Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0175%/8h= +19.2% APRpaid last 24h +0.066%

Price spread now: Bitget against Kalshi+0.048%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Kalshi Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.260%+$26 on $10k

Price spread, last 7 days+0.063%+$6 · spread now +0.048%, 7d avg +0.111%

Together, before fees+0.323%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.062% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.048% now, against its 7-day average of +0.111%). If the spread goes back, that is −$6 on $10k: about 29 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,344.4	0.0041	pay 0.0122% / 24h	11h 04m	$4.1M	$37.1M	15x
Short	Bitget XAUUSDT	4,346.5	0.0216	get 0.0108% / 4h	1h 04m	$70.2M	$109.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.048%Rate

Funding earned: $36.8
Price spread: +0.048% → +0.111%: −$6.24
Slippage, 4 orders: −$3.63
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $4.92
Costs to cover: 0.256%
Break-even: 6.1 days

Slippage from Kalshi: live order book, 5 min ago; Bitget: 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, 5 min ago	0.12 bp	6.8 bp −$7	7.0 bp −$70	9.9 bp −$986	doesn't fit
Sell Bitget live order book, 4 min ago	0.01 bp	6.8 bp −$7	8.3 bp −$83	12.7 bp −$1,274	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
SunX XAU-USDT	0.0000%	4h	4,352	+0.174%	$92K	$9.1M	20x	as long as short
Gate XAU_USDT	+0.0002%	4h	4,348.1	+0.084%	$265.4M	$417.6M	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.5	−0.021%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,345.8	+0.032%	$3.4M	$12.3M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,341.9	−0.057%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.139%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0040%	4h	4,346.6	+0.051%	$70.8M	$334.0M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.4	+0.092%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERPlong	+0.0041%	24h	4,344.4	long leg	$4.1M	$37.1M	15x
Vest GC-PERP	+0.0046%	1h	4,380.3	+0.826%	—	$1.0M	25x	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	+0.0046%	1h	4,347.3	+0.067%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,344.9	+0.011%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343	−0.032%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.7	−0.016%	$293.7M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.4	−0.046%	$15.1M	$56.7M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,350.1	+0.131%	$1.4M	$2.9M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,347.2	+0.064%	$20.1M	$39.9M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	+0.038%	$48.5M	$27.7M	—	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,344	−0.009%	$33K	—	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,346.2	+0.042%	$370.8M	$320.6M	1000x	as long as short
Binance XAUUSDT	+0.0075%	4h	4,346.2	+0.041%	$410.3M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,345.9	+0.035%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0085%	4h	4,343.7	−0.016%	$30.2M	$58.5M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,346.8	+0.055%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.5	−0.044%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	+0.060%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,346.8	+0.055%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	+0.037%	$47K	$77K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0187%	1h	4,345.3	+0.021%	$254K	$752K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,347.4	+0.070%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0201%	4h	4,349.9	+0.127%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0208%	4h	4,347.5	+0.072%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDTshort	+0.0216%	4h	4,346.5	+0.048%	$70.2M	$109.4M	100x
OKX XAU-USDT-SWAP	+0.0260%	8h	4,347.5	+0.071%	$165.3M	$283.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,344.7	+0.007%	$593K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,347.2	+0.064%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0403%	1h	4,342.3	−0.048%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0405% / S −0.0220%	1h	4,347.4	+0.070%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0590%	4h	4,352.4	+0.185%	$2.9M	$4.2M	75x	as long as short