Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.049%

Price spread now: Kalshi against Binance−0.056%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Binance Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 2 days (all we have)−0.060%−$6 · spread now −0.056%, 7d avg −0.080%

Together, before fees−0.270%−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.024% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,365.3	0	get 0.0000% / 4h	44m 32s	$408.4M	$2.11B	100x
Short	Kalshi KXGOLDPERP	4,362.8	0	get 0.0000% / 24h	14h 44m	$4.0M	$35.2M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Binance. 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 BinancebpFee KalshibpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → −0.080%: $2.41
Slippage, 4 orders: −$2.9
Fee Binance: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$20.49
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Binance: live order book, 15 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 Binance live order book, 15 min ago	0.01 bp	5.0 bp −$5	5.2 bp −$52	7.3 bp −$731	doesn't fit
Sell Kalshi live order book, 5 min ago	0.12 bp	6.4 bp −$6	6.7 bp −$67	8.3 bp −$833	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	−0.0327%	1h	4,359.1	−0.141%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,364.9	−0.008%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,365.1	−0.003%	$71.5M	$228.4M	20x	as long as short
Binance XAUUSDTlong	0.0000%	4h	4,365.3	long leg	$408.4M	$2.11B	100x
Bybit XAUUSDT	0.0000%	4h	4,366.3	+0.023%	$82.6M	$141.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,364.2	−0.025%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,364.4	−0.020%	$268.0M	$406.9M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,363.4	−0.043%	$376.9M	$320.9M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,363.8	−0.034%	$66.9M	$111.0M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	+0.014%	$48.5M	$30.6M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,367.4	+0.049%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERPshort	0.0000%	24h	4,362.8	−0.056%	$4.0M	$35.2M	15x
SunX XAU-USDT	0.0000%	4h	4,368.3	+0.070%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,360.4	−0.111%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0007%	4h	4,361.8	−0.079%	$30.3M	$58.2M	50x	as long as short
Bullet GOLD-USD	+0.0021%	1h	4,364	−0.028%	$60K	$81K	10x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,362.9	−0.054%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,362.6	−0.060%	$20.9M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,365.1	−0.004%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,360.2	−0.115%	$13.0M	$46.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.340%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.4	+0.026%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,399.4	+0.782%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,360.2	−0.116%	$33K	—	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0048%	1h	4,362.1	−0.072%	$235K	$735K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,360.1	−0.118%	$293.5M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,363.2	−0.047%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.3	−0.068%	$14.5M	$56.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0072%	1h	4,363.6	−0.038%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,363.3	−0.044%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.4	−0.111%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,363.9	−0.031%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0133%	4h	4,367.4	+0.050%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364.6	−0.015%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,366.9	+0.038%	$158.0M	$271.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,361.1	−0.094%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,364.8	−0.010%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0306%	4h	4,366.6	+0.031%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,363.8	−0.034%	$252K	—	111x	as long as short