Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.069%

Price spread now: Gate against Kraken Futures+0.115%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.298%−$30 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.115%, 7d avg +0.094%

Together, before fees−0.343%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.021% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of +0.094%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,338.1	0.0259	pay 0.0032% / 1h	24m 23s	$592K	$132K	25x
Short	Gate XAU_USDT	4,343.1	0.0084	get 0.0042% / 4h	3h 24m	$269.2M	$416.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.115%Rate

Funding earned: −$36.79
Price spread: +0.115% → +0.094%: $2.07
Slippage, 4 orders: −$6.98
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$66.7
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 29 min ago; Gate: live order book, 5 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, 29 min ago	2.36 bp	8.4 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.01 bp	7.5 bp −$8	8.4 bp −$84	12.2 bp −$1,222	14.2 bp −$7,088

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
SunX XAU-USDT	0.0000%	4h	4,345.2	+0.164%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,337.8	−0.009%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,341.3	+0.073%	$3.9M	$12.4M	25x	as long as short
Bybit XAUUSDT	+0.0022%	4h	4,342.4	+0.097%	$79.9M	$152.1M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,337.5	−0.016%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.283%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.6	+0.080%	$3.8M	$4.5M	40x	as long as short
Bluefin GOLD-PERP	+0.0040%	1h	4,335.5	−0.061%	$25K	$14K	20x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	+0.050%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,373.8	+0.822%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,339.9	+0.040%	$20.7M	$34.6M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,338.2	+0.001%	$293.5M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,338.4	+0.006%	$15.1M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,339.4	+0.029%	$4.2M	$37.4M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	+0.031%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0056%	8h	4,340.7	+0.058%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0064%	1h	4,342.5	+0.101%	$20.2M	$40.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,338	−0.003%	$33K	—	25x	as long as short
Gate XAU_USDTshort	+0.0084%	4h	4,343.1	+0.115%	$269.2M	$416.8M	100x
Aster XAUUSD1	+0.0091%	4h	4,343	+0.113%	$71.5M	$332.0M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,337.2	−0.022%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,338.1	−0.002%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,340.5	+0.054%	$48.3M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,340.1	+0.046%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0116%	4h	4,341.4	+0.076%	$371.1M	$320.1M	1000x	as long as short
Binance XAUUSDT	+0.0117%	4h	4,341.6	+0.080%	$417.7M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0131%	4h	4,338	−0.003%	$30.2M	$58.1M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.4	+0.006%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0204%	4h	4,341.8	+0.084%	$1.4M	$2.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0215%	1h	4,341.4	+0.075%	$4.3M	$1.9M	20x	as long as short
Bullet GOLD-USD	+0.0215%	1h	4,341.6	+0.080%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,339.8	+0.038%	$205K	$826K	25x	as long as short
Phemex XAUUSDT	+0.0257%	4h	4,344.1	+0.138%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0259%	1h	4,338.1	long leg	$592K	$132K	25x
Bitget XAUUSDT	+0.0264%	4h	4,342.2	+0.093%	$71.0M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,341.9	+0.087%	$167.0M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0356%	4h	4,341.7	+0.083%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,341.6	+0.080%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0594%	4h	4,345.8	+0.175%	$2.8M	$4.6M	75x	as long as short