Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.046%

Price spread now: Variational Omni against Kalshi+0.005%7-day average +0.101% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.072%+$7 on $10k

Price spread, last 7 days+0.085%+$9 · spread now +0.005%, 7d avg +0.101%

Together, before fees+0.158%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.096% cheaper against Kalshi than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,351.1	0	get 0.0000% / 24h	15h 48m	$3.9M	$34.0M	15x
Short	Variational Omni XAU	4,351.3	0	get 0.0000% / 4h	1h 48m	$47.9M	$32.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → +0.101%: −$9.62
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.62
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 6 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, 6 min ago	0.12 bp	5.1 bp −$5	5.3 bp −$53	8.4 bp −$836	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	1.55 bp	doesn't fit	2.0 bp −$20	6.3 bp −$631	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,350.5	−0.013%	$600K	$160K	25x	as long as short
tradeXYZ xyz:GOLD	−0.0066%	1h	4,348.4	−0.062%	$292.8M	$53.5M	25x	as long as short
Hotstuff GOLD-PERP	−0.0008%	1h	4,347.8	−0.076%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,353.2	+0.048%	$71.3M	$238.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,353	+0.045%	$410.0M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,353.6	+0.057%	$82.5M	$141.8M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,353	+0.043%	$3.4M	$12.6M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,353.7	+0.060%	$271.0M	$406.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,352.8	+0.039%	$375.6M	$349.0M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,353.4	+0.053%	$67.4M	$110.8M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAUshort	0.0000%	4h	4,351.3	+0.005%	$47.9M	$32.5M	—
GRVT XAU_USDT_Perp	0.0000%	4h	4,352.5	+0.031%	$1.4M	$3.2M	25x	as long as short
Kalshi KXGOLDPERPlong	0.0000%	24h	4,351.1	long leg	$3.9M	$34.0M	15x
SunX XAU-USDT	0.0000%	4h	4,357	+0.135%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,349.2	−0.043%	$267K	—	10x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,352	+0.021%	$5.5M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0014%	4h	4,346.6	−0.104%	$30.3M	$58.2M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,351.2	+0.003%	$20.8M	$43.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,353	+0.043%	$20.2M	$41.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,349.6	−0.035%	$13.0M	$49.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.016%	$619	$54	52x	as long as short
HTX XAU-USDT	+0.0033%	4h	4,356.9	+0.134%	$2.8M	$3.8M	75x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.4	−0.016%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.9	+0.823%	—	$995K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,351.6	+0.011%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,349	−0.048%	$14.5M	$55.3M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,353.3	+0.051%	$19K	$6K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,351.9	+0.019%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0086%	1h	4,352.8	+0.040%	$59K	$84K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,349.7	−0.032%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.4	−0.086%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,392.7	+0.956%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,348.1	−0.069%	$47K	$65K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,351.2	+0.002%	$221K	$853K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0164%	8h	4,353.7	+0.060%	$158.5M	$268.5M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,350	−0.025%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,352.7	+0.037%	$14.7M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0322%	4h	4,354.1	+0.070%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,352.8	+0.039%	$251K	—	29x	as long as short