Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.013%

Price spread now: Gate against Kalshi+0.065%7-day average +0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Kalshi Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days+0.092%+$9 · spread now +0.065%, 7d avg +0.132%

Together, before fees+0.165%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.067% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.065% now, against its 7-day average of +0.132%). If the spread goes back, that is −$7 on $10k: about 8.5 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	4,348.6	0.0054	pay 0.0161% / 24h	8h 48m	$4.2M	$39.4M	15x
Short	Gate XAU_USDT	4,351.4	0.0080	get 0.0040% / 4h	2h 48m	$271.9M	$397.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.065%Rate

Funding earned: $5.5
Price spread: +0.065% → +0.132%: −$6.69
Slippage, 4 orders: −$2.18
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$28.37
Costs to cover: 0.272%
Break-even: 43.1 days

Slippage from Kalshi: live order book, 5 min ago; Gate: live order book, 5 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	6.5 bp −$6	8.2 bp −$82	12.2 bp −$1,217	doesn't fit
Sell Gate live order book, 5 min ago	0.01 bp	7.6 bp −$8	9.1 bp −$91	13.0 bp −$1,301	14.4 bp −$7,190

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	−0.0076%	1h	4,344.4	−0.096%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.6	+0.138%	$93K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.6	−0.069%	$272K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.6	−0.069%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.042%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.3	+0.062%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,348.9	+0.007%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.9	+0.789%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,346.5	−0.048%	$293.7M	$49.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,346.5	−0.048%	$15.1M	$56.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERPlong	+0.0054%	24h	4,348.6	long leg	$4.2M	$39.4M	15x
RISEx XAU/USDC	+0.0054%	1h	4,350.8	+0.050%	$3.7M	$12.6M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,348.8	+0.005%	$20.7M	$30.3M	25x	as long as short
Bybit XAUUSDT	+0.0068%	4h	4,350.9	+0.053%	$80.2M	$151.7M	150x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,350	+0.032%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,347.9	−0.016%	$2.1M	$4.7M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,346.6	−0.046%	$33K	—	25x	as long as short
Gate XAU_USDTshort	+0.0080%	4h	4,351.4	+0.065%	$271.9M	$397.0M	100x
Pacifica XAU	+0.0100%	1h	4,346.3	−0.052%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.9	−0.039%	$277K	$204K	50x	as long as short
Aster XAUUSD1	+0.0107%	4h	4,352	+0.078%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0108%	4h	4,349.5	+0.020%	$48.5M	$27.6M	—	as long as short
Lighter RH XAU	+0.0112%	1h	4,350.9	+0.053%	$20.1M	$38.1M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,348.8	+0.004%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,349.5	+0.021%	$370.1M	$317.6M	1000x	as long as short
Binance XAUUSDT	+0.0119%	4h	4,349.9	+0.029%	$419.4M	$2.09B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0124%	4h	4,350	+0.033%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.7	−0.021%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,342.6	−0.139%	$30.2M	$58.0M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0141%	1h	4,347.9	−0.016%	$203K	$821K	25x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,349.9	+0.030%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0171%	1h	4,349.8	+0.028%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0200%	4h	4,352.3	+0.084%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0246%	1h	4,346.8	−0.042%	$591K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0278%	4h	4,350.1	+0.035%	$71.5M	$108.1M	100x	as long as short
HTX XAU-USDT	+0.0289%	4h	4,351.8	+0.073%	$2.8M	$4.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0336%	8h	4,350.8	+0.051%	$168.1M	$282.5M	100x	as long as short
BloFin XAU-USDT	+0.0372%	4h	4,349.2	+0.015%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,349.7	+0.025%	$251K	—	111x	as long as short