Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0127%/8h= −14.0% APRpaid last 24h −0.046%

Price spread now: Binance against Kraken Futures+0.067%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

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

costs, in and out, $10k−$270.269% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.179%−$18 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.067%, 7d avg +0.067%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.067%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,346.8	0.0246	pay 0.0031% / 1h	49m 19s	$591K	$130K	25x
Short	Binance XAUUSDT	4,349.7	0.0119	get 0.0059% / 4h	2h 49m	$419.4M	$2.09B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.067%Rate

Funding earned: −$26.76
Price spread: +0.067% → +0.067%: $0
Slippage, 4 orders: −$6.92
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$53.68
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 64 min ago; Binance: live order book, 10 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, 64 min ago	2.36 bp	8.4 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	6.1 bp −$610	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	−0.0076%	1h	4,344.4	−0.054%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.6	+0.179%	$93K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,345.6	−0.027%	$272K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,345.7	−0.025%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.084%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.3	+0.104%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,348.9	+0.049%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,382.9	+0.831%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,346.6	−0.004%	$293.7M	$49.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,346.5	−0.006%	$15.1M	$56.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0054%	24h	4,348.8	+0.046%	$4.2M	$39.4M	15x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,350.8	+0.092%	$3.7M	$12.6M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,349.1	+0.053%	$20.7M	$30.3M	25x	as long as short
Bybit XAUUSDT	+0.0068%	4h	4,350.7	+0.089%	$80.2M	$151.7M	150x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,350	+0.074%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,347.9	+0.026%	$2.1M	$4.7M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,346.6	−0.004%	$33K	—	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,351.1	+0.099%	$271.8M	$396.8M	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.3	−0.011%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.9	+0.003%	$277K	$204K	50x	as long as short
Aster XAUUSD1	+0.0107%	4h	4,351.9	+0.117%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0108%	4h	4,349.5	+0.062%	$48.5M	$27.6M	—	as long as short
Lighter RH XAU	+0.0112%	1h	4,351.5	+0.108%	$20.1M	$38.1M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,348.8	+0.046%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,350	+0.074%	$370.1M	$317.5M	1000x	as long as short
Binance XAUUSDTshort	+0.0119%	4h	4,349.7	+0.067%	$419.4M	$2.09B	100x
GRVT XAU_USDT_Perp	+0.0124%	4h	4,350	+0.075%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.7	+0.021%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,342.6	−0.097%	$30.2M	$58.0M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0141%	1h	4,347.9	+0.026%	$203K	$821K	25x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,349.9	+0.072%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0171%	1h	4,349.8	+0.069%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0196%	4h	4,352.7	+0.136%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0246%	1h	4,346.8	long leg	$591K	$130K	25x
Bitget XAUUSDT	+0.0278%	4h	4,350	+0.074%	$71.5M	$108.1M	100x	as long as short
HTX XAU-USDT	+0.0297%	4h	4,351.8	+0.115%	$2.8M	$4.6M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0336%	8h	4,350.9	+0.095%	$168.1M	$282.5M	100x	as long as short
BloFin XAU-USDT	+0.0361%	4h	4,349.3	+0.057%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,349.7	+0.067%	$251K	—	111x	as long as short