Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.028%

Price spread now: GRVT against Kalshi+0.036%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Kalshi Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 7 days+0.066%+$7 · spread now +0.036%, 7d avg +0.114%

Together, before fees+0.260%+ Points / potential airdropGRVT: Active · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.077% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.036% now, against its 7-day average of +0.114%). If the spread goes back, that is −$8 on $10k: about 7.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.194% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,334.5	0.0064	pay 0.0193% / 24h	8h 04m	$4.0M	$42.3M	15x
Short	GRVT XAU_USDT_Perp	4,336.1	0.0098	get 0.0049% / 4h	2h 04m	$1.4M	$3.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.036%Rate

Funding earned: $7.09
Price spread: +0.036% → +0.114%: −$7.73
Slippage, 4 orders: −$2.69
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$22.34
Costs to cover: 0.217%
Break-even: 29.1 days

Slippage from Kalshi: live order book, 5 min ago; GRVT: 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	5.9 bp −$6	7.1 bp −$71	10.0 bp −$1,001	doesn't fit
Sell GRVT live order book, 4 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	5.8 bp −$583	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
Bybit XAUUSDT	0.0000%	4h	4,333.2	−0.031%	$78.4M	$156.4M	150x	as long as short
SunX XAU-USDT	0.0000%	4h	4,336.1	+0.036%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329	−0.128%	$271K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,328.1	−0.148%	$13.1M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.367%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,334.9	+0.009%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,331.2	−0.076%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.2	+0.708%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,330.7	−0.088%	$20.4M	$31.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,328.7	−0.134%	$291.9M	$51.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,327.6	−0.158%	$15.0M	$56.4M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,333.2	−0.030%	$3.8M	$12.5M	25x	as long as short
Gate XAU_USDT	+0.0062%	4h	4,333.8	−0.017%	$270.7M	$419.7M	100x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,328.8	−0.132%	$32K	—	25x	as long as short
Kalshi KXGOLDPERPlong	+0.0064%	24h	4,334.5	long leg	$4.0M	$42.3M	15x
Paradex XAU-USD-PERP	+0.0070%	8h	4,331.9	−0.059%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,333.4	−0.025%	$19.9M	$39.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,332	−0.058%	$2.0M	$4.8M	25x	as long as short
Aster XAUUSD1	+0.0091%	4h	4,333.2	−0.030%	$72.4M	$329.7M	20x	as long as short
GRVT XAU_USDT_Perpshort	+0.0098%	4h	4,336.1	+0.036%	$1.4M	$3.0M	25x
Pacifica XAU	+0.0100%	1h	4,328.3	−0.143%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,333.2	−0.031%	$273K	$208K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,326.3	−0.190%	$25K	$14K	20x	as long as short
Variational Omni XAU	+0.0101%	4h	4,334.6	+0.002%	$46.8M	$28.7M	—	as long as short
Binance XAUUSDT	+0.0107%	4h	4,332.1	−0.056%	$414.2M	$2.12B	100x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,332	−0.059%	$364.5M	$331.4M	1000x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.5	−0.046%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,331.7	−0.066%	$30.1M	$60.5M	50x	as long as short
Phoenix GOLD	+0.0127%	1h	4,332.8	−0.039%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,332.3	−0.051%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0174%	1h	4,332	−0.058%	$4.2M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0212%	1h	4,331.3	−0.074%	$195K	$826K	25x	as long as short
HTX XAU-USDT	+0.0222%	4h	4,336.6	+0.049%	$2.8M	$5.0M	75x	as long as short
Bitget XAUUSDT	+0.0246%	4h	4,332.2	−0.054%	$68.1M	$119.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,329.6	−0.112%	$590K	$130K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,332.5	−0.046%	$170.5M	$297.2M	100x	as long as short
Phemex XAUUSDT	+0.0370%	4h	4,334.2	−0.007%	$2.2M	$962K	100x	as long as short
BloFin XAU-USDT	+0.0381%	4h	4,332.4	−0.049%	$16.0M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0305%	1h	4,332.4	−0.049%	$253K	—	111x	as long as short