Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0271%/8h= −29.7% APRpaid last 24h −0.107%

Price spread now: Kalshi against BloFin+0.010%7-day average −0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on BloFin Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.540%−$54 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.010%, 7d avg −0.100%

Together, before fees−0.676%−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.110% dearer against BloFin than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.100%): +$11 on $10k if it goes back. Holding the pair costs −$8 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	BloFin XAU-USDT	4,323.3	0.0339	pay 0.0169% / 4h	1h 52m	$16.1M	$4.4M	100x
Short	Kalshi KXGOLDPERP	4,323.7	0.0068	get 0.0204% / 24h	7h 52m	$3.9M	$42.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against BloFin. 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 BloFinbpFee KalshibpOrdersPrice spread, now +0.010%Rate

Funding earned: −$56.88
Price spread: +0.010% → −0.100%: $11.04
Slippage, 4 orders: −$2.74
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$70.58
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Kalshi: live order book, 1 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 BloFin live order book, 6 min ago	0.02 bp	6.0 bp −$6	6.1 bp −$61	7.2 bp −$718	doesn't fit
Sell Kalshi live order book, 1 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	−0.0032%	1h	4,316.5	−0.156%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,327.4	+0.096%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,319.3	−0.091%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0007%	4h	4,324.3	+0.024%	$77.9M	$157.0M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,319.4	−0.088%	$13.1M	$36.7M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,320	−0.075%	$32K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.628%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,322.8	−0.011%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,323	−0.006%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,355.3	+0.741%	—	$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	4,320.3	−0.068%	$291.4M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.3	−0.092%	$15.0M	$55.9M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,322.5	−0.018%	$20.3M	$30.1M	25x	as long as short
Kalshi KXGOLDPERPshort	+0.0068%	24h	4,323.7	+0.010%	$3.9M	$42.9M	15x
Paradex XAU-USD-PERP	+0.0072%	8h	4,323.1	−0.004%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,319.8	−0.080%	$2.1M	$4.9M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0076%	4h	4,323.4	+0.003%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,325.4	+0.050%	$275.6M	$406.2M	100x	as long as short
Aster XAUUSD1	+0.0080%	4h	4,325.2	+0.044%	$72.3M	$315.2M	20x	as long as short
Variational Omni XAU	+0.0089%	4h	4,326.3	+0.070%	$47.1M	$29.2M	—	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,323.5	+0.006%	$363.5M	$324.5M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,323.5	+0.006%	$413.5M	$2.13B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,324.8	+0.036%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.6	−0.084%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.3	−0.022%	$272K	$208K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,325.1	+0.043%	$19.8M	$38.3M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322.6	−0.015%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,321.6	−0.038%	$30.1M	$60.6M	50x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,320.3	−0.068%	$588K	$130K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,324.5	+0.029%	$4.2M	$12.8M	25x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,323.5	+0.005%	$58K	$81K	10x	as long as short
HTX XAU-USDT	+0.0210%	4h	4,326.1	+0.066%	$2.8M	$4.9M	75x	as long as short
Polymarket Perps GOLD-USD	+0.0212%	1h	4,323.2	−0.001%	$4.2M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0236%	4h	4,323.7	+0.011%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0259%	1h	4,322.9	−0.008%	$193K	$830K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0317%	8h	4,324	+0.017%	$170.1M	$296.6M	100x	as long as short
BloFin XAU-USDTlong	+0.0339%	4h	4,323.3	long leg	$16.1M	$4.4M	100x
Phemex XAUUSDT	+0.0407%	4h	4,327	+0.087%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,323.5	+0.005%	$252K	—	111x	as long as short