Funding you earn now, next payment 06:00 UTC−0.0082%/8h= −8.9% APRnext payment −$0.10 per $10,000 · paid last 24h −0.054%
Price spread now: Coinbase International against Kraken Futures−0.006%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$310.310% of the position
Funding, last 7 days+0.191%+$19 on $10k
+Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.006%, 7d avg −0.031%
=The price spread pays, funding is against you. Coinbase International is 0.025% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.006% now, against its 7-day average of −0.031%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 25 hours. Mind the row above: over the last 7 days funding on this pair paid +0.191%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XAUUSD | 4,319.7 | 0.0154 | pay 0.0019% / 1h | 22m 45s | $584K | $135K | 25x |
| Short | Coinbase International GOLD-PERP-INTX | 4,319.4 | 0.0072 | get 0.0009% / 1h | 22m 45s | $2.1M | $4.9M | 25x |
Kraken Futures PF_XAUUSD
Coinbase International GOLD-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$17.12
- Price spread: −0.006% → −0.031%
- $2.52
- Slippage, 4 orders
- −$11.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$45.62
- Costs to cover
- 0.310%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 20 min ago; Coinbase International: live order book, 1 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, 20 min ago | 3.15 bp | 8.2 bp −$8 | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 1 min ago | 0.12 bp | 5.3 bp −$5 | 6.9 bp −$69 | doesn't fit | 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 | −0.0064% | 1h | 4,316.8 | −0.067% | $25K | $1K | 20x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,326.6 | +0.161% | $92K | $7.7M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,318.3 | −0.031% | $270K | — | 250x | as long as short |
| Bybit XAUUSDT | +0.0014% | 4h | 4,323.6 | +0.091% | $77.3M | $154.8M | 150x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.712% | $619 | $54 | 52x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,323.4 | +0.086% | $3.8M | $4.5M | 40x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,321.7 | +0.047% | $5.4M | $2.0M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,354.8 | +0.813% | — | $1.0M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,319.6 | −0.001% | $291.5M | $51.2M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,318 | −0.038% | $15.0M | $55.4M | 25x | as long as short |
Bluefin GOLD-PERP
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Bybit XAUUSDT
Injective XAU/USDC PERP
StandX XAU-USD
QFEX GOLD-USD
Vest GC-PERP
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.PShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter XAU | +0.0064% | 1h | 4,321.8 | +0.050% | $20.3M | $30.6M | 25x | as long as short |
| Aster XAUUSD1 | +0.0067% | 4h | 4,324.7 | +0.116% | $72.5M | $275.9M | 20x | as long as short |
| Hotstuff GOLD-PERP | +0.0072% | 1h | 4,318.6 | −0.025% | $32K | — | 25x | as long as short |
| Coinbase International GOLD-PERP-INTXshort | +0.0072% | 1h | 4,319.4 | −0.006% | $2.1M | $4.9M | 25x | |
| Paradex XAU-USD-PERP | +0.0076% | 8h | 4,321.6 | +0.044% | $2K | $13K | 5x | as long as short |
| Kalshi KXGOLDPERP | +0.0078% | 24h | 4,324.1 | +0.103% | $3.8M | $43.7M | 15x | as long as short |
| GRVT XAU_USDT_Perp | +0.0082% | 4h | 4,323.1 | +0.080% | $1.4M | $3.0M | 25x | as long as short |
| Extended XAU-USD | +0.0088% | 1h | 4,318.7 | −0.021% | $12.9M | $37.0M | 25x | as long as short |
| Variational Omni XAU | +0.0090% | 4h | 4,322.1 | +0.057% | $47.3M | $28.9M | — | as long as short |
| MEXC XAU_USDT | +0.0096% | 4h | 4,323.1 | +0.078% | $362.1M | $331.0M | 1000x | as long as short |
| Binance XAUUSDT | +0.0098% | 4h | 4,322.4 | +0.063% | $417.1M | $2.12B | 100x | as long as short |
| Phoenix GOLD | +0.0100% | 1h | 4,319.6 | −0.001% | $47K | $79K | 25x | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,319.4 | −0.006% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,319.8 | +0.004% | $272K | $208K | 50x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,321.9 | +0.052% | $160K | $87 | 10x | as long as short |
| edgeX XAUUSDC | +0.0108% | 4h | 4,318.8 | −0.021% | $30.0M | $59.5M | 50x | as long as short |
| Lighter RH XAU | +0.0112% | 1h | 4,324.5 | +0.113% | $19.9M | $38.9M | 25x | as long as short |
| Gate XAU_USDT | +0.0112% | 4h | 4,323.9 | +0.099% | $280.8M | $419.2M | 100x | as long as short |
| Kraken Futures PF_XAUUSDlong | +0.0154% | 1h | 4,319.7 | long leg | $584K | $135K | 25x | |
| Bullet GOLD-USD | +0.0180% | 1h | 4,322.6 | +0.068% | $59K | $82K | 10x | as long as short |
| RISEx XAU/USDC | +0.0184% | 1h | 4,324.9 | +0.122% | $4.1M | $12.9M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0210% | 1h | 4,322.6 | +0.068% | $4.3M | $1.9M | 20x | as long as short |
| Bitget XAUUSDT | +0.0222% | 4h | 4,322.5 | +0.067% | $67.7M | $118.0M | 100x | as long as short |
| HTX XAU-USDT | +0.0262% | 4h | 4,326.4 | +0.155% | $2.8M | $4.9M | 75x | as long as short |
| OKX XAU-USDT-SWAP | +0.0303% | 8h | 4,323.1 | +0.080% | $171.9M | $298.5M | 100x | as long as short |
| Phemex XAUUSDT | +0.0326% | 4h | 4,325.4 | +0.132% | $2.2M | $967K | 100x | as long as short |
| BloFin XAU-USDT | +0.0337% | 4h | 4,322.7 | +0.070% | $16.2M | $4.6M | 100x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0352% | 1h | 4,321.5 | +0.043% | $191K | $836K | 25x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0462% / S −0.0307% | 1h | 4,322.6 | +0.068% | $252K | — | 111x | as long as short |
Lighter XAU
Aster XAUUSD1
Hotstuff GOLD-PERP
Paradex XAU-USD-PERP
Kalshi KXGOLDPERP
GRVT XAU_USDT_Perp
Extended XAU-USD
Variational Omni XAU
MEXC XAU_USDT
Binance XAUUSDT
Phoenix GOLD
Pacifica XAU
ApeX Omni XAUUSDT
Aevo XAU-PERP
edgeX XAUUSDC
Lighter RH XAU
Gate XAU_USDT
Bullet GOLD-USD
RISEx XAU/USDC
Polymarket Perps GOLD-USD
Bitget XAUUSDT
HTX XAU-USDT
OKX XAU-USDT-SWAP
Phemex XAUUSDT
BloFin XAU-USDT
Deribit GOLD_USDC-PERPETUAL
GMX GOLD/USD [ETH-USDC]