Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h +0.013%

Price spread now: Orderly against Kraken Futures−0.033%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.033% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUTUSD	4,340.1	0.0138	pay 0.0017% / 1h	30m 12s	$5.7M	$4.4M	50x
Short	Orderly PERP_XAUT_USDC_mythos	4,338.7	0.0100	get 0.0050% / 4h	3h 30m	$267	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. 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 Kraken FuturesbpFee OrderlybpOrdersPrice spread, now −0.033%Rate

Funding earned: −$7.97
Price spread: −0.033% → 0.000%: −$3.34
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.3
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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 Kraken Futures live order book, 4 min ago	0.23 bp	5.2 bp −$5	7.1 bp −$71	16.6 bp −$1,664	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0340%	1h	4,338.5	−0.038%	$56K	$29K	20x	as long as short
Bitget XAUTUSDT	−0.0044%	4h	4,337.6	−0.060%	$25.8M	$15.4M	75x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,339.8	−0.008%	$130.4M	$8.2M	100x	as long as short
Variational Omni XAUT	+0.0028%	4h	4,338.1	−0.047%	$33.0M	$3.5M	—	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	+0.222%	$8K	$149K	30x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,337.2	−0.068%	$10.1M	$2.0M	25x	as long as short
Binance XAUTUSDT	+0.0055%	4h	4,338.4	−0.040%	$35.2M	$45.3M	75x	as long as short
Extended XAUT-USD	+0.0056%	1h	4,337.1	−0.070%	$272K	$215K	25x	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,338	−0.050%	$4.2M	$912K	10x	as long as short
Bybit XAUTUSDT	+0.0100%	4h	4,338.1	−0.047%	$120.1M	$27.9M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XAUT_USDT	+0.0100%	4h	4,338.5	−0.038%	$391.8M	$271.1M	1000x	as long as short
KuCoin XAUTUSDTM	+0.0100%	4h	4,339.4	−0.016%	$11.5M	$2.9M	75x	as long as short
BingX XAUT-USDT	+0.0100%	4h	4,338.7	−0.033%	—	$17.7M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,338.3	−0.043%	$308	$107K	10x	as long as short
Orderly PERP_XAUT_USDC_mythosshort	+0.0100%	4h	4,338.7	−0.033%	$267	$17K	10x
Derive XAUT-PERP	+0.0100%	1h	4,338.7	−0.033%	$1.8M	$304K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,345	+0.111%	$3K	$3.3M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,337.8	−0.054%	$1.8M	$227K	75x	as long as short
Kraken Futures PF_XAUTUSDlong	+0.0138%	1h	4,340.1	long leg	$5.7M	$4.4M	50x
BloFin XAUT-USDT	+0.0340%	4h	4,338.7	−0.033%	$2.3M	$1.6M	75x	as long as short