Funding arb · Price arb /

XAU

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0333%/8h= −36.4% APRpaid last 24h −0.056%

Price spread now: Aster against Kraken Futures+0.047%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$250.245% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.047%, 7d avg +0.073%

Together, before fees−0.213%+ Points / potential airdropAster: Stage 5 · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Aster is 0.026% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.073%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.184% in total (about -9.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,341.9	0.0333	pay 0.0042% / 1h	1m 08s	$599K	$157K	25x
Short	Aster XAUUSD1	4,343.9	0	get 0.0000% / 4h	2h 01m	$71.1M	$240.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$69.87
Price spread: +0.047% → +0.073%: −$2.63
Slippage, 4 orders: −$6.53
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$97.04
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 22 min ago; Aster: 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 Kraken Futures live order book, 22 min ago	2.74 bp	8.2 bp −$8	15.0 bp −$150	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	14.2 bp −$1,420	doesn't fit

XAU on 38 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	−0.0570%	1h	4,337	−0.113%	$26K	$21K	20x	as long as short
Aster XAUUSD1short	0.0000%	4h	4,343.9	+0.047%	$71.1M	$240.6M	20x
Binance XAUUSDT	0.0000%	4h	4,344.4	+0.058%	$411.5M	$2.11B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,345	+0.072%	$82.6M	$144.7M	150x	as long as short
Gate XAU_USDT	0.0000%	4h	4,345.8	+0.090%	$273.9M	$413.8M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,343.5	+0.037%	$371.4M	$350.9M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,345	+0.072%	$67.3M	$113.9M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,341.5	−0.008%	$47.8M	$33.8M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,342	+0.003%	$1.4M	$3.3M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,342.4	+0.012%	$3.9M	$34.1M	15x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet GOLD-USD	0.0000%	1h	4,344.3	+0.056%	$59K	$84K	10x	as long as short
SunX XAU-USDT	0.0000%	4h	4,348.5	+0.153%	$92K	$10.9M	20x	as long as short
HTX XAU-USDT	0.0000%	4h	4,348.7	+0.158%	$2.8M	$3.8M	75x	as long as short
edgeX XAUUSDC	+0.0010%	4h	4,337.8	−0.094%	$30.2M	$58.0M	50x	as long as short
Lighter XAU	+0.0032%	1h	4,341.9	0.000%	$20.7M	$46.8M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,344.3	+0.056%	$20.2M	$45.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.2	+0.030%	$13.2M	$50.6M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0033%	1h	4,340	−0.043%	$292.2M	$53.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.197%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,342.7	+0.019%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,381.9	+0.922%	—	$995K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,342.2	+0.007%	$4.3M	$2.3M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.7	+0.019%	$14.3M	$54.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,344.2	+0.054%	$19K	$6K	5x	as long as short
QFEX GOLD-USD	+0.0052%	1h	4,344	+0.049%	$5.5M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,340.6	−0.029%	$2.0M	$5.2M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,342.6	+0.017%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.3	+0.010%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343	+0.026%	$272K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,343.4	+0.035%	$47K	$69K	25x	as long as short
Hotstuff GOLD-PERP	+0.0136%	1h	4,339.7	−0.050%	$33K	—	25x	as long as short
OKX XAU-USDT-SWAP	+0.0174%	8h	4,345.5	+0.083%	$158.1M	$274.8M	100x	as long as short
RISEx XAU/USDC	+0.0190%	1h	4,343.9	+0.047%	$3.4M	$12.6M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,344.4	+0.058%	$14.8M	$4.3M	100x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0333%	1h	4,341.9	long leg	$599K	$157K	25x
Phemex XAUUSDT	+0.0389%	4h	4,344.8	+0.068%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,344.4	+0.057%	$251K	—	29x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0695%	1h	4,342.6	+0.017%	$221K	$878K	25x	as long as short