Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.049%

Price spread now: RISEx against Kalshi+0.087%7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$190.186% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.106%+$11 on $10k

Price spread, last 7 days+0.025%+$3 · spread now +0.087%, 7d avg +0.105%

Together, before fees+0.132%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.105%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,372.2	0	get 0.0000% / 24h	13h 45m	$4.0M	$36.6M	15x
Short	RISEx XAU/USDC	4,376	0.0048	get 0.0006% / 1h	45m 31s	$3.4M	$12.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.087%Rate

Funding earned: $10.02
Price spread: +0.087% → +0.105%: −$1.81
Slippage, 4 orders: −$2.63
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$10.41
Costs to cover: 0.186%
Break-even: 14.3 days

Slippage from Kalshi: live order book, 4 min ago; RISEx: 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, 4 min ago	0.11 bp	6.6 bp −$7	7.0 bp −$70	10.1 bp −$1,010	doesn't fit
Sell RISEx live order book, 4 min ago	0.08 bp	3.1 bp −$3	3.8 bp −$38	64.1 bp −$6,409	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
Bluefin GOLD-PERP	−0.0105%	1h	4,369.4	−0.065%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0080%	1h	4,372	−0.005%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.1	+0.088%	$71.2M	$207.5M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.1	+0.089%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.6	+0.101%	$266.2M	$410.3M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,376.1	+0.090%	$375.8M	$321.6M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	+0.066%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERPlong	0.0000%	24h	4,372.2	long leg	$4.0M	$36.6M	15x
SunX XAU-USDT	0.0000%	4h	4,380.2	+0.183%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.6	−0.015%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	+0.0008%	4h	4,376.2	+0.091%	$69.7M	$113.9M	100x	as long as short
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.023%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.498%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376	+0.087%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.066%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.8	+0.860%	—	$1.0M	25x	as long as short
RISEx XAU/USDCshort	+0.0048%	1h	4,376	+0.087%	$3.4M	$12.3M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,371.8	−0.009%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.5	−0.017%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	+0.071%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,375.7	+0.079%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.9	+0.062%	$20.8M	$43.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	+0.063%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0088%	1h	4,377.3	+0.117%	$20.3M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	0.000%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	+0.011%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,374	+0.042%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0113%	1h	4,375.2	+0.069%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0120%	1h	4,371.8	−0.010%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.097%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0162%	1h	4,374	+0.041%	$236K	$655K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,378.4	+0.142%	$166.4M	$287.1M	100x	as long as short
Bybit XAUUSDT	+0.0182%	4h	4,376.8	+0.105%	$83.4M	$144.0M	150x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	+0.078%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.2	+0.024%	$596K	$146K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,374.8	+0.060%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376	+0.086%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0474%	4h	4,378.2	+0.138%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0582%	4h	4,380.4	+0.187%	$2.9M	$3.8M	75x	as long as short