Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0230%/8h= +25.2% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against Gate+0.003%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.003%, 7d avg −0.010%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: +$7 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 0.145% in total (about 7.6% 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	Gate XAUT_USDT	4,325.5	0	get 0.0000% / 8h	1h 58m	$129.9M	$8.3M	100x
Short	Kraken Futures PF_XAUTUSD	4,325.6	0.0230	get 0.0029% / 1h	58m 31s	$5.7M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.003%Rate

Funding earned: $48.29
Price spread: +0.003% → −0.010%: $1.25
Slippage, 4 orders: −$7.13
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $17.41
Costs to cover: 0.321%
Break-even: 4.5 days

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	0.12 bp	8.8 bp −$9	11.1 bp −$111	21.2 bp −$2,124	50.6 bp −$25.3K
Sell Kraken Futures live order book, 5 min ago	1.27 bp	7.1 bp −$7	8.5 bp −$85	14.6 bp −$1,459	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
Aftermath Perps XAUTUSD	−0.0258%	1h	4,328.1	+0.061%	$56K	$29K	20x	as long as short
Bitget XAUTUSDT	−0.0038%	4h	4,323.7	−0.041%	$25.5M	$16.8M	75x	as long as short
MEXC XAUT_USDT	−0.0030%	4h	4,323.5	−0.046%	$358.0M	$274.6M	1000x	as long as short
Bybit XAUTUSDT	−0.0028%	4h	4,323.4	−0.049%	$118.3M	$29.9M	75x	as long as short
Gate XAUT_USDTlong	0.0000%	8h	4,325.5	long leg	$129.9M	$8.3M	100x
Variational Omni XAUT	+0.0003%	4h	4,324.7	−0.017%	$33.0M	$3.4M	—	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	+0.562%	$8K	$149K	30x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,323.4	−0.049%	$10.1M	$2.0M	25x	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,323.8	−0.040%	$4.2M	$916K	10x	as long as short
Binance XAUTUSDT	+0.0100%	4h	4,324.5	−0.024%	$35.3M	$46.8M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XAUTUSDTM	+0.0100%	4h	4,325	−0.011%	$11.7M	$3.0M	75x	as long as short
BingX XAUT-USDT	+0.0100%	4h	4,323.7	−0.041%	—	$18.9M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,325.7	+0.005%	$826	$110K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,324.7	−0.018%	$266	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,325.1	−0.010%	$1.8M	$363K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,328.9	+0.079%	$2K	$3.2M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,323.2	−0.052%	$1.8M	$247K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,323.4	−0.049%	$267K	$214K	25x	as long as short
BloFin XAUT-USDT	+0.0210%	4h	4,323.6	−0.044%	$2.3M	$1.6M	75x	as long as short
Kraken Futures PF_XAUTUSDshort	+0.0230%	1h	4,325.6	+0.003%	$5.7M	$4.8M	50x