Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.033%

Price spread now: Kalshi against Aevo+0.077%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.077%, 7d avg −0.076%

Together, before fees−0.421%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.152% dearer against Aevo than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.076%): +$15 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 31 days. At the pace of the last 7 days (−0.231% in total) that is about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XAU-PERP	4,322.5	0.0104	pay 0.0013% / 1h	49m 08s	$160K	$87	10x
Short	Kalshi KXGOLDPERP	4,325.8	0.0088	get 0.0263% / 24h	6h 49m	$3.8M	$44.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.077%Rate

Funding earned: −$3.45
Price spread: +0.077% → −0.076%: $15.22
Slippage, 4 orders: −$17.93
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$32.16
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Aevo: live order book, 55 min ago; Kalshi: 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 Aevo live order book, 55 min ago	5.71 bp	15.3 bp −$15	28.5 bp −$285	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	0.12 bp	6.8 bp −$7	7.2 bp −$72	11.0 bp −$1,102	doesn't fit

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	−0.0076%	1h	4,316.4	−0.142%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.6	+0.118%	$92K	$7.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.4	−0.072%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0027%	4h	4,324	+0.034%	$76.9M	$152.9M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.646%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.1	+0.037%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,321.6	−0.020%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.5	+0.764%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.4	−0.071%	$291.6M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319	−0.081%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0061%	4h	4,324.7	+0.051%	$72.7M	$272.7M	20x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,320.3	−0.051%	$32K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,323.2	+0.018%	$2K	$14K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,322.5	−0.001%	$20.3M	$28.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.5	−0.069%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERPshort	+0.0088%	24h	4,325.8	+0.077%	$3.8M	$44.4M	15x
Variational Omni XAU	+0.0092%	4h	4,321	−0.034%	$47.3M	$29.0M	—	as long as short
Phoenix GOLD	+0.0096%	1h	4,319.3	−0.074%	$47K	$79K	25x	as long as short
Gate XAU_USDT	+0.0098%	4h	4,323.6	+0.027%	$279.3M	$410.6M	100x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,323.1	+0.015%	$364.7M	$325.3M	1000x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,323.2	+0.017%	$425.4M	$2.14B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.9	−0.060%	$1.4M	$1.2M	10x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,323.9	+0.033%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,318.5	−0.093%	$272K	$208K	50x	as long as short
Aevo XAU-PERPlong	+0.0104%	1h	4,322.5	long leg	$160K	$87	10x
edgeX XAUUSDC	+0.0106%	4h	4,317.6	−0.114%	$30.0M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0136%	1h	4,324.6	+0.050%	$20.0M	$38.7M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0144%	1h	4,321.7	−0.018%	$163K	$865K	25x	as long as short
Extended XAU-USD	+0.0160%	1h	4,318.9	−0.083%	$13.1M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,323.4	+0.020%	$70.2M	$119.1M	100x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,323.3	+0.019%	$59K	$80K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,322.5	0.000%	$4.3M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,320.1	−0.055%	$577K	$136K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0288%	8h	4,323.3	+0.019%	$173.4M	$300.5M	100x	as long as short
BloFin XAU-USDT	+0.0340%	4h	4,323.1	+0.014%	$16.4M	$4.6M	100x	as long as short
HTX XAU-USDT	+0.0368%	4h	4,329.3	+0.157%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDT	+0.0380%	4h	4,326.8	+0.101%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0308%	1h	4,323.4	+0.020%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,323.5	+0.024%	$4.4M	$13.3M	25x	as long as short