Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.066%

Price spread now: Kalshi against Bitget−0.039%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Bitget Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 7 days−0.073%−$7 · spread now −0.039%, 7d avg −0.111%

Together, before fees−0.333%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.072% dearer against Bitget than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.111%): +$7 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,346.1	0.0216	pay 0.0108% / 4h	1h 04m	$70.2M	$109.4M	100x
Short	Kalshi KXGOLDPERP	4,344.4	0.0041	get 0.0122% / 24h	11h 04m	$4.1M	$37.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bitget. 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 BitgetbpFee KalshibpOrdersPrice spread, now −0.039%Rate

Funding earned: −$36.8
Price spread: −0.039% → −0.111%: $7.19
Slippage, 4 orders: −$3.63
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$55.24
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Kalshi: live order book, 4 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 Bitget live order book, 4 min ago	0.01 bp	6.3 bp −$6	7.7 bp −$77	11.5 bp −$1,147	doesn't fit
Sell Kalshi live order book, 4 min ago	0.12 bp	5.7 bp −$6	6.6 bp −$66	8.0 bp −$800	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
Gate XAU_USDT	0.0000%	4h	4,348.2	+0.048%	$265.3M	$417.4M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352	+0.135%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.5	−0.060%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.1	+0.024%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.1	−0.093%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.100%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0040%	4h	4,346.5	+0.009%	$70.8M	$334.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.4	+0.053%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERPshort	+0.0041%	24h	4,344.4	−0.039%	$4.1M	$37.1M	15x
Vest GC-PERP	+0.0046%	1h	4,380.3	+0.787%	—	$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
QFEX GOLD-USD	+0.0046%	1h	4,347.3	+0.028%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,345.1	−0.023%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343	−0.071%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.7	−0.055%	$293.7M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344	−0.048%	$15.1M	$56.8M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,350.1	+0.092%	$1.4M	$2.9M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,347.2	+0.026%	$20.1M	$39.9M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	−0.001%	$48.5M	$27.7M	—	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,344	−0.048%	$33K	—	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,346.2	+0.002%	$370.8M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0074%	4h	4,345.8	−0.006%	$410.3M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,347.6	+0.035%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0085%	4h	4,343.7	−0.055%	$30.2M	$58.5M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,346.8	+0.016%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344	−0.048%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	+0.021%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,346.8	+0.016%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	−0.002%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0187%	1h	4,345.3	−0.018%	$254K	$752K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,347.4	+0.031%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0201%	4h	4,349.9	+0.088%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0208%	4h	4,347.3	+0.027%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDTlong	+0.0216%	4h	4,346.1	long leg	$70.2M	$109.4M	100x
OKX XAU-USDT-SWAP	+0.0260%	8h	4,347.6	+0.035%	$165.3M	$283.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,344.7	−0.032%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,347.2	+0.025%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0403%	1h	4,342.3	−0.087%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0405% / S −0.0220%	1h	4,347.4	+0.031%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0590%	4h	4,352.4	+0.146%	$2.9M	$4.2M	75x	as long as short