Funding you earn now, next payment 06:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.046%
Price spread now: Kalshi against Bullet−0.054%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.054% cheaper against Bullet than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet GOLD-USD | 4,333 | 0.0160 | pay 0.0020% / 1h | 26m 29s | $59K | $82K | 10x |
| Short | Kalshi KXGOLDPERP | 4,330.7 | 0.0058 | get 0.0173% / 24h | 8h 26m | $4.0M | $40.9M | 15x |
Bullet GOLD-USD
Kalshi KXGOLDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Bullet. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21.52
- Price spread: −0.054% → 0.000%
- −$5.4
- Slippage, 4 orders
- no order book: not counted
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$44.92
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Bullet: no order-book sample; Kalshi: live order book, 3 min ago. Net counts fees only.
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 Bullet no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 3 min ago | 0.12 bp | 7.2 bp −$7 | 7.4 bp −$74 | 12.1 bp −$1,211 | doesn't fit |
Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff GOLD-PERP | −0.0056% | 1h | 4,328.7 | −0.100% | $32K | — | 25x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,335.2 | +0.050% | $92K | $8.4M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,326.2 | −0.157% | $271K | — | 250x | as long as short |
| Bluefin GOLD-PERP | +0.0005% | 1h | 4,323.2 | −0.227% | $25K | $14K | 20x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,328.4 | −0.108% | $13.2M | $37.1M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.401% | $619 | $54 | 52x | as long as short |
| Lighter XAU | +0.0040% | 1h | 4,331.1 | −0.046% | $20.6M | $31.0M | 25x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,329.8 | −0.075% | $3.8M | $4.6M | 40x | as long as short |
| QFEX GOLD-USD | +0.0044% | 1h | 4,331.2 | −0.043% | $5.4M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,365.5 | +0.749% | — | $1.0M | 25x | as long as short |
Hotstuff GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Bluefin GOLD-PERP
Extended XAU-USD
Injective XAU/USDC PERP
Lighter XAU
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERPShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,329.6 | −0.079% | $292.5M | $50.7M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,329.7 | −0.077% | $15.0M | $56.7M | 25x | as long as short |
| Bybit XAUUSDT | +0.0051% | 4h | 4,333.8 | +0.018% | $78.7M | $155.0M | 150x | as long as short |
| RISEx XAU/USDC | +0.0054% | 1h | 4,333.2 | +0.004% | $3.7M | $12.2M | 25x | as long as short |
| Kalshi KXGOLDPERPshort | +0.0058% | 24h | 4,330.7 | −0.054% | $4.0M | $40.9M | 15x | |
| Gate XAU_USDT | +0.0066% | 4h | 4,334.6 | +0.036% | $273.1M | $406.8M | 100x | as long as short |
| Paradex XAU-USD-PERP | +0.0072% | 8h | 4,332.5 | −0.012% | $19K | $5K | 5x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,326.7 | −0.146% | $2.1M | $4.7M | 25x | as long as short |
| Lighter RH XAU | +0.0088% | 1h | 4,333.5 | +0.010% | $19.9M | $38.7M | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,328.5 | −0.105% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,328.1 | −0.114% | $275K | $204K | 50x | as long as short |
| Aster XAUUSD1 | +0.0109% | 4h | 4,334 | +0.023% | $71.6M | $332.2M | 20x | as long as short |
| Variational Omni XAU | +0.0111% | 4h | 4,333.1 | +0.002% | $48.3M | $27.5M | — | as long as short |
| Aevo XAU-PERP | +0.0112% | 1h | 4,330.3 | −0.062% | $160K | $87 | 10x | as long as short |
| MEXC XAU_USDT | +0.0118% | 4h | 4,331.8 | −0.028% | $363.5M | $324.1M | 1000x | as long as short |
| Binance XAUUSDT | +0.0120% | 4h | 4,333.2 | +0.003% | $414.2M | $2.15B | 100x | as long as short |
| GRVT XAU_USDT_Perp | +0.0122% | 4h | 4,329.6 | −0.080% | $1.4M | $2.9M | 25x | as long as short |
| Phoenix GOLD | +0.0127% | 1h | 4,327.2 | −0.135% | $47K | $77K | 25x | as long as short |
| edgeX XAUUSDC | +0.0130% | 4h | 4,331.5 | −0.035% | $30.1M | $59.0M | 50x | as long as short |
| Bullet GOLD-USDlong | +0.0160% | 1h | 4,333 | long leg | $59K | $82K | 10x | |
| Polymarket Perps GOLD-USD | +0.0171% | 1h | 4,333 | −0.001% | $4.2M | $2.0M | 20x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0247% | 1h | 4,327.8 | −0.121% | $589K | $130K | 25x | as long as short |
| HTX XAU-USDT | +0.0258% | 4h | 4,332.4 | −0.015% | $2.8M | $4.8M | 75x | as long as short |
| Bitget XAUUSDT | +0.0278% | 4h | 4,333.2 | +0.003% | $73.5M | $113.7M | 100x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0305% | 1h | 4,330 | −0.070% | $200K | $824K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0338% | 8h | 4,333.7 | +0.015% | $170.2M | $292.2M | 100x | as long as short |
| BloFin XAU-USDT | +0.0362% | 4h | 4,330.9 | −0.049% | $16.1M | $4.4M | 100x | as long as short |
| Phemex XAUUSDT | +0.0398% | 4h | 4,336.2 | +0.074% | $2.2M | $960K | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0450% / S −0.0288% | 1h | 4,330.7 | −0.055% | $250K | — | 111x | as long as short |
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
Bybit XAUUSDT
RISEx XAU/USDC
Gate XAU_USDT
Paradex XAU-USD-PERP
Coinbase International GOLD-PERP-INTX
Lighter RH XAU
Pacifica XAU
ApeX Omni XAUUSDT
Aster XAUUSD1
Variational Omni XAU
Aevo XAU-PERP
MEXC XAU_USDT
Binance XAUUSDT
GRVT XAU_USDT_Perp
Phoenix GOLD
edgeX XAUUSDC
Polymarket Perps GOLD-USD
Kraken Futures PF_XAUUSD
HTX XAU-USDT
Bitget XAUUSDT
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
BloFin XAU-USDT
Phemex XAUUSDT
GMX GOLD/USD [ETH-USDC]