x	as long as short
Extended XAUT-USD	+0.0064%	1h	4,341.2	+0.003%	$272K	$217K	25x	as long as short
Binance XAUTUSDT	+0.0066%	4h	4,341.7	+0.016%	$35.2M	$45.5M	75x	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,341.2	+0.002%	$4.2M	$915K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUTUSDT	+0.0100%	4h	4,341.2	+0.003%	$120.5M	$27.3M	75x	as long as short
MEXC XAUT_USDT	+0.0100%	4h	4,341.2	+0.003%	$349.0M	$276.2M	1000x	as long as short
KuCoin XAUTUSDTM	+0.0100%	4h	4,342.6	+0.036%	$11.5M	$3.1M	75x	as long as short
BingX XAUT-USDTlong	+0.0100%	4h	4,341.1	long leg	—	$17.6M	—
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,341.1	+0.001%	$521	$115K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,341.3	+0.005%	$267	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,342.3	+0.028%	$1.8M	$175K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,347.5	+0.148%	$2K	$3.8M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,339	−0.048%	$1.8M	$230K	75x	as long as short
BloFin XAUT-USDT	+0.0340%	4h	4,341.7	+0.015%	$2.4M	$1.7M	75x	as long as short