Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.036%

Price spread now: Aster against Kalshi+0.081%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Kalshi Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 7 days+0.034%+$3 · spread now +0.081%, 7d avg +0.107%

Together, before fees+0.208%+ Points / potential airdropAster: Stage 5 · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.027% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.081% now, against its 7-day average of +0.107%). If the spread goes back, that is −$3 on $10k: about 7.6 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.173% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,343.9	0.0048	pay 0.0144% / 24h	10h 14m	$4.2M	$37.4M	15x
Short	Aster XAUUSD1	4,347.4	0.0060	get 0.0030% / 4h	14m 53s	$71.2M	$333.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.081%Rate

Funding earned: $2.45
Price spread: +0.081% → +0.107%: −$2.65
Slippage, 4 orders: −$2.43
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$20.63
Costs to cover: 0.204%
Break-even: 65.8 days

Slippage from Kalshi: live order book, 4 min ago; Aster: live order book, 4 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, 4 min ago	0.23 bp	6.0 bp −$6	6.2 bp −$62	9.5 bp −$949	doesn't fit
Sell Aster live order book, 4 min ago	0.01 bp	4.1 bp −$4	5.2 bp −$52	31.8 bp −$3,182	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	+0.048%	$3.4M	$12.2M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,347.8	+0.090%	$265.3M	$416.5M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.8	+0.159%	$92K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.8	−0.026%	$272K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,343.8	−0.002%	$33K	—	25x	as long as short
Lighter XAU	+0.0032%	1h	4,345	+0.026%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.5	−0.033%	$13.2M	$38.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.150%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,347.1	+0.075%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.7	+0.157%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0041%	1h	4,345.7	+0.041%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.1	+0.833%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,346	+0.048%	$2.0M	$4.8M	25x	as long as short
Kalshi KXGOLDPERPlong	+0.0048%	24h	4,343.9	long leg	$4.2M	$37.4M	15x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344	+0.002%	$293.8M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.6	−0.030%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1short	+0.0060%	4h	4,347.4	+0.081%	$71.2M	$333.2M	20x
Variational Omni XAU	+0.0075%	4h	4,349.4	+0.128%	$48.4M	$28.0M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,346.3	+0.055%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0088%	4h	4,346.4	+0.058%	$371.5M	$319.1M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0088%	4h	4,350.2	+0.145%	$1.4M	$2.9M	25x	as long as short
Binance XAUUSDT	+0.0089%	4h	4,346.7	+0.063%	$413.4M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.5	−0.032%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,348.6	+0.109%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,340.3	−0.083%	$25K	$14K	20x	as long as short
edgeX XAUUSDC	+0.0103%	4h	4,345.6	+0.039%	$30.2M	$58.2M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,345.7	+0.040%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,349	+0.117%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0158%	1h	4,346.5	+0.060%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0185%	1h	4,346.5	+0.060%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,343.2	−0.016%	$592K	$132K	25x	as long as short
Bitget XAUUSDT	+0.0230%	4h	4,347.2	+0.076%	$70.0M	$109.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,344.9	+0.023%	$206K	$824K	25x	as long as short
Phemex XAUUSDT	+0.0234%	4h	4,349.5	+0.128%	$2.2M	$967K	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,348.2	+0.100%	$85.1M	$145.5M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0295%	8h	4,347.9	+0.092%	$165.3M	$282.4M	100x	as long as short
BloFin XAU-USDT	+0.0329%	4h	4,345.8	+0.044%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0417% / S −0.0237%	1h	4,346.5	+0.060%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0621%	4h	4,350.6	+0.154%	$2.8M	$4.5M	75x	as long as short