Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.041%

Price spread now: Polymarket Perps against Kalshi+0.046%7-day average +0.025% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.046%, 7d avg +0.025%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Polymarket Perps is 0.021% dearer against Kalshi than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,353.6	0.0039	pay 0.0117% / 24h	11h 26m	$4.1M	$37.0M	15x
Short	Polymarket Perps GOLD-USD	4,355.6	0.0126	get 0.0016% / 1h	26m 27s	$4.3M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.046%Rate

Funding earned: $18.38
Price spread: +0.046% → +0.025%: $2.09
Slippage, 4 orders: −$4
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$1.53
Costs to cover: 0.220%
Break-even: 7.6 days

Slippage from Kalshi: live order book, 3 min ago; Polymarket Perps: live order book, 3 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, 3 min ago	0.12 bp	5.7 bp −$6	6.0 bp −$60	9.4 bp −$944	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.69 bp	5.2 bp −$5	5.4 bp −$54	6.4 bp −$635	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	4,359.8	+0.141%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.2	−0.008%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0008%	4h	4,358.6	+0.116%	$265.1M	$412.1M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,356.7	+0.072%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,353.7	+0.001%	$13.6M	$39.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.073%	$619	$54	52x	as long as short
Kalshi KXGOLDPERPlong	+0.0039%	24h	4,353.6	long leg	$4.1M	$37.0M	15x
StandX XAU-USD	+0.0040%	1h	4,356.4	+0.064%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,356.9	+0.075%	$70.5M	$333.8M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.7	+0.829%	—	$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	4,355.8	+0.051%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,352.2	−0.032%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.8	−0.018%	$294.1M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,353.8	+0.006%	$15.1M	$57.3M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0052%	4h	4,353.7	+0.001%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,356.6	+0.069%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,353	−0.015%	$48.3M	$27.8M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,358.4	+0.109%	$20.2M	$39.7M	25x	as long as short
MEXC XAU_USDT	+0.0074%	4h	4,357.2	+0.082%	$372.2M	$318.7M	1000x	as long as short
Binance XAUUSDT	+0.0074%	4h	4,356.4	+0.064%	$413.0M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,357.7	+0.094%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0087%	4h	4,349.1	−0.104%	$30.3M	$58.2M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,355	+0.031%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,353.3	−0.007%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351	−0.060%	$275K	$202K	50x	as long as short
Polymarket Perps GOLD-USDshort	+0.0126%	1h	4,355.6	+0.046%	$4.3M	$1.9M	20x
Phoenix GOLD	+0.0136%	1h	4,350.3	−0.076%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0137%	4h	4,356.8	+0.074%	$2.2M	$1.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0140%	1h	4,355.1	+0.034%	$258K	$707K	25x	as long as short
Hotstuff GOLD-PERP	+0.0168%	1h	4,353.4	−0.005%	$33K	—	25x	as long as short
Bybit XAUUSDT	+0.0197%	4h	4,357.5	+0.090%	$84.5M	$145.6M	150x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,356.4	+0.064%	$70.2M	$109.4M	100x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,356.1	+0.057%	$59K	$83K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,357.3	+0.085%	$165.1M	$282.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,353.4	−0.005%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0298%	4h	4,356	+0.055%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0212%	1h	4,356.7	+0.072%	$249K	—	111x	as long as short
HTX XAU-USDT	+0.0565%	4h	4,359.9	+0.144%	$2.9M	$4.2M	75x	as long as short
Bluefin GOLD-PERP	+0.0641%	1h	4,349.1	−0.104%	$25K	$14K	20x	as long as short