Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+3.2140%/8h= +3519.3% APRpaid last 24h +0.337%

Price spread now: Kalshi against Hotstuff+0.097%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$964 a day on $10k at the current rate, and Kalshi is 0.097% dearer against Hotstuff than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff GOLD-PERP	4,331.1	−3.2000	get 0.4000% / 1h	27m 36s	$32K	—	25x
Short	Kalshi KXGOLDPERP	4,335.3	0.0140	get 0.0420% / 24h	3h 27m	$3.5M	$51.2M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hotstuff. 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 HotstuffbpFee KalshibpOrdersPrice spread, now +0.097%Rate

Funding earned: $6,749.39
Price spread: +0.097% → 0.000%: $9.7
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $6,744.09
Costs to cover: 0.150%
Break-even: 0.0 days

Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 5 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	0.46 bp	6.6 bp −$7	7.7 bp −$77	37.5 bp −$3,751	doesn't fit

Hotstuff: 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 exchanges

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-PERPlong	−3.2000%	1h	4,331.1	long leg	$32K	—	25x
SunX XAU-USDT	0.0000%	4h	4,338.2	+0.163%	$92K	$5.8M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,328.4	−0.062%	$2.1M	$5.0M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,330.4	−0.016%	$304K	—	250x	as long as short
Bluefin GOLD-PERP	+0.0024%	1h	4,327.8	−0.075%	$25K	$1K	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0027%	1h	4,332.6	+0.035%	$135K	$708K	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.446%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0038%	4h	4,335.4	+0.099%	$72.1M	$276.1M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,334.9	+0.088%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,332.9	+0.042%	$6.7M	$3.2M	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,366.8	+0.824%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,331.4	+0.007%	$292.8M	$51.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.9	−0.029%	$15.1M	$59.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0053%	8h	4,333.5	+0.055%	$2K	$13K	5x	as long as short
Variational Omni XAU	+0.0064%	4h	4,333.5	+0.056%	$47.3M	$28.7M	—	as long as short
Lighter XAU	+0.0072%	1h	4,333.8	+0.063%	$20.1M	$30.4M	25x	as long as short
Gate XAU_USDT	+0.0076%	4h	4,335.9	+0.111%	$298.6M	$447.6M	100x	as long as short
MEXC XAU_USDT	+0.0078%	4h	4,334.3	+0.074%	$368.4M	$355.4M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0078%	4h	4,334.1	+0.070%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0079%	4h	4,333.9	+0.063%	$441.4M	$2.43B	100x	as long as short
edgeX XAUUSDC	+0.0082%	4h	4,330.2	−0.020%	$30.3M	$66.5M	50x	as long as short
Lighter RH XAU	+0.0096%	1h	4,336.1	+0.115%	$19.7M	$40.0M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,330.8	−0.006%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,329.9	−0.029%	$287K	$227K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,332.9	+0.041%	$160K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,334.2	+0.072%	$4.3M	$1.7M	20x	as long as short
Phoenix GOLD	+0.0127%	1h	4,332	+0.021%	$43K	$71K	25x	as long as short
Bybit XAUUSDT	+0.0127%	4h	4,334.9	+0.088%	$82.7M	$169.2M	150x	as long as short
Kalshi KXGOLDPERPshort	+0.0140%	24h	4,335.3	+0.097%	$3.5M	$51.2M	15x
Extended XAU-USD	+0.0144%	1h	4,330.4	−0.015%	$12.5M	$34.5M	25x	as long as short
Bullet GOLD-USD	+0.0159%	1h	4,334.2	+0.073%	$59K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0198%	4h	4,334.3	+0.073%	$72.7M	$139.9M	100x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,334.1	+0.069%	$4.7M	$13.2M	25x	as long as short
Phemex XAUUSDT	+0.0208%	4h	4,336.7	+0.130%	$2.3M	$777K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0232%	8h	4,334.6	+0.081%	$170.8M	$361.4M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,331.2	+0.002%	$583K	$167K	25x	as long as short
BloFin XAU-USDT	+0.0321%	4h	4,334.6	+0.080%	$16.4M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,335.2	+0.094%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1046%	4h	4,340.1	+0.207%	$3.2M	$7.1M	75x	as long as short