Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.049%

Price spread now: Kalshi against HTX−0.136%7-day average −0.146% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on HTX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.136%, 7d avg −0.146%

Together, before fees−0.237%−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.146%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,356.9	0.0039	pay 0.0020% / 4h	1h 46m	$2.8M	$3.8M	75x
Short	Kalshi KXGOLDPERP	4,351	0	get 0.0000% / 24h	15h 46m	$3.9M	$34.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against HTX. 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 HTXbpFee KalshibpOrdersPrice spread, now −0.136%Rate

Funding earned: −$8.2
Price spread: −0.136% → −0.146%: $1.04
Slippage, 4 orders: −$5.53
Fee HTX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$34.69
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Kalshi: live order book, 3 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 HTX live order book, 3 min ago	0.01 bp	9.2 bp −$9	11.4 bp −$114	16.9 bp −$1,691	doesn't fit
Sell Kalshi live order book, 3 min ago	0.12 bp	6.0 bp −$6	7.3 bp −$73	12.2 bp −$1,223	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,351.1	−0.134%	$600K	$160K	25x	as long as short
tradeXYZ xyz:GOLD	−0.0055%	1h	4,348.8	−0.186%	$292.8M	$53.5M	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,353.6	−0.075%	$71.3M	$238.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,353.5	−0.079%	$410.1M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,353.9	−0.069%	$82.5M	$141.8M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,353.4	−0.082%	$3.4M	$12.5M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,354.3	−0.060%	$271.0M	$407.1M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,353.4	−0.082%	$374.5M	$349.2M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,353.4	−0.080%	$67.3M	$110.8M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,351.3	−0.128%	$47.9M	$32.5M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,352.5	−0.102%	$1.4M	$3.2M	25x	as long as short
Kalshi KXGOLDPERPshort	0.0000%	24h	4,351	−0.136%	$3.9M	$34.0M	15x
SunX XAU-USDT	0.0000%	4h	4,357.4	+0.011%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,350.1	−0.157%	$267K	—	10x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,352	−0.113%	$5.5M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0014%	4h	4,346.6	−0.237%	$30.3M	$58.2M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,351.6	−0.123%	$20.8M	$43.4M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,353.7	−0.075%	$20.2M	$41.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,349.7	−0.165%	$13.0M	$49.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.149%	$619	$54	52x	as long as short
HTX XAU-USDTlong	+0.0039%	4h	4,356.9	long leg	$2.8M	$3.8M	75x
StandX XAU-USD	+0.0040%	1h	4,353	−0.090%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,387.5	+0.702%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,348.5	−0.193%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,351.8	−0.118%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,349.5	−0.170%	$14.4M	$55.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0051%	8h	4,353.5	−0.079%	$19K	$6K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,352.7	−0.096%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0096%	1h	4,353.5	−0.079%	$59K	$84K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,350.3	−0.152%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,349.7	−0.166%	$273K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,348.8	−0.186%	$47K	$65K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,351.8	−0.118%	$221K	$853K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0164%	8h	4,354	−0.067%	$158.6M	$268.1M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,350.8	−0.140%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,353.5	−0.078%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0318%	4h	4,354.1	−0.064%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,353.5	−0.079%	$251K	—	29x	as long as short
Bluefin GOLD-PERP	+0.0660%	1h	4,349.9	−0.162%	$26K	$21K	20x	as long as short