Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.009%

Price spread now: HTX against Kraken Futures+0.189%59s7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.349% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.189%, 7d avg +0.120%

Together, before fees−0.294%−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.069% dearer against Kraken Futures than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.120%. Mind the row above: over the last 7 days funding on this pair cost −0.199%, so the current rate has only just turned in your favour. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,318.4	0.0154	pay 0.0019% / 1h	39m 24s	$584K	$134K	25x
Short	HTX XAU-USDT	4,326.6	0.0221	get 0.0110% / 4h	1h 39m	$2.8M	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.189%Rate

Funding earned: $14.14
Price spread: +0.189% → +0.120%: $6.94
Slippage, 4 orders: −$12.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$13.78
Costs to cover: 0.349%
Break-even: 13.8 days

Slippage from Kraken Futures: live order book, 4 min ago; HTX: 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, 4 min ago	3.15 bp	8.2 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	0.01 bp	7.1 bp −$7	10.4 bp −$104	14.5 bp −$1,447	22.8 bp −$11.4K

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	−0.0097%	1h	4,315.9	−0.059%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,324.9	+0.149%	$92K	$7.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,317.2	−0.028%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0005%	4h	4,321.8	+0.078%	$77.3M	$155.8M	150x	as long as short
Hotstuff GOLD-PERP	+0.0008%	1h	4,319.6	+0.027%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,317.3	−0.027%	$13.1M	$36.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.741%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.9	+0.150%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,320.2	+0.041%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,353.9	+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
tradeXYZ xyz:GOLD	+0.0050%	1h	4,317.9	−0.012%	$291.4M	$51.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,316.5	−0.044%	$15.0M	$55.6M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,320.4	+0.045%	$20.3M	$30.4M	25x	as long as short
Aster XAUUSD1	+0.0072%	4h	4,322.7	+0.099%	$72.4M	$298.7M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,318.8	+0.009%	$2.1M	$4.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0072%	24h	4,324.5	+0.141%	$3.8M	$43.4M	15x	as long as short
Paradex XAU-USD-PERP	+0.0073%	8h	4,320.6	+0.051%	$2K	$13K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0080%	4h	4,322.9	+0.105%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0086%	4h	4,323	+0.106%	$281.8M	$413.7M	100x	as long as short
Variational Omni XAU	+0.0093%	4h	4,322.9	+0.103%	$47.4M	$29.0M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,322.7	+0.098%	$19.8M	$38.5M	25x	as long as short
Binance XAUUSDT	+0.0098%	4h	4,321.1	+0.061%	$415.4M	$2.14B	100x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,321	+0.060%	$363.8M	$329.0M	1000x	as long as short
Phoenix GOLD	+0.0100%	1h	4,321	+0.060%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,317.5	−0.020%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.9	+0.035%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,320.4	+0.047%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0119%	4h	4,319.5	+0.025%	$30.0M	$61.0M	50x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0154%	1h	4,318.4	long leg	$584K	$134K	25x
Bullet GOLD-USD	+0.0178%	1h	4,321.1	+0.062%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,323.4	+0.115%	$4.2M	$12.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0207%	1h	4,321.2	+0.064%	$4.3M	$1.9M	20x	as long as short
HTX XAU-USDTshort	+0.0221%	4h	4,326.6	+0.189%	$2.8M	$4.9M	75x
Bitget XAUUSDT	+0.0230%	4h	4,321.2	+0.065%	$67.9M	$118.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,320.4	+0.046%	$192K	$832K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0311%	8h	4,322.3	+0.090%	$170.5M	$297.2M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,323.3	+0.113%	$16.1M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0372%	4h	4,325.8	+0.172%	$2.2M	$967K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,322.8	+0.102%	$252K	—	111x	as long as short