Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.017%

Price spread now: Extended against Kalshi−0.037%7-day average +0.016% · you buy dearer than you sell

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

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

costs, in and out, $10k−$180.180% of the position

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 7 days+0.105%+$11 · spread now −0.037%, 7d avg +0.016%

Together, before fees+0.213%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.053% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.016%). If the spread goes back, that is −$5 on $10k: about 5.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,365.1	0	get 0.0000% / 24h	14h 42m	$4.0M	$35.3M	15x
Short	Extended XAU-USD	4,363.5	0.0032	get 0.0004% / 1h	42m 02s	$13.0M	$46.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.037%Rate

Funding earned: $6.72
Price spread: −0.037% → +0.016%: −$5.29
Slippage, 4 orders: −$2.96
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$16.53
Costs to cover: 0.180%
Break-even: 24.2 days

Slippage from Kalshi: live order book, 2 min ago; Extended: live order book, 2 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, 2 min ago	0.12 bp	5.6 bp −$6	6.0 bp −$60	7.5 bp −$753	doesn't fit
Sell Extended live order book, 2 min ago	0.12 bp	2.6 bp −$3	3.5 bp −$35	8.3 bp −$829	29.2 bp −$14.6K

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
Bluefin GOLD-PERP	−0.0304%	1h	4,360.3	−0.109%	$26K	$21K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,362	−0.071%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.9	+0.040%	$71.6M	$228.0M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,366	+0.021%	$407.9M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366.6	+0.033%	$82.6M	$141.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,367.2	+0.049%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,366.5	+0.033%	$268.1M	$407.7M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,365.9	+0.019%	$377.2M	$321.4M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,365.8	+0.016%	$67.0M	$111.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,365.9	+0.018%	$48.5M	$30.6M	—	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	4,363.8	−0.031%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERPlong	0.0000%	24h	4,365.1	long leg	$4.0M	$35.3M	15x
SunX XAU-USDT	0.0000%	4h	4,372.2	+0.163%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,363.1	−0.047%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0019%	4h	4,360.5	−0.105%	$30.3M	$58.3M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,367	+0.044%	$5.6M	$1.7M	20x	as long as short
Lighter XAU	+0.0032%	1h	4,365.1	−0.001%	$20.8M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.3	+0.050%	$20.3M	$41.6M	25x	as long as short
Extended XAU-USDshort	+0.0032%	1h	4,363.5	−0.037%	$13.0M	$46.5M	25x
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.336%	$619	$54	52x	as long as short
Bullet GOLD-USD	+0.0035%	1h	4,366.9	+0.041%	$60K	$81K	10x	as long as short
StandX XAU-USD	+0.0040%	1h	4,366.3	+0.027%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,401.7	+0.838%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0048%	1h	4,365	−0.002%	$235K	$735K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,362.5	−0.060%	$293.7M	$52.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,367.3	+0.051%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,364.2	−0.021%	$14.5M	$56.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,364.2	−0.021%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0075%	1h	4,367.3	+0.050%	$4.3M	$1.8M	20x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,365.9	+0.019%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,364	−0.025%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.3	−0.086%	$277K	$204K	50x	as long as short
HTX XAU-USDT	+0.0138%	4h	4,371.1	+0.136%	$2.8M	$3.8M	75x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,364	−0.025%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0154%	8h	4,366.5	+0.032%	$157.9M	$271.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0220%	1h	4,364.6	−0.011%	$602K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,366.8	+0.039%	$14.7M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0302%	4h	4,369.2	+0.095%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,366.8	+0.039%	$252K	—	111x	as long as short