Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.035%

Price spread now: Aevo against Kalshi+0.024%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Kalshi Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now +0.024%, 7d avg +0.081%

Together, before fees+0.355%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aevo is 0.057% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.024% now, against its 7-day average of +0.081%). If the spread goes back, that is −$6 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,346.5	0.0044	pay 0.0132% / 24h	10h 38m	$4.2M	$37.1M	15x
Short	Aevo XAU-PERP	4,347.6	0.0104	get 0.0013% / 1h	38m 34s	$161K	$87	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Kalshi. 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 KalshibpFee AevobpOrdersPrice spread, now +0.024%Rate

Funding earned: $12.57
Price spread: +0.024% → +0.081%: −$5.66
Slippage, 4 orders: −$19.27
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$38.36
Costs to cover: 0.453%
Break-even: 28.4 days

Slippage from Kalshi: live order book, 6 min ago; Aevo: live order book, 20 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 Kalshi live order book, 6 min ago	0.34 bp	6.7 bp −$7	7.0 bp −$70	10.4 bp −$1,036	doesn't fit
Sell Aevo live order book, 20 min ago	6.28 bp	15.5 bp −$16	32.1 bp −$321	doesn't fit	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	4,348.8	+0.053%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352.7	+0.143%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,344.1	−0.056%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0012%	4h	4,349.8	+0.076%	$267.8M	$411.0M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,347.7	+0.029%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.1	−0.033%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.090%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.8	+0.075%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.3	+0.064%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,348.4	+0.044%	$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
Kalshi KXGOLDPERPlong	+0.0044%	24h	4,346.5	long leg	$4.2M	$37.1M	15x
Vest GC-PERP	+0.0046%	1h	4,382.2	+0.821%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,345.7	−0.018%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,345.7	−0.018%	$293.9M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.5	−0.023%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0065%	4h	4,349.7	+0.074%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0079%	4h	4,348.9	+0.055%	$48.4M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,349.1	+0.060%	$1.4M	$3.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0086%	8h	4,348.8	+0.054%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,349	+0.058%	$372.2M	$317.1M	1000x	as long as short
Binance XAUUSDT	+0.0095%	4h	4,349.3	+0.064%	$414.4M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.3	−0.027%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,345.6	−0.021%	$275K	$203K	50x	as long as short
Aevo XAU-PERPshort	+0.0104%	1h	4,347.6	+0.024%	$161K	$87	10x
edgeX XAUUSDC	+0.0105%	4h	4,345	−0.034%	$30.2M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0142%	1h	4,346.8	+0.007%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,345.7	−0.018%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0156%	1h	4,348.8	+0.053%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,345.3	−0.026%	$593K	$133K	25x	as long as short
Phemex XAUUSDT	+0.0209%	4h	4,351.5	+0.115%	$2.2M	$967K	100x	as long as short
Bullet GOLD-USD	+0.0209%	1h	4,348.6	+0.049%	$60K	$82K	10x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,349.6	+0.072%	$70.0M	$109.1M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,350.5	+0.092%	$85.1M	$144.8M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,346.6	+0.002%	$243K	$788K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0283%	8h	4,350.4	+0.090%	$165.6M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0343%	4h	4,348.5	+0.046%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0229%	1h	4,348.1	+0.037%	$248K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0551%	1h	4,342.6	−0.091%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0629%	4h	4,353.6	+0.162%	$2.9M	$4.3M	75x	as long as short