Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.018%

Price spread now: Kalshi against Extended+0.055%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 7 days−0.129%−$13 · spread now +0.055%, 7d avg −0.013%

Together, before fees−0.236%+ Points / potential airdropExtended: Active · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Kalshi is 0.068% dearer against Extended than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.013%. Mind the row above: over the last 7 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XAU-USD	4,343.2	0.0032	pay 0.0004% / 1h	13m 11s	$13.2M	$38.3M	25x
Short	Kalshi KXGOLDPERP	4,345.6	0.0048	get 0.0144% / 24h	10h 13m	$4.2M	$37.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.055%Rate

Funding earned: $3.39
Price spread: +0.055% → −0.013%: $6.81
Slippage, 4 orders: −$2.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$7.37
Costs to cover: 0.176%
Break-even: 22.2 days

Slippage from Extended: live order book, 6 min ago; Kalshi: live order book, 6 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 Extended live order book, 6 min ago	0.12 bp	2.6 bp −$3	3.3 bp −$33	5.7 bp −$572	23.4 bp −$11.7K
Sell Kalshi live order book, 6 min ago	0.23 bp	6.3 bp −$6	7.4 bp −$74	9.9 bp −$991	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
RISEx XAU/USDC	0.0000%	1h	4,346.5	+0.076%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,348.4	+0.120%	$265.3M	$417.1M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.3	+0.186%	$92K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.3	+0.002%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,345.5	+0.053%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USDlong	+0.0032%	1h	4,343.2	long leg	$13.2M	$38.3M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.166%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,347.8	+0.106%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.117%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.3	+0.071%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380	+0.847%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343	−0.005%	$2.0M	$4.8M	25x	as long as short
Kalshi KXGOLDPERPshort	+0.0048%	24h	4,345.6	+0.055%	$4.2M	$37.4M	15x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344	+0.018%	$293.8M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.8	−0.009%	$15.1M	$56.9M	25x	as long as short
Aster XAUUSD1	+0.0059%	4h	4,347.7	+0.103%	$71.2M	$333.3M	20x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,344.5	+0.029%	$33K	—	25x	as long as short
Variational Omni XAU	+0.0075%	4h	4,349.4	+0.143%	$48.4M	$28.0M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,346.9	+0.084%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,346.5	+0.075%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0088%	4h	4,347	+0.087%	$372.4M	$319.4M	1000x	as long as short
Binance XAUUSDT	+0.0089%	4h	4,347.1	+0.088%	$413.4M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0099%	4h	4,343.2	−0.001%	$30.2M	$58.3M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.6	+0.009%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	+0.001%	$274K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,343.3	+0.003%	$25K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.2	+0.069%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,344.7	+0.034%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0160%	1h	4,347.1	+0.089%	$4.3M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,345.1	+0.043%	$206K	$824K	25x	as long as short
Bullet GOLD-USD	+0.0185%	1h	4,347.2	+0.091%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,343.7	+0.012%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0228%	4h	4,350	+0.157%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,347.2	+0.091%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,348.3	+0.116%	$85.1M	$145.4M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0296%	8h	4,348.4	+0.119%	$165.3M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0329%	4h	4,346.8	+0.082%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0418% / S −0.0238%	1h	4,347.2	+0.091%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0618%	4h	4,351.3	+0.186%	$2.8M	$4.6M	75x	as long as short