Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.029%

Price spread now: Kalshi against Aster−0.015%7-day average −0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Aster Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 7 days−0.102%−$10 · spread now −0.015%, 7d avg −0.107%

Together, before fees−0.272%+ Points / potential airdropAster: Stage 5 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.092% dearer against Aster than usual: you sell high and buy low (spread −0.015% now, against its 7-day average of −0.107%): +$9 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 26 days. At the pace of the last 7 days (−0.170% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XAUUSD1	4,324.6	0.0081	pay 0.0040% / 4h	1h 48m	$72.4M	$311.2M	20x
Short	Kalshi KXGOLDPERP	4,324	0.0069	get 0.0207% / 24h	7h 48m	$3.8M	$43.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aster. 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 AsterbpFee KalshibpOrdersPrice spread, now −0.015%Rate

Funding earned: −$2.46
Price spread: −0.015% → −0.107%: $9.23
Slippage, 4 orders: −$2.67
Fee Aster: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$13.9
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Aster: live order book, 5 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 Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.6 bp −$46	15.6 bp −$1,556	doesn't fit
Sell Kalshi live order book, 5 min ago	0.23 bp	6.3 bp −$6	6.8 bp −$68	10.7 bp −$1,072	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	−0.0073%	1h	4,315.5	−0.211%	$25K	$14K	20x	as long as short
Hotstuff GOLD-PERP	−0.0008%	1h	4,318.9	−0.132%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326	+0.033%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.5	−0.143%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0010%	4h	4,323.8	−0.020%	$77.4M	$157.0M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,319.9	−0.109%	$13.2M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.596%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.3	−0.031%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,320.8	−0.089%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.7	+0.695%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.2	−0.102%	$291.5M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,317	−0.178%	$15.0M	$55.8M	25x	as long as short
Lighter XAU	+0.0064%	1h	4,321.4	−0.074%	$20.3M	$30.2M	25x	as long as short
Kalshi KXGOLDPERPshort	+0.0069%	24h	4,324	−0.015%	$3.8M	$43.1M	15x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.9	−0.109%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,322.8	−0.043%	$19K	$5K	5x	as long as short
Aster XAUUSD1long	+0.0081%	4h	4,324.6	long leg	$72.4M	$311.2M	20x
GRVT XAU_USDT_Perp	+0.0082%	4h	4,321.1	−0.081%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0084%	4h	4,326.2	+0.037%	$278.7M	$409.8M	100x	as long as short
Variational Omni XAU	+0.0093%	4h	4,320.2	−0.102%	$47.3M	$29.3M	—	as long as short
Phoenix GOLD	+0.0100%	1h	4,320.2	−0.102%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.2	−0.127%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,324	−0.014%	$362.2M	$326.5M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.8	−0.112%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,322.5	−0.050%	$415.2M	$2.14B	100x	as long as short
Lighter RH XAU	+0.0104%	1h	4,324.6	−0.001%	$19.8M	$38.4M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.7	−0.068%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,319.3	−0.124%	$30.1M	$60.8M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0154%	1h	4,319.6	−0.116%	$588K	$131K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,324.6	0.000%	$4.2M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,322.2	−0.056%	$59K	$81K	10x	as long as short
HTX XAU-USDT	+0.0217%	4h	4,324.8	+0.005%	$2.8M	$5.0M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,322.6	−0.047%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,323.3	−0.032%	$68.0M	$119.3M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0316%	8h	4,323.4	−0.028%	$170.3M	$296.8M	100x	as long as short
BloFin XAU-USDT	+0.0342%	4h	4,322.6	−0.047%	$16.2M	$4.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0352%	1h	4,322.1	−0.059%	$193K	$830K	25x	as long as short
Phemex XAUUSDT	+0.0397%	4h	4,324.3	−0.007%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,322.2	−0.056%	$252K	—	111x	as long as short