Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0227%/8h= +24.9% APRpaid last 24h +0.046%

Price spread now: Kraken Futures against Binance−0.054%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$19 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.054%, 7d avg −0.067%

Together, before fees+0.227%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.067%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,306.8	0.0101	pay 0.0050% / 4h	3h 40m	$433.7M	$2.22B	100x
Short	Kraken Futures PF_XAUUSD	4,304.5	0.0328	get 0.0041% / 1h	40m 48s	$573K	$138K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.054%Rate

Funding earned: $47.74
Price spread: −0.054% → −0.067%: $1.32
Slippage, 4 orders: −$6.75
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $22.31
Costs to cover: 0.268%
Break-even: 3.7 days

Slippage from Binance: live order book, 3 min ago; Kraken Futures: live order book, 57 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, 3 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.2 bp −$615	doesn't fit
Sell Kraken Futures live order book, 57 min ago	2.53 bp	8.3 bp −$8	17.4 bp −$174	doesn't fit	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
SunX XAU-USDT	0.0000%	4h	4,310.5	+0.087%	$92K	$6.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,303.6	−0.075%	$268K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,308.7	+0.044%	$32K	—	25x	as long as short
GRVT XAU_USDT_Perp	+0.0018%	4h	4,306	−0.019%	$1.4M	$3.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.013%	$619	$54	52x	as long as short
Bybit XAUUSDT	+0.0037%	4h	4,308	+0.027%	$77.1M	$157.2M	150x	as long as short
Extended XAU-USD	+0.0040%	1h	4,303.6	−0.074%	$13.1M	$36.3M	25x	as long as short
Vest GC-PERP	+0.0046%	1h	4,338.2	+0.729%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,306	−0.019%	$6.6M	$3.2M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.9	−0.067%	$290.9M	$54.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps GOLD-USD	+0.0050%	1h	4,303.7	−0.072%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.4	−0.080%	$15.0M	$55.7M	25x	as long as short
Aster XAUUSD1	+0.0053%	4h	4,307.2	+0.010%	$73.3M	$271.8M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,302.9	−0.090%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0060%	8h	4,306.1	−0.016%	$2K	$13K	5x	as long as short
StandX XAU-USD	+0.0074%	1h	4,308.2	+0.033%	$3.8M	$4.5M	40x	as long as short
Lighter XAU	+0.0080%	1h	4,306.1	−0.016%	$20.3M	$28.7M	25x	as long as short
Variational Omni XAU	+0.0087%	4h	4,306.3	−0.013%	$46.6M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,303.2	−0.084%	$42K	$86K	25x	as long as short
Lighter RH XAU	+0.0096%	1h	4,309	+0.050%	$19.8M	$39.8M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,303.1	−0.085%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,305.9	−0.021%	$276K	$218K	50x	as long as short
Binance XAUUSDTlong	+0.0101%	4h	4,306.8	long leg	$433.7M	$2.22B	100x
Aevo XAU-PERP	+0.0104%	1h	4,304.9	−0.045%	$159K	$87	10x	as long as short
MEXC XAU_USDT	+0.0106%	4h	4,307.8	+0.023%	$361.9M	$336.1M	1000x	as long as short
Kalshi KXGOLDPERP	+0.0108%	24h	4,308.7	+0.044%	$3.7M	$46.3M	15x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,309.9	+0.073%	$30.0M	$62.1M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,307.1	+0.008%	$4.4M	$13.1M	25x	as long as short
Gate XAU_USDT	+0.0128%	4h	4,309.6	+0.065%	$295.3M	$425.1M	100x	as long as short
Bitget XAUUSDT	+0.0188%	4h	4,307.5	+0.015%	$70.2M	$124.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0191%	1h	4,305.8	−0.023%	$134K	$882K	25x	as long as short
Bullet GOLD-USD	+0.0203%	1h	4,307	+0.004%	$58K	$81K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,308.2	+0.033%	$170.7M	$328.8M	100x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0328%	1h	4,304.5	−0.054%	$573K	$138K	25x
BloFin XAU-USDT	+0.0369%	4h	4,307.5	+0.017%	$16.2M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0314%	1h	4,306.4	−0.009%	$255K	—	111x	as long as short
Phemex XAUUSDT	+0.0721%	4h	4,310.8	+0.093%	$2.2M	$951K	100x	as long as short
HTX XAU-USDT	+0.1039%	4h	4,313.4	+0.154%	$3.2M	$6.2M	75x	as long as short
Bluefin GOLD-PERP	+0.5956%	1h	4,302.9	−0.090%	$25K	$1K	20x	as long as short