Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Kalshi−0.018%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$480.475% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.018%, 7d avg +0.048%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.066% cheaper against Kalshi than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,314.3	0.0098	pay 0.0295% / 24h	6h 09m	$3.7M	$45.0M	15x
Short	ApeX Omni XAUUSDT	4,313.5	0.0100	get 0.0013% / 1h	9m 08s	$272K	$209K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.018%Rate

Funding earned: $0.32
Price spread: −0.018% → +0.048%: −$6.62
Slippage, 4 orders: −$27.52
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$53.82
Costs to cover: 0.475%
Break-even: 1186.9 days

Slippage from Kalshi: live order book, 5 min ago; ApeX Omni: live order book, 28 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, 5 min ago	0.12 bp	5.9 bp −$6	6.1 bp −$61	8.1 bp −$815	doesn't fit
Sell ApeX Omni live order book, 28 min ago	5.20 bp	16.4 bp −$16	29.3 bp −$293	40.5 bp −$4,051	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
Hotstuff GOLD-PERP	−0.0032%	1h	4,309.9	−0.102%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,316.9	+0.060%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,308.3	−0.139%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.837%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,312.9	−0.032%	$5.7M	$2.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,346.2	+0.739%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,308.7	−0.130%	$290.3M	$52.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,309.4	−0.114%	$15.0M	$55.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0058%	1h	4,307.7	−0.152%	$25K	$1K	20x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,313.8	−0.011%	$72.9M	$271.8M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0062%	8h	4,312.9	−0.032%	$2K	$14K	5x	as long as short
Bybit XAUUSDT	+0.0069%	4h	4,312.5	−0.041%	$77.6M	$153.8M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,311.3	−0.071%	$20.3M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,309.5	−0.111%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	−0.009%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERPlong	+0.0098%	24h	4,314.3	long leg	$3.7M	$45.0M	15x
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.050%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,310.8	−0.081%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,313.5	−0.018%	$272K	$209K	50x
StandX XAU-USD	+0.0103%	1h	4,320	+0.132%	$3.8M	$4.5M	40x	as long as short
Lighter RH XAU	+0.0104%	1h	4,313.7	−0.014%	$19.9M	$40.1M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,308.5	−0.133%	$13.2M	$36.7M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,312	−0.054%	$361.9M	$337.0M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,311.7	−0.059%	$429.0M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.041%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,312.1	−0.051%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0116%	4h	4,313.9	−0.010%	$286.4M	$428.8M	100x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,313.1	−0.027%	$30.0M	$59.8M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,311.8	−0.058%	$70.4M	$120.2M	100x	as long as short
Bullet GOLD-USD	+0.0200%	1h	4,312.6	−0.039%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,313.6	−0.016%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,310.2	−0.095%	$574K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0265%	8h	4,312.3	−0.046%	$175.1M	$303.2M	100x	as long as short
BloFin XAU-USDT	+0.0350%	4h	4,312.8	−0.036%	$16.5M	$4.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0377%	1h	4,311.7	−0.060%	$160K	$877K	25x	as long as short
Phemex XAUUSDT	+0.0423%	4h	4,315.5	+0.029%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0312%	1h	4,312.4	−0.045%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0533%	4h	4,319.8	+0.126%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,313.3	−0.023%	$4.5M	$13.2M	25x	as long as short